Elbit Systems (NASDAQ:ESLT) Reaches New 52-Week High – Still a Buy?

Elbit Systems Ltd. (NASDAQ:ESLT) shares reached a new 52-week high on Tuesday . The stock traded as high as $240.02 and last traded at $240.02, with a volume of 7216 shares. The stock had previously closed at $235.28.

Analysts Set New Price Targets

Separately, StockNews.com lowered shares of Elbit Systems from a “strong-buy” rating to a “buy” rating in a research note on Tuesday.

Elbit Systems Stock Performance

The firm has a market capitalization of $10.60 billion, a P/E ratio of 43.82 and a beta of 0.51. The company’s 50 day moving average is $209.72 and its 200-day moving average is $197.56. The company has a quick ratio of 0.63, a current ratio of 1.13 and a debt-to-equity ratio of 0.10.

Elbit Systems (NASDAQ:ESLT) last issued its earnings results on Wednesday, August 14th. The aerospace company reported $2.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.77 by $0.31. Elbit Systems had a net margin of 3.85% and a return on equity of 10.70%. The business had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.57 billion. During the same period in the prior year, the firm earned $1.57 earnings per share. As a group, equities analysts anticipate that Elbit Systems Ltd. will post 7.8 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in ESLT. Altshuler Shaham Ltd increased its holdings in Elbit Systems by 2.0% during the second quarter. Altshuler Shaham Ltd now owns 912,307 shares of the aerospace company’s stock worth $161,177,000 after buying an additional 18,014 shares during the last quarter. Vanguard Group Inc. increased its holdings in Elbit Systems by 1.4% during the first quarter. Vanguard Group Inc. now owns 830,505 shares of the aerospace company’s stock worth $174,597,000 after buying an additional 11,643 shares during the last quarter. Y.D. More Investments Ltd increased its stake in shares of Elbit Systems by 32,724.6% in the second quarter. Y.D. More Investments Ltd now owns 403,742 shares of the aerospace company’s stock worth $71,329,000 after purchasing an additional 402,512 shares in the last quarter. Meitav Investment House Ltd. increased its stake in shares of Elbit Systems by 41.3% in the third quarter. Meitav Investment House Ltd. now owns 336,836 shares of the aerospace company’s stock worth $67,264,000 after purchasing an additional 98,440 shares in the last quarter. Finally, Swiss National Bank increased its stake in shares of Elbit Systems by 0.5% in the third quarter. Swiss National Bank now owns 79,626 shares of the aerospace company’s stock worth $15,896,000 after purchasing an additional 368 shares in the last quarter. 17.88% of the stock is owned by institutional investors.

Elbit Systems Company Profile

Elbit Systems Ltd. develops and supplies a portfolio of airborne, land, and naval systems and products for the defense, homeland security, and commercial aviation applications primarily in Israel. The company operates through Aerospace, C4I and Cyber, ISTAR and EW, Land, and Elbit Systems of America segments.