Elbit Systems Ltd. (ESLT) Downgraded by Zacks Investment Research to “Hold”
Elbit Systems Ltd. (NASDAQ:ESLT) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a note issued to investors on Wednesday.
According to Zacks, “Elbit Systems is a worldwide leader in Night Vision Goggles Head-Up Displays (“NVG-HUD”). They are a major supplier to the U.S Army and U.S. Marine Corps of Night Vision Head-Up Display systems for use in various types of helicopters. Elbit Systems Ltd. is engaged in a wide range of defense-related airborne, ground and command, control and communications programs throughout the world. Their focus is on the upgrading of existing military platforms and developing new technologies for defense applications. “
Several other equities analysts have also recently issued reports on ESLT. BidaskClub cut shares of Elbit Systems from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 28th. ValuEngine upgraded shares of Elbit Systems from a “hold” rating to a “buy” rating in a research note on Wednesday, September 6th. Finally, Standpoint Research cut shares of Elbit Systems from an “accumulate” rating to a “hold” rating in a research note on Thursday, October 5th. Four investment analysts have rated the stock with a hold rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $143.00.
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Large investors have recently modified their holdings of the company. Parallel Advisors LLC lifted its stake in shares of Elbit Systems by 6.8% in the 2nd quarter. Parallel Advisors LLC now owns 864 shares of the aerospace company’s stock worth $109,000 after purchasing an additional 55 shares during the period. Wealthcare Advisory Partners LLC purchased a new stake in Elbit Systems in the 3rd quarter worth approximately $198,000. Macquarie Group Ltd. purchased a new stake in Elbit Systems in the 3rd quarter worth approximately $206,000. Keybank National Association OH purchased a new stake in Elbit Systems in the 3rd quarter worth approximately $217,000. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in Elbit Systems in the 3rd quarter worth approximately $223,000. Hedge funds and other institutional investors own 11.24% of the company’s stock.
About Elbit Systems
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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