Weiss Ratings Reaffirms Hold (C) Rating for Elbit Systems (NASDAQ:ESLT)

Key Points

• Weiss Ratings has reaffirmed a "hold" rating for Elbit Systems (NASDAQ: ESLT) amid varying assessments from other firms, with JPMorgan giving a "neutral" rating and a price target of $520.
• Elbit Systems' shares increased by 0.5% to $523.00, backed by solid quarterly earnings that exceeded expectations with an EPS of $3.23 against a $2.57 consensus.
• The company has seen significant investment activity, with leading firms like Clal Insurance and Vanguard increasing their stakes, indicating positive institutional interest in Elbit Systems

Elbit Systems (NASDAQ:ESLT - Get Free Report)'s stock had its "hold (c)" rating restated by analysts at Weiss Ratings in a report issued on Wednesday,Weiss Ratings reports.

Several other research firms have also commented on ESLT. JPMorgan Chase & Co. assumed coverage on Elbit Systems in a research report on Tuesday, September 30th. They issued a "neutral" rating and a $520.00 price target for the company. Wall Street Zen lowered Elbit Systems from a "buy" rating to a "hold" rating in a research report on Friday, October 3rd. Finally, Bank of America boosted their target price on Elbit Systems from $500.00 to $540.00 and gave the stock a "buy" rating in a research note on Tuesday, August 26th. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat.com, Elbit Systems has an average rating of "Hold" and a consensus price target of $530.00.

Elbit Systems Stock Up 0.5%

Shares of ESLT traded up $2.50 during trading hours on Wednesday, hitting $523.00. The company had a trading volume of 145,378 shares, compared to its average volume of 117,597. The company has a market capitalization of $23.25 billion, a PE ratio of 59.36, a price-to-earnings-growth ratio of 1.89 and a beta of 0.33. The company has a current ratio of 1.29, a quick ratio of 0.77 and a debt-to-equity ratio of 0.06. Elbit Systems has a one year low of $203.04 and a one year high of $529.99. The company's fifty day moving average price is $484.30 and its two-hundred day moving average price is $437.80.

Elbit Systems (NASDAQ:ESLT - Get Free Report) last released its quarterly earnings results on Wednesday, August 13th. The aerospace company reported $3.23 EPS for the quarter, topping the consensus estimate of $2.57 by $0.66. The firm had revenue of $1.97 billion during the quarter, compared to analyst estimates of $1.89 billion. Elbit Systems had a return on equity of 14.29% and a net margin of 5.35%.During the same period in the previous year, the company posted $2.08 EPS. As a group, equities analysts forecast that Elbit Systems will post 8.05 earnings per share for the current fiscal year.

Institutional Trading of Elbit Systems

Several large investors have recently added to or reduced their stakes in the company. Clal Insurance Enterprises Holdings Ltd grew its stake in Elbit Systems by 0.3% during the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 1,357,148 shares of the aerospace company's stock valued at $520,189,000 after purchasing an additional 4,248 shares during the last quarter. Vanguard Group Inc. grew its stake in Elbit Systems by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 889,904 shares of the aerospace company's stock valued at $341,276,000 after purchasing an additional 15,552 shares during the last quarter. Y.D. More Investments Ltd grew its stake in Elbit Systems by 35.1% during the 2nd quarter. Y.D. More Investments Ltd now owns 610,977 shares of the aerospace company's stock valued at $271,438,000 after purchasing an additional 158,689 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its stake in Elbit Systems by 27.3% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 471,839 shares of the aerospace company's stock valued at $210,967,000 after purchasing an additional 101,083 shares during the last quarter. Finally, Meitav Investment House Ltd. grew its stake in Elbit Systems by 27.7% during the 2nd quarter. Meitav Investment House Ltd. now owns 378,223 shares of the aerospace company's stock valued at $168,600,000 after purchasing an additional 82,103 shares during the last quarter. Hedge funds and other institutional investors own 17.88% of the company's stock.

About Elbit Systems

Elbit Systems Ltd. develops and supplies a portfolio of airborne, land, and naval systems and products for the defense, homeland security, and commercial aviation applications primarily in Israel. The company operates through Aerospace, C4I and Cyber, ISTAR and EW, Land, and Elbit Systems of America segments.

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