Elbit Systems (NASDAQ:ESLT) Sets New 1-Year High – Here’s What Happened

Elbit Systems Ltd. (NASDAQ:ESLT)’s stock price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $414.64 and last traded at $408.53, with a volume of 215135 shares changing hands. The stock had previously closed at $369.26.

Analysts Set New Price Targets

Separately, StockNews.com downgraded shares of Elbit Systems from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, February 25th.

Elbit Systems Price Performance

The company’s 50-day simple moving average is $312.94 and its 200-day simple moving average is $257.80. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.15 and a quick ratio of 0.64. The stock has a market capitalization of $18.16 billion, a price-to-earnings ratio of 69.83 and a beta of 0.53.

Institutional Investors Weigh In On Elbit Systems

Several hedge funds have recently bought and sold shares of the stock. Mackenzie Financial Corp lifted its position in Elbit Systems by 16.6% during the fourth quarter. Mackenzie Financial Corp now owns 1,765 shares of the aerospace company’s stock worth $455,000 after acquiring an additional 251 shares during the last quarter. Public Employees Retirement System of Ohio lifted its position in Elbit Systems by 1.8% during the fourth quarter. Public Employees Retirement System of Ohio now owns 3,938 shares of the aerospace company’s stock worth $1,031,000 after acquiring an additional 69 shares during the last quarter. Voloridge Investment Management LLC acquired a new stake in Elbit Systems during the fourth quarter worth approximately $1,479,000. Squarepoint Ops LLC lifted its position in Elbit Systems by 105.8% during the fourth quarter. Squarepoint Ops LLC now owns 809 shares of the aerospace company’s stock worth $209,000 after acquiring an additional 14,796 shares during the last quarter. Finally, Sig Brokerage LP acquired a new stake in shares of Elbit Systems in the fourth quarter valued at approximately $591,000. 17.88% of the stock is currently owned by institutional investors and hedge funds.

Elbit Systems Company Profile

Elbit Systems Ltd. develops and supplies a portfolio of airborne, land, and naval systems and products for the defense, homeland security, and commercial aviation applications primarily in Israel. The company operates through Aerospace, C4I and Cyber, ISTAR and EW, Land, and Elbit Systems of America segments.