Eqis Capital Management Inc. lessened its holdings in shares of Elbit Systems Ltd (NASDAQ:ESLT) by 11.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 15,542 shares of the aerospace company’s stock after selling 2,052 shares during the period. Eqis Capital Management Inc.’s holdings in Elbit Systems were worth $2,561,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in ESLT. Contravisory Investment Management Inc. acquired a new position in Elbit Systems during the second quarter worth $53,000. Tower View Investment Management & Research LLC grew its holdings in Elbit Systems by 1.2% during the second quarter. Tower View Investment Management & Research LLC now owns 13,576 shares of the aerospace company’s stock worth $2,030,000 after acquiring an additional 160 shares during the period. Commonwealth Equity Services LLC acquired a new position in Elbit Systems during the second quarter worth $206,000. Confluence Investment Management LLC grew its holdings in Elbit Systems by 1.9% during the second quarter. Confluence Investment Management LLC now owns 9,208 shares of the aerospace company’s stock worth $1,377,000 after acquiring an additional 168 shares during the period. Finally, SG Americas Securities LLC grew its holdings in Elbit Systems by 36.6% during the second quarter. SG Americas Securities LLC now owns 1,418 shares of the aerospace company’s stock worth $212,000 after acquiring an additional 380 shares during the period. 8.44% of the stock is currently owned by hedge funds and other institutional investors.
ESLT stock traded down $0.90 on Tuesday, reaching $160.61. 1,017 shares of the company’s stock were exchanged, compared to its average volume of 7,434. The stock has a fifty day moving average of $163.58 and a 200-day moving average of $154.35. Elbit Systems Ltd has a twelve month low of $109.81 and a twelve month high of $166.77. The firm has a market cap of $7.03 billion, a PE ratio of 25.16 and a beta of 0.87. The company has a quick ratio of 0.73, a current ratio of 1.15 and a debt-to-equity ratio of 0.21.
A number of research analysts recently weighed in on the company. BidaskClub lowered Elbit Systems from a “buy” rating to a “hold” rating in a report on Tuesday, October 22nd. Standpoint Research lowered Elbit Systems from a “buy” rating to a “hold” rating in a report on Thursday, July 25th. Finally, ValuEngine lowered Elbit Systems from a “hold” rating to a “sell” rating in a report on Wednesday, October 2nd.
Elbit Systems Profile
Elbit Systems Ltd. develops and supplies a range of airborne, land, and naval systems and products for defense, homeland security, and commercial aviation applications worldwide. The company offers military aircraft and helicopter systems; commercial aviation systems and aero structures; unmanned aircraft systems and unmanned surface vessels; electro-optic and countermeasures systems; land vehicle systems; munitions; command, control, communications, computer, intelligence, surveillance, and reconnaissance and cyber systems; electronic warfare and signal intelligence systems; and commercial cyber security products.
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