Zacks Investment Research upgraded shares of Elbit Systems Ltd. (NASDAQ:ESLT) from a hold rating to a strong-buy rating in a report issued on Tuesday. They currently have $176.00 price target on the aerospace company’s stock.
According to Zacks, “Elbit Systems is a worldwide leader in Night Vision Goggles Head-Up Displays (“NVG-HUD”). They are a major supplier to the U.S Army and U.S. Marine Corps of Night Vision Head-Up Display systems for use in various types of helicopters. Elbit Systems Ltd. is engaged in a wide range of defense-related airborne, ground and command, control and communications programs throughout the world. Their focus is on the upgrading of existing military platforms and developing new technologies for defense applications. “
ESLT has been the topic of several other reports. BidaskClub upgraded shares of Elbit Systems from a buy rating to a strong-buy rating in a research note on Tuesday, August 22nd. ValuEngine upgraded shares of Elbit Systems from a hold rating to a buy rating in a research report on Wednesday, September 6th. Finally, Standpoint Research cut shares of Elbit Systems from an accumulate rating to a hold rating in a research report on Thursday, October 5th. Three analysts have rated the stock with a hold rating and two have given a strong buy rating to the stock. The company currently has a consensus rating of Buy and a consensus target price of $143.00.
Shares of Elbit Systems (ESLT) opened at 151.44 on Tuesday. The firm has a market capitalization of $6.47 billion, a P/E ratio of 27.14 and a beta of 0.61. The stock has a 50 day moving average of $143.69 and a 200-day moving average of $128.20. Elbit Systems has a 52-week low of $94.91 and a 52-week high of $152.15.
Elbit Systems (NASDAQ:ESLT) last posted its earnings results on Tuesday, August 15th. The aerospace company reported $1.61 earnings per share (EPS) for the quarter. Elbit Systems had a net margin of 7.23% and a return on equity of 16.38%. The business had revenue of $818.30 million for the quarter. Equities analysts expect that Elbit Systems will post $6.27 earnings per share for the current fiscal year.
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The company also recently declared a dividend, which was paid on Monday, September 18th. Shareholders of record on Friday, September 1st were issued a $0.44 dividend. The ex-dividend date was Wednesday, August 30th. This is a positive change from Elbit Systems’s previous dividend of $0.37. Elbit Systems’s dividend payout ratio (DPR) is 31.54%.
A number of institutional investors have recently made changes to their positions in ESLT. Parallel Advisors LLC grew its holdings in Elbit Systems by 6.8% in the 2nd quarter. Parallel Advisors LLC now owns 864 shares of the aerospace company’s stock worth $109,000 after acquiring an additional 55 shares during the last quarter. Quantum Capital Management bought a new stake in Elbit Systems in the 2nd quarter worth $203,000. UBS Group AG grew its holdings in Elbit Systems by 138.9% in the 1st quarter. UBS Group AG now owns 1,816 shares of the aerospace company’s stock worth $206,000 after acquiring an additional 1,056 shares during the last quarter. BlueCrest Capital Management Ltd bought a new stake in Elbit Systems in the 2nd quarter worth $210,000. Finally, Wetherby Asset Management Inc. grew its holdings in Elbit Systems by 2.2% in the 2nd quarter. Wetherby Asset Management Inc. now owns 1,928 shares of the aerospace company’s stock worth $238,000 after acquiring an additional 41 shares during the last quarter. 11.14% of the stock is currently owned by institutional investors and hedge funds.
About Elbit Systems
Elbit Systems Ltd. is an international technology company engaged in a range of programs across the world. The Company develops and supplies a portfolio of airborne, land and naval systems and products for defense, homeland security and commercial aviation applications. Its systems and products are installed on new platforms, and it also performs platform modernization programs.
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