Elbit Systems (NASDAQ:ESLT) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Friday.
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 also recently issued reports on ESLT. BidaskClub upgraded shares of Elbit Systems from a “buy” rating to a “strong-buy” rating in a report on Tuesday, August 22nd. ValuEngine upgraded shares of Elbit Systems from a “hold” rating to a “buy” rating in a report on Wednesday, September 6th. Finally, Standpoint Research downgraded shares of Elbit Systems from an “accumulate” rating to a “hold” rating in a report on Thursday, October 5th. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Hold” and an average target price of $143.00.
Several institutional investors and hedge funds have recently bought and sold shares of ESLT. Wetherby Asset Management Inc. increased its holdings in Elbit Systems by 2.2% in the 2nd quarter. Wetherby Asset Management Inc. now owns 1,928 shares of the aerospace company’s stock worth $238,000 after buying an additional 41 shares during the period. Parallel Advisors LLC increased its holdings in 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 buying an additional 55 shares during the period. Dimensional Fund Advisors LP increased its holdings in Elbit Systems by 1.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 9,766 shares of the aerospace company’s stock worth $1,209,000 after buying an additional 108 shares during the period. PNC Financial Services Group Inc. increased its holdings in Elbit Systems by 4.3% in the 2nd quarter. PNC Financial Services Group Inc. now owns 4,687 shares of the aerospace company’s stock worth $580,000 after buying an additional 194 shares during the period. Finally, US Bancorp DE increased its holdings in Elbit Systems by 13.4% in the 2nd quarter. US Bancorp DE now owns 2,080 shares of the aerospace company’s stock worth $257,000 after buying an additional 245 shares during the period. Hedge funds and other institutional investors own 11.15% of the company’s stock.
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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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