Elbit Systems (NASDAQ:ESLT) Hits New 1-Year High – Here’s Why

Elbit Systems Ltd. (NASDAQ:ESLT)’s share price hit a new 52-week high on Thursday . The company traded as high as $775.99 and last traded at $755.52, with a volume of 187842 shares changing hands. The stock had previously closed at $761.52.

Analysts Set New Price Targets

A number of research analysts have commented on ESLT shares. 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 report on Friday, December 19th. Wall Street Zen raised Elbit Systems from a “hold” rating to a “buy” rating in a research note on Saturday, January 17th. Zacks Research cut Elbit Systems from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 12th. Weiss Ratings reissued a “buy (b)” rating on shares of Elbit Systems in a research note on Monday, December 29th. Finally, Morgan Stanley started coverage on shares of Elbit Systems in a report on Thursday, December 11th. They issued an “equal weight” rating and a $531.00 price target for the company. Two research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, Elbit Systems currently has an average rating of “Hold” and an average target price of $550.33.

Elbit Systems Stock Down 0.8%

The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.76 and a current ratio of 1.32. The firm’s 50-day simple moving average is $670.84 and its 200 day simple moving average is $550.83. The stock has a market capitalization of $33.58 billion, a P/E ratio of 76.78, a PEG ratio of 2.31 and a beta of 0.22.

Institutional Investors Weigh In On Elbit Systems

Several hedge funds have recently added to or reduced their stakes in ESLT. Van ECK Associates Corp boosted its holdings in shares of Elbit Systems by 3,162.0% during the 3rd quarter. Van ECK Associates Corp now owns 648,104 shares of the aerospace company’s stock worth $330,404,000 after buying an additional 628,236 shares during the period. Clal Insurance Enterprises Holdings Ltd lifted its position in Elbit Systems by 34.4% during the fourth quarter. Clal Insurance Enterprises Holdings Ltd now owns 1,550,618 shares of the aerospace company’s stock worth $893,941,000 after acquiring an additional 397,049 shares during the last quarter. Lazard Asset Management LLC bought a new stake in shares of Elbit Systems during the third quarter worth approximately $172,673,000. Y.D. More Investments Ltd grew its position in shares of Elbit Systems by 35.1% in 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 last quarter. Finally, JPMorgan Chase & Co. increased its stake in shares of Elbit Systems by 226.6% during the second quarter. JPMorgan Chase & Co. now owns 193,561 shares of the aerospace company’s stock worth $87,006,000 after purchasing an additional 134,300 shares during the period. Institutional investors and hedge funds own 17.88% of the company’s stock.

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.