Elbit Systems Ltd. (ESLT) Issues Earnings Results
Elbit Systems Ltd. (NASDAQ:ESLT) announced its quarterly earnings results on Tuesday. The aerospace company reported $1.46 earnings per share (EPS) for the quarter, MarketWatch Earnings reports. Elbit Systems had a return on equity of 16.45% and a net margin of 7.00%.
Shares of Elbit Systems (NASDAQ ESLT) traded down 1.99% during mid-day trading on Tuesday, hitting $129.69. The stock had a trading volume of 50,264 shares. The stock has a market cap of $5.54 billion, a price-to-earnings ratio of 24.08 and a beta of 0.62. The firm’s 50-day moving average price is $125.86 and its 200 day moving average price is $120.31. Elbit Systems has a 12-month low of $91.20 and a 12-month high of $132.58.
Several large investors have recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company purchased a new stake in Elbit Systems during the second quarter valued at approximately $1,269,000. BlueCrest Capital Management Ltd purchased a new stake in Elbit Systems during the second quarter valued at approximately $210,000. Lenox Wealth Management Inc. purchased a new stake in Elbit Systems during the second quarter valued at approximately $426,000. Royal Bank of Canada boosted its stake in Elbit Systems by 7.3% in the second quarter. Royal Bank of Canada now owns 5,079 shares of the aerospace company’s stock valued at $628,000 after buying an additional 346 shares during the period. Finally, Goldman Sachs Group Inc. boosted its stake in Elbit Systems by 191.9% in the second quarter. Goldman Sachs Group Inc. now owns 29,112 shares of the aerospace company’s stock valued at $3,602,000 after buying an additional 19,140 shares during the period. 10.79% of the stock is owned by institutional investors.
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A number of research analysts have issued reports on the company. BidaskClub upgraded Elbit Systems from a “buy” rating to a “strong-buy” rating in a research report on Friday, June 9th. Chardan Capital assumed coverage on Elbit Systems in a research report on Friday, May 5th. They set a “neutral” rating and a $110.00 price target for the company.
Elbit Systems Company Profile
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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