ARK Investment Management LLC Grows Holdings in Elbit Systems Ltd. $ESLT

ARK Investment Management LLC boosted its position in Elbit Systems Ltd. (NASDAQ:ESLT) by 11.6% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 53,569 shares of the aerospace company’s stock after purchasing an additional 5,550 shares during the period. ARK Investment Management LLC’s holdings in Elbit Systems were worth $27,309,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ESLT. USA Financial Formulas bought a new position in shares of Elbit Systems during the 3rd quarter worth approximately $26,000. Traub Capital Management LLC purchased a new stake in shares of Elbit Systems during the second quarter valued at approximately $31,000. Financial Consulate Inc. bought a new stake in Elbit Systems during the third quarter worth $60,000. Montag A & Associates Inc. bought a new stake in Elbit Systems during the second quarter worth $68,000. Finally, SBI Securities Co. Ltd. grew its stake in Elbit Systems by 20.9% in the 2nd quarter. SBI Securities Co. Ltd. now owns 185 shares of the aerospace company’s stock valued at $83,000 after purchasing an additional 32 shares during the period. Hedge funds and other institutional investors own 17.88% of the company’s stock.

Elbit Systems Stock Performance

NASDAQ ESLT opened at $885.00 on Thursday. The firm has a market cap of $39.34 billion, a P/E ratio of 89.94, a price-to-earnings-growth ratio of 2.50 and a beta of 0.22. The company has a quick ratio of 0.76, a current ratio of 1.32 and a debt-to-equity ratio of 0.06. The company’s 50 day moving average is $695.65 and its 200-day moving average is $563.45. Elbit Systems Ltd. has a 12-month low of $343.00 and a 12-month high of $886.27.

Wall Street Analysts Forecast Growth

ESLT has been the topic of a number of recent analyst reports. Zacks Research cut Elbit Systems from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 12th. JPMorgan Chase & Co. raised their price objective on shares of Elbit Systems from $530.00 to $580.00 and gave the stock a “neutral” rating in a report on Friday, December 19th. Weiss Ratings reissued a “buy (b)” rating on shares of Elbit Systems in a research report on Monday, December 29th. Morgan Stanley assumed coverage on shares of Elbit Systems in a research note on Thursday, December 11th. They set an “equal weight” rating and a $531.00 price target for the company. Finally, Wall Street Zen upgraded Elbit Systems from a “hold” rating to a “buy” rating in a research note on Saturday, January 17th. Two analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $550.33.

Elbit Systems Profile

Elbit Systems Ltd. is an Israel-based defense electronics company that designs, develops and supplies a broad range of systems for military, homeland security and commercial aviation customers. The company focuses on integrated, platform-level solutions that combine sensors, communications, command-and-control software and weapons integration to support intelligence, surveillance and reconnaissance (ISR), force protection and mission management.

Its product and service portfolio spans unmanned aircraft systems, electro-optic and signal intelligence systems, electronic warfare and communications equipment, avionics and mission systems for military and commercial aircraft, and land and naval systems.