Elbit Systems (ESLT) Downgraded by BidaskClub

BidaskClub cut shares of Elbit Systems (NASDAQ:ESLT) from a sell rating to a strong sell rating in a research report sent to investors on Tuesday morning.

A number of other equities research analysts have also issued reports on ESLT. ValuEngine lowered Elbit Systems from a buy rating to a hold rating in a research note on Monday, October 2nd. Zacks Investment Research downgraded Elbit Systems from a strong-buy rating to a hold rating in a research note on Wednesday, November 22nd. Finally, Standpoint Research downgraded Elbit Systems from an accumulate rating to a hold rating in a research note on Thursday, October 5th. Two investment analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. The stock currently has a consensus rating of Hold and a consensus target price of $143.00.

Shares of Elbit Systems (NASDAQ ESLT) traded down $3.67 during mid-day trading on Tuesday, hitting $132.14. The company had a trading volume of 77,600 shares, compared to its average volume of 34,115. Elbit Systems has a 52-week low of $99.95 and a 52-week high of $153.13. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.26 and a quick ratio of 0.82. The company has a market cap of $5,670.00, a price-to-earnings ratio of 21.87 and a beta of 0.58.

Several institutional investors have recently made changes to their positions in the business. FMR LLC raised its holdings in shares of Elbit Systems by 31.9% during the second quarter. FMR LLC now owns 1,671,496 shares of the aerospace company’s stock valued at $206,581,000 after acquiring an additional 404,369 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Elbit Systems by 6.5% during the second quarter. Vanguard Group Inc. now owns 526,881 shares of the aerospace company’s stock valued at $65,202,000 after acquiring an additional 32,258 shares during the last quarter. Rainier Investment Management LLC raised its holdings in shares of Elbit Systems by 467.8% during the second quarter. Rainier Investment Management LLC now owns 70,410 shares of the aerospace company’s stock valued at $8,713,000 after acquiring an additional 58,010 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Elbit Systems by 19.9% during the third quarter. JPMorgan Chase & Co. now owns 56,281 shares of the aerospace company’s stock valued at $8,254,000 after acquiring an additional 9,336 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in shares of Elbit Systems by 3.5% during the third quarter. Bank of New York Mellon Corp now owns 53,334 shares of the aerospace company’s stock valued at $7,844,000 after acquiring an additional 1,806 shares during the last quarter. 11.15% of the stock is owned by institutional investors and hedge funds.

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Elbit Systems Company Profile

Elbit Systems Ltd. is an international technology company engaged in a range of programs across the world. The Company develops and supplies a portfolio of airborne, land and naval systems and products for defense, homeland security and commercial aviation applications. Its systems and products are installed on new platforms, and it also performs platform modernization programs.

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