Pinnbrook Capital Management LP Makes New Investment in Elbit Systems Ltd. $ESLT

Pinnbrook Capital Management LP acquired a new position in shares of Elbit Systems Ltd. (NASDAQ:ESLT) during the third quarter, Holdings Channel reports. The institutional investor acquired 1,556 shares of the aerospace company’s stock, valued at approximately $793,000.

Several other institutional investors have also recently made changes to their positions in ESLT. Citizens Financial Group Inc. RI purchased a new stake in Elbit Systems during the third quarter worth $730,000. Mitsubishi UFJ Trust & Banking Corp acquired a new stake in Elbit Systems during the third quarter valued at $824,000. JPMorgan Chase & Co. increased its holdings in Elbit Systems by 226.6% in the second quarter. JPMorgan Chase & Co. now owns 193,561 shares of the aerospace company’s stock valued at $87,006,000 after buying an additional 134,300 shares in the last quarter. ARK Investment Management LLC raised its position in shares of Elbit Systems by 11.6% in the third quarter. ARK Investment Management LLC now owns 53,569 shares of the aerospace company’s stock worth $27,309,000 after acquiring an additional 5,550 shares during the period. Finally, Pinpoint Asset Management Singapore Pte. Ltd. raised its position in shares of Elbit Systems by 296.0% in the third quarter. Pinpoint Asset Management Singapore Pte. Ltd. now owns 6,970 shares of the aerospace company’s stock worth $3,553,000 after acquiring an additional 5,210 shares during the period. 17.88% of the stock is owned by hedge funds and other institutional investors.

Elbit Systems Stock Performance

ESLT opened at $871.10 on Friday. The firm’s fifty day simple moving average is $738.93 and its two-hundred day simple moving average is $583.64. Elbit Systems Ltd. has a 52-week low of $354.68 and a 52-week high of $960.00. The company has a market cap of $38.72 billion, a price-to-earnings ratio of 88.53, a PEG ratio of 2.63 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.

Wall Street Analyst Weigh In

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

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.