Elbit Systems (NASDAQ:ESLT) Downgraded by Zacks Research to “Hold”

Elbit Systems (NASDAQ:ESLT) was downgraded by investment analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued on Wednesday,Zacks.com reports.

A number of other brokerages have also recently weighed in on ESLT. JPMorgan Chase & Co. upped their price objective on Elbit Systems from $930.00 to $950.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 27th. Jefferies Financial Group decreased their price target on shares of Elbit Systems from $950.00 to $880.00 and set a “hold” rating for the company in a research report on Wednesday. Two investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, Elbit Systems currently has an average rating of “Hold” and an average price target of $725.25.

Elbit Systems Stock Performance

Shares of ESLT stock opened at $732.71 on Wednesday. The firm has a market cap of $32.57 billion, a price-to-earnings ratio of 59.33, a PEG ratio of 3.19 and a beta of 0.14. Elbit Systems has a 52-week low of $422.84 and a 52-week high of $1,016.06. The company has a quick ratio of 0.86, a current ratio of 1.41 and a debt-to-equity ratio of 0.06. The company’s 50 day moving average is $819.47 and its 200 day moving average is $766.87.

Elbit Systems (NASDAQ:ESLT) last announced its earnings results on Tuesday, May 26th. The aerospace company reported $3.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.98 by $0.89. Elbit Systems had a return on equity of 16.15% and a net margin of 7.14%.The business had revenue of $2.19 billion for the quarter, compared to analysts’ expectations of $2.14 billion. On average, sell-side analysts anticipate that Elbit Systems will post 15.3 EPS for the current fiscal year.

Insider Activity

In related news, EVP Yoram Shmuely sold 7,654 shares of the business’s stock in a transaction on Thursday, April 9th. The stock was sold at an average price of $887.40, for a total transaction of $6,792,159.60. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Haim Daniel Delmar sold 7,654 shares of the company’s stock in a transaction dated Thursday, April 9th. The shares were sold at an average price of $887.40, for a total value of $6,792,159.60. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 69,736 shares of company stock worth $61,883,726 over the last quarter. Company insiders own 0.84% of the company’s stock.

Institutional Trading of Elbit Systems

A number of institutional investors have recently bought and sold shares of ESLT. Parallel Advisors LLC grew its position in Elbit Systems by 2.0% during the 1st quarter. Parallel Advisors LLC now owns 883 shares of the aerospace company’s stock worth $750,000 after purchasing an additional 17 shares during the last quarter. Kestra Advisory Services LLC lifted its stake in shares of Elbit Systems by 0.3% during the first quarter. Kestra Advisory Services LLC now owns 6,610 shares of the aerospace company’s stock worth $5,612,000 after buying an additional 18 shares during the period. Captrust Financial Advisors lifted its stake in shares of Elbit Systems by 2.5% during the fourth quarter. Captrust Financial Advisors now owns 741 shares of the aerospace company’s stock worth $428,000 after buying an additional 18 shares during the period. Cardinal Capital Management increased its position in shares of Elbit Systems by 0.3% in the 4th quarter. Cardinal Capital Management now owns 7,889 shares of the aerospace company’s stock valued at $4,558,000 after acquiring an additional 20 shares during the period. Finally, Arax Advisory Partners raised its stake in Elbit Systems by 25.0% in the 4th quarter. Arax Advisory Partners now owns 150 shares of the aerospace company’s stock worth $87,000 after acquiring an additional 30 shares during the last quarter. 17.88% of the stock is currently owned by institutional investors and hedge funds.

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.