Elbit Systems (NASDAQ:ESLT) Stock Price Up 6% – Should You Buy?

Elbit Systems Ltd. (NASDAQ:ESLT) was up 6% on Friday . The company traded as high as $934.44 and last traded at $941.7760. Approximately 173,333 shares were traded during mid-day trading, an increase of 12% from the average daily volume of 154,857 shares. The stock had previously closed at $888.10.

Wall Street Analyst Weigh In

Several research firms recently issued reports on ESLT. Weiss Ratings reissued a “buy (b)” rating on shares of Elbit Systems in a research note on Monday, December 29th. Morgan Stanley started coverage on Elbit Systems in a research report on Thursday, December 11th. They issued an “equal weight” rating and a $531.00 target price for the company. JPMorgan Chase & Co. boosted their price target on shares of Elbit Systems from $530.00 to $580.00 and gave the stock a “neutral” rating in a research note on Friday, December 19th. Wall Street Zen raised shares of Elbit Systems from a “hold” rating to a “buy” rating in a research report on Saturday, January 17th. Finally, Zacks Research lowered shares of Elbit Systems from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 12th. Two equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, Elbit Systems has a consensus rating of “Hold” and an average target price of $550.33.

Elbit Systems Stock Performance

The stock has a market capitalization of $41.61 billion, a PE ratio of 95.14, a price-to-earnings-growth ratio of 2.84 and a beta of 0.22. The company has a quick ratio of 0.76, a current ratio of 1.32 and a debt-to-equity ratio of 0.06. The stock has a fifty day moving average of $709.06 and a 200-day moving average of $569.74.

Hedge Funds Weigh In On Elbit Systems

Several hedge funds and other institutional investors have recently made changes to their positions in ESLT. Van ECK Associates Corp increased its stake in shares of Elbit Systems by 3,162.0% during the third quarter. Van ECK Associates Corp now owns 648,104 shares of the aerospace company’s stock worth $330,404,000 after buying an additional 628,236 shares during the period. Clal Insurance Enterprises Holdings Ltd lifted its stake in Elbit Systems by 34.4% in the fourth quarter. Clal Insurance Enterprises Holdings Ltd now owns 1,550,618 shares of the aerospace company’s stock worth $893,941,000 after acquiring an additional 397,049 shares during the last quarter. Lazard Asset Management LLC acquired a new position in Elbit Systems during the 3rd quarter worth approximately $172,673,000. Y.D. More Investments Ltd grew its holdings 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 in the last quarter. Finally, JPMorgan Chase & Co. increased its position in shares of Elbit Systems by 226.6% in the 2nd quarter. JPMorgan Chase & Co. now owns 193,561 shares of the aerospace company’s stock valued at $87,006,000 after purchasing an additional 134,300 shares during the last quarter. Hedge funds and other institutional investors own 17.88% of the company’s stock.

Elbit Systems Company 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.