Public Sector Pension Investment Board Boosts Stock Position in Elbit Systems Ltd. $ESLT

Public Sector Pension Investment Board lifted its position in shares of Elbit Systems Ltd. (NASDAQ:ESLT) by 15.2% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,728 shares of the aerospace company’s stock after buying an additional 2,206 shares during the period. Public Sector Pension Investment Board’s holdings in Elbit Systems were worth $8,492,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Cibc World Market Inc. bought a new position in Elbit Systems during the third quarter valued at approximately $288,000. Caprock Group LLC purchased a new stake in shares of Elbit Systems in the 3rd quarter valued at $229,000. Baader Bank Aktiengesellschaft bought a new position in shares of Elbit Systems during the 3rd quarter valued at $408,000. Navellier & Associates Inc. grew its holdings in shares of Elbit Systems by 11.5% during the 3rd quarter. Navellier & Associates Inc. now owns 15,227 shares of the aerospace company’s stock valued at $7,763,000 after purchasing an additional 1,572 shares during the last quarter. Finally, Oppenheimer & Co. Inc. purchased a new position in Elbit Systems in the 3rd quarter worth $761,000. Hedge funds and other institutional investors own 17.88% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Elbit Systems Trading Down 0.1%

NASDAQ ESLT opened at $676.43 on Tuesday. The stock has a market cap of $30.07 billion, a P/E ratio of 68.74, a price-to-earnings-growth ratio of 2.05 and a beta of 0.22. Elbit Systems Ltd. has a fifty-two week low of $294.99 and a fifty-two week high of $740.67. The stock has a 50 day simple moving average of $640.49 and a two-hundred day simple moving average of $538.66. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.76 and a current ratio of 1.32.

Elbit Systems (NASDAQ:ESLT) last posted its earnings results on Tuesday, November 18th. The aerospace company reported $3.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.75 by $0.60. Elbit Systems had a return on equity of 15.04% and a net margin of 5.91%.The firm had revenue of $1.92 billion for the quarter, compared to analysts’ expectations of $1.99 billion. On average, analysts forecast that Elbit Systems Ltd. will post 8.05 earnings per share for the current year.

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.