Elbit Systems (NASDAQ:ESLT) Stock Breaks Above 50 Day Moving Average – What’s Next?

Elbit Systems Ltd. (NASDAQ:ESLT)’s stock price crossed above its fifty day moving average during trading on Tuesday. The stock has a fifty day moving average of $722.93 and traded as high as $744.32. Elbit Systems shares last traded at $740.17, with a volume of 55,610 shares changing hands.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. reduced their price objective on Elbit Systems from $950.00 to $885.00 and set a “neutral” rating for the company in a research note on Wednesday, August 19th. Wall Street Zen raised Elbit Systems from a “hold” rating to a “buy” rating in a research report on Saturday, September 26th. Weiss Ratings raised Elbit Systems from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, October 8th. Jefferies Financial Group decreased their price target on Elbit Systems from $880.00 to $790.00 and set a “hold” rating for the company in a research report on Monday, October 5th. Finally, Morgan Stanley set a $850.00 price target on Elbit Systems in a research report on Friday, October 16th. Five research analysts have rated the stock with a Hold rating. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $841.67.

Elbit Systems Price Performance

The stock has a fifty day moving average price of $723.54 and a 200-day moving average price of $784.25. The company has a market cap of $32.14 billion, a PE ratio of 54.48, a price-to-earnings-growth ratio of 2.94 and a beta of 0.09. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.39 and a quick ratio of 0.89.

Elbit Systems (NASDAQ:ESLT) last issued its quarterly earnings results on Tuesday, August 11th. The aerospace company reported $4.14 earnings per share for the quarter, beating analysts’ consensus estimates of $3.69 by $0.45. The business had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $2.25 billion. Elbit Systems had a return on equity of 16.66% and a net margin of 7.44%. On average, equities analysts expect that Elbit Systems Ltd. will post 16.02 earnings per share for the current year.

Hedge Funds Weigh In On Elbit Systems

A number of large investors have recently made changes to their positions in ESLT. Clal Insurance Enterprises Holdings Ltd boosted its holdings in shares of Elbit Systems by 4.5% during the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 1,619,783 shares of the aerospace company’s stock worth $1,351,958,000 after purchasing an additional 69,165 shares during the period. Harel Insurance Investments & Financial Services Ltd. grew its position in Elbit Systems by 206.1% during the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 269,599 shares of the aerospace company’s stock valued at $228,914,000 after purchasing an additional 181,524 shares in the last quarter. Jennison Associates LLC purchased a new position in Elbit Systems during the first quarter valued at approximately $128,135,000. Swiss National Bank grew its position in Elbit Systems by 27.7% during the first quarter. Swiss National Bank now owns 102,740 shares of the aerospace company’s stock valued at $85,619,000 after purchasing an additional 22,315 shares in the last quarter. Finally, Voya Investment Management LLC increased its stake in Elbit Systems by 0.3% in the 3rd quarter. Voya Investment Management LLC now owns 70,356 shares of the aerospace company’s stock valued at $47,073,000 after buying an additional 227 shares during the period. Institutional investors and hedge funds own 17.88% of the company’s stock.

Elbit Systems Company Profile

Elbit Systems Ltd. is an Israel-based defense technology company headquartered in Haifa. Founded in 1966, it develops and supplies electronic systems and related services for military and security customers. Its products include aircraft and helicopter systems, unmanned aircraft, electro-optical equipment, communications and command-and-control systems, electronic warfare and intelligence solutions, and land and naval systems. The company also provides training and simulation, maintenance, and modernization services.