Elbit Systems (NASDAQ:ESLT) Sets New 12-Month High – Here’s What Happened

Elbit Systems Ltd. (NASDAQ:ESLT)’s share price hit a new 52-week high on Wednesday . The stock traded as high as $871.00 and last traded at $870.2210, with a volume of 8726 shares. The stock had previously closed at $823.08.

Wall Street Analyst Weigh In

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

Elbit Systems Trading Up 0.4%

The company has a 50-day moving average price of $701.75 and a two-hundred day moving average price of $565.70. The stock has a market cap of $39.48 billion, a P/E ratio of 90.25, a P/E/G ratio of 2.69 and a beta of 0.22. The company has a current ratio of 1.32, a quick ratio of 0.76 and a debt-to-equity ratio of 0.06.

Hedge Funds Weigh In On Elbit Systems

A number of large investors have recently made changes to their positions in ESLT. Citizens Financial Group Inc. RI bought a new position in shares of Elbit Systems during the third quarter valued at approximately $730,000. Mitsubishi UFJ Trust & Banking Corp bought a new stake in shares of Elbit Systems during the 3rd quarter worth approximately $824,000. JPMorgan Chase & Co. boosted its holdings in Elbit Systems by 226.6% during the 2nd quarter. JPMorgan Chase & Co. now owns 193,561 shares of the aerospace company’s stock valued at $87,006,000 after acquiring an additional 134,300 shares during the period. Invesco Ltd. grew its position in Elbit Systems by 2.5% in the 2nd quarter. Invesco Ltd. now owns 337,292 shares of the aerospace company’s stock valued at $151,613,000 after acquiring an additional 8,310 shares during the last quarter. Finally, Atlantic Union Bankshares Corp increased its stake in Elbit Systems by 180,000.0% in the third quarter. Atlantic Union Bankshares Corp now owns 1,801 shares of the aerospace company’s stock worth $918,000 after purchasing an additional 1,800 shares during the period. 17.88% of the stock is owned by hedge funds and other institutional investors.

About Elbit Systems

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.