Elbit Systems (NASDAQ:ESLT) Downgraded by BidaskClub

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BidaskClub downgraded shares of Elbit Systems (NASDAQ:ESLT) from a buy rating to a hold rating in a report published on Saturday, BidAskClub reports.

Several other analysts have also weighed in on ESLT. ValuEngine lowered Elbit Systems from a buy rating to a hold rating in a research note on Thursday, August 1st. Standpoint Research lowered Elbit Systems from a buy rating to a hold rating in a research note on Thursday, July 25th.

Shares of NASDAQ ESLT opened at $155.19 on Friday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.73 and a current ratio of 1.10. Elbit Systems has a 52 week low of $109.81 and a 52 week high of $166.50. The stock has a market capitalization of $6.67 billion, a P/E ratio of 23.85 and a beta of 0.80. The stock’s fifty day moving average is $156.25 and its 200 day moving average is $142.46.

Elbit Systems (NASDAQ:ESLT) last issued its quarterly earnings results on Thursday, August 15th. The aerospace company reported $1.46 EPS for the quarter, missing the Zacks’ consensus estimate of $1.50 by ($0.04). The company had revenue of $1.06 billion during the quarter. Elbit Systems had a return on equity of 14.99% and a net margin of 4.18%.

A number of large investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada boosted its stake in Elbit Systems by 3.7% in the second quarter. Royal Bank of Canada now owns 2,388 shares of the aerospace company’s stock valued at $357,000 after buying an additional 85 shares in the last quarter. D. E. Shaw & Co. Inc. boosted its stake in Elbit Systems by 16.1% in the second quarter. D. E. Shaw & Co. Inc. now owns 2,887 shares of the aerospace company’s stock valued at $432,000 after buying an additional 400 shares in the last quarter. Morgan Stanley boosted its stake in Elbit Systems by 11.7% in the second quarter. Morgan Stanley now owns 20,623 shares of the aerospace company’s stock valued at $3,084,000 after buying an additional 2,154 shares in the last quarter. Vanguard Group Inc. boosted its stake in Elbit Systems by 2.4% in the second quarter. Vanguard Group Inc. now owns 619,310 shares of the aerospace company’s stock valued at $92,592,000 after buying an additional 14,355 shares in the last quarter. Finally, ETF Managers Group LLC boosted its stake in Elbit Systems by 10.7% in the second quarter. ETF Managers Group LLC now owns 22,739 shares of the aerospace company’s stock valued at $3,379,000 after buying an additional 2,201 shares in the last quarter. 8.36% of the stock is currently owned by institutional investors and hedge funds.

About Elbit Systems

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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