JPMorgan Chase & Co. Sells 109,874 Shares of Elbit Systems Ltd. $ESLT

JPMorgan Chase & Co. reduced its holdings in shares of Elbit Systems Ltd. (NASDAQ:ESLT) by 56.8% in the third quarter, according to its most recent filing with the SEC. The fund owned 83,687 shares of the aerospace company’s stock after selling 109,874 shares during the period. JPMorgan Chase & Co. owned about 0.19% of Elbit Systems worth $42,664,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Y.D. More Investments Ltd boosted its stake in shares of Elbit Systems by 35.1% during the second 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 period. Arrowstreet Capital Limited Partnership boosted its position in Elbit Systems by 27.3% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 471,839 shares of the aerospace company’s stock valued at $210,967,000 after buying an additional 101,083 shares during the period. Invesco Ltd. grew its stake in Elbit Systems by 2.5% in the 2nd quarter. Invesco Ltd. now owns 337,292 shares of the aerospace company’s stock worth $151,613,000 after acquiring an additional 8,310 shares in the last quarter. Heard Capital LLC increased its position in shares of Elbit Systems by 1.4% during the second quarter. Heard Capital LLC now owns 195,398 shares of the aerospace company’s stock worth $87,831,000 after acquiring an additional 2,627 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Elbit Systems by 74.2% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 175,533 shares of the aerospace company’s stock worth $78,084,000 after acquiring an additional 74,754 shares during the period. Institutional investors own 17.88% of the company’s stock.

Elbit Systems Stock Performance

Shares of Elbit Systems stock opened at $765.29 on Friday. The company has a market capitalization of $34.02 billion, a PE ratio of 77.77, a P/E/G ratio of 2.29 and a beta of 0.22. The company has a 50-day simple moving average of $675.32 and a two-hundred day simple moving average of $552.32. Elbit Systems Ltd. has a one year low of $302.89 and a one year high of $775.99. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.76 and a current ratio of 1.32.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. JPMorgan Chase & Co. increased their price objective on Elbit Systems from $530.00 to $580.00 and gave the stock a “neutral” rating in a research note on Friday, December 19th. Wall Street Zen raised Elbit Systems from a “hold” rating to a “buy” rating in a research report on Saturday, January 17th. Zacks Research lowered Elbit Systems from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 12th. Morgan Stanley started coverage on shares of Elbit Systems in a research note on Thursday, December 11th. They issued an “equal weight” rating and a $531.00 price objective for the company. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Elbit Systems in a report on Monday, December 29th. Two analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Elbit Systems currently has a consensus rating of “Hold” and an average price target of $550.33.

Elbit Systems Company Profile

Elbit Systems Ltd. is an Israel-based defense electronics company that designs, develops and supplies a broad range of systems for military, homeland security and commercial aviation customers. The company focuses on integrated, platform-level solutions that combine sensors, communications, command-and-control software and weapons integration to support intelligence, surveillance and reconnaissance (ISR), force protection and mission management.

Its product and service portfolio spans unmanned aircraft systems, electro-optic and signal intelligence systems, electronic warfare and communications equipment, avionics and mission systems for military and commercial aircraft, and land and naval systems.