Elbit Systems (NASDAQ:ESLT) Stock Rating Lowered by Zacks Research

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

Other equities research analysts also recently issued research reports about the company. Jefferies Financial Group dropped their target price on Elbit Systems from $950.00 to $880.00 and set a “hold” rating for the company in a research report on Wednesday. JPMorgan Chase & Co. boosted their price target on shares of Elbit Systems from $930.00 to $950.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 27th. Two investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $725.25.

Elbit Systems Stock Down 2.4%

Shares of NASDAQ:ESLT opened at $732.71 on Wednesday. Elbit Systems has a 12 month low of $422.84 and a 12 month high of $1,016.06. The company’s 50-day moving average price is $819.47 and its two-hundred day moving average price is $766.87. 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 firm has a market cap of $32.57 billion, a P/E ratio of 59.33, a P/E/G ratio of 3.19 and a beta of 0.14.

Elbit Systems (NASDAQ:ESLT) last announced its earnings results on Tuesday, May 26th. The aerospace company reported $3.87 earnings per share for the quarter, topping analysts’ consensus estimates of $2.98 by $0.89. Elbit Systems had a net margin of 7.14% and a return on equity of 16.15%. The company had revenue of $2.19 billion during the quarter, compared to the consensus estimate of $2.14 billion. As a group, research analysts forecast that Elbit Systems will post 15.3 EPS for the current fiscal year.

Insiders Place Their Bets

In other Elbit Systems news, CEO Bezhalel Machlis sold 25,514 shares of the company’s stock in a transaction that occurred on Thursday, April 9th. The shares were sold at an average price of $887.40, for a total value of $22,641,123.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Jonathan Ariel sold 7,654 shares of the 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 disclosure for this sale is available in the SEC filing. Insiders sold a total of 69,736 shares of company stock worth $61,883,726 over the last ninety days. Company insiders own 0.84% of the company’s stock.

Institutional Trading of Elbit Systems

A number of large investors have recently made changes to their positions in the company. Van ECK Associates Corp increased its holdings in shares of Elbit Systems by 3,162.0% in the third quarter. Van ECK Associates Corp now owns 648,104 shares of the aerospace company’s stock worth $330,404,000 after acquiring an additional 628,236 shares in the last quarter. Clal Insurance Enterprises Holdings Ltd increased its stake in Elbit Systems by 34.4% during the 4th quarter. Clal Insurance Enterprises Holdings Ltd now owns 1,550,618 shares of the aerospace company’s stock worth $893,941,000 after purchasing an additional 397,049 shares in the last quarter. Lazard Asset Management LLC bought a new stake in Elbit Systems during the 3rd quarter worth approximately $172,673,000. Harel Insurance Investments & Financial Services Ltd. raised its holdings in Elbit Systems by 206.1% during the 1st quarter. Harel Insurance Investments & Financial Services Ltd. now owns 269,599 shares of the aerospace company’s stock worth $228,914,000 after buying an additional 181,524 shares during the period. Finally, Jennison Associates LLC acquired a new stake in Elbit Systems during the 1st quarter worth approximately $128,135,000. Institutional investors 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.