Elbit Systems (NASDAQ:ESLT) issued its quarterly earnings data on Tuesday. The aerospace company reported $2.01 earnings per share for the quarter, Morningstar.com reports. Elbit Systems had a return on equity of 16.32% and a net margin of 7.13%.
ESLT stock traded down $1.20 during midday trading on Wednesday, hitting $132.10. The company had a trading volume of 39,873 shares, compared to its average volume of 41,468. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.82 and a current ratio of 1.26. Elbit Systems has a 52-week low of $110.12 and a 52-week high of $153.13. The stock has a market capitalization of $5,817.85, a price-to-earnings ratio of 24.06 and a beta of 0.78.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in ESLT. Ark Investment Management LLC lifted its position in Elbit Systems by 104.6% in the second quarter. Ark Investment Management LLC now owns 6,121 shares of the aerospace company’s stock valued at $757,000 after purchasing an additional 3,129 shares during the period. Dimensional Fund Advisors LP lifted its position in Elbit Systems by 1.1% in the second quarter. Dimensional Fund Advisors LP now owns 9,766 shares of the aerospace company’s stock valued at $1,209,000 after purchasing an additional 108 shares during the period. Canada Pension Plan Investment Board acquired a new stake in Elbit Systems in the third quarter valued at about $882,000. Keybank National Association OH acquired a new stake in Elbit Systems in the third quarter valued at about $217,000. Finally, Bank of New York Mellon Corp lifted its position in Elbit Systems by 3.5% in the third quarter. Bank of New York Mellon Corp now owns 53,334 shares of the aerospace company’s stock valued at $7,844,000 after purchasing an additional 1,806 shares during the period. 11.79% of the stock is currently owned by hedge funds and other institutional investors.
A number of research analysts have commented on the company. ValuEngine upgraded Elbit Systems from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. BidaskClub lowered Elbit Systems from a “sell” rating to a “strong sell” rating in a report on Wednesday, February 28th. Finally, Zacks Investment Research raised Elbit Systems from a “sell” rating to a “hold” rating in a report on Friday, January 19th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $143.00.
Elbit Systems Company Profile
Elbit Systems Ltd. is an international technology company engaged in a range of programs across the world. The Company develops and supplies a portfolio of airborne, land and naval systems and products for defense, homeland security and commercial aviation applications. Its systems and products are installed on new platforms, and it also performs platform modernization programs.
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