Elbit Systems Ltd. (ESLT) Issues Earnings Results
Elbit Systems Ltd. (NASDAQ:ESLT) issued its quarterly earnings data on Tuesday. The aerospace company reported $1.61 earnings per share for the quarter, Morningstar.com reports. Elbit Systems had a return on equity of 16.45% and a net margin of 7.00%.
Shares of Elbit Systems (NASDAQ ESLT) traded up 0.83% during midday trading on Wednesday, reaching $130.76. The company had a trading volume of 5,628 shares. The company has a market capitalization of $5.59 billion, a P/E ratio of 24.28 and a beta of 0.62. The company’s 50 day moving average price is $125.99 and its 200-day moving average price is $120.45. Elbit Systems has a 52 week low of $91.20 and a 52 week high of $132.58.
A number of large investors have recently modified their holdings of the company. The Manufacturers Life Insurance Company bought a new stake in shares of Elbit Systems during the second quarter valued at $1,269,000. BlueCrest Capital Management Ltd bought a new stake in shares of Elbit Systems during the second quarter valued at $210,000. Lenox Wealth Management Inc. bought a new stake in shares of Elbit Systems during the second quarter valued at $426,000. Royal Bank of Canada increased its stake in shares of Elbit Systems by 7.3% in the second quarter. Royal Bank of Canada now owns 5,079 shares of the aerospace company’s stock valued at $628,000 after buying an additional 346 shares during the period. Finally, Goldman Sachs Group Inc. increased its stake in shares of Elbit Systems by 191.9% in the second quarter. Goldman Sachs Group Inc. now owns 29,112 shares of the aerospace company’s stock valued at $3,602,000 after buying an additional 19,140 shares during the period. Institutional investors own 10.79% of the company’s stock.
A number of brokerages recently weighed in on ESLT. BidaskClub downgraded Elbit Systems from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 28th. Chardan Capital began coverage on Elbit Systems in a research report on Friday, May 5th. They set a “neutral” rating and a $110.00 price objective on the stock.
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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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