Pinnbrook Capital Management LP Purchases Shares of 1,556 Elbit Systems Ltd. $ESLT

Pinnbrook Capital Management LP purchased a new position in Elbit Systems Ltd. (NASDAQ:ESLT) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 1,556 shares of the aerospace company’s stock, valued at approximately $793,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Elbit Systems by 4.8% in the 3rd quarter. Vanguard Group Inc. now owns 984,861 shares of the aerospace company’s stock valued at $501,042,000 after acquiring an additional 45,073 shares during the period. Van ECK Associates Corp lifted its position in Elbit Systems by 3,162.0% during the 3rd 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 during the period. Y.D. More Investments Ltd lifted its position in Elbit Systems by 35.1% during the 2nd quarter. Y.D. More Investments Ltd now owns 610,977 shares of the aerospace company’s stock worth $271,438,000 after acquiring an additional 158,689 shares during the period. Arrowstreet Capital Limited Partnership grew its stake in Elbit Systems by 2.5% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 483,842 shares of the aerospace company’s stock valued at $246,121,000 after purchasing an additional 12,003 shares during the last quarter. Finally, Invesco Ltd. increased its holdings in shares of Elbit Systems by 10.0% in the third quarter. Invesco Ltd. now owns 370,911 shares of the aerospace company’s stock valued at $189,090,000 after purchasing an additional 33,619 shares during the period. 17.88% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ESLT has been the subject of several research analyst reports. Morgan Stanley started coverage on Elbit Systems in a research note on Thursday, December 11th. They issued an “equal weight” rating and a $531.00 price objective for the company. JPMorgan Chase & Co. increased their price target on shares of Elbit Systems from $530.00 to $580.00 and gave the stock a “neutral” rating in a report on Friday, December 19th. Weiss Ratings reissued a “buy (b)” rating on shares of Elbit Systems in a research report on Monday, December 29th. Finally, Wall Street Zen upgraded shares of Elbit Systems from a “hold” rating to a “buy” rating in a research note on Saturday, January 17th. Two investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, Elbit Systems has a consensus rating of “Hold” and a consensus target price of $550.33.

Elbit Systems Stock Performance

NASDAQ ESLT opened at $871.10 on Friday. The firm has a market capitalization of $38.72 billion, a P/E ratio of 88.53, a PEG ratio of 2.63 and a beta of 0.22. The stock has a 50-day simple moving average of $738.93 and a two-hundred day simple moving average of $583.64. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.76 and a current ratio of 1.32. Elbit Systems Ltd. has a fifty-two week low of $354.68 and a fifty-two week high of $960.00.

Elbit Systems 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.