Elbit Systems (NASDAQ:ESLT) Sets New 12-Month High - Here's What Happened

Elbit Systems Ltd. (NASDAQ:ESLT) achieved a notable milestone recently, as its shares reached a new 52-week high during trading on Monday. The stock climbed to a peak of $334.65 before settling at $332.32 by the end of trading, with a total trading volume of 13,878 shares. Notably, the stock had previously closed at $310.99.

Recent Changes in Analyst Ratings

In separate news, StockNews.com has revised its ratings on Elbit Systems, downgrading the shares from a "strong-buy" to a "buy" rating in a report issued on Tuesday, February 25th.

Elbit Systems Sees 8.3% Increase

This recent performance has pushed the company's market capitalization to $14.97 billion. The price-to-earnings (P/E) ratio stands at 57.60, and the company has a beta of 0.53. Financial indicators also show a solid debt-to-equity ratio of 0.10, a current ratio of 1.15, and a quick ratio of 0.64. The stock's fifty-day moving average now sits at $289.59, while the 200-day moving average is at $244.48.

Institutional Investor Activity

A number of hedge funds and other institutional investors have recently adjusted their stakes in Elbit Systems. Creative Planning increased its holdings by 32.6% in the third quarter, now owning 3,814 shares worth $763,000 after acquiring an additional 938 shares. Furthermore, First Trust Direct Indexing L.P. raised its holdings by 2.5% to own 2,987 shares valued at $598,000. US Bancorp DE increased its stake by 9.6%, bringing its total to 2,468 shares worth $494,000. Additionally, Van ECK Associates Corp saw a 13.9% increase in holdings, now owning 11,133 shares valued at $2,314,000. Summit Global Investments also acquired a new position in the company, estimated at about $251,000. To date, institutional investors and hedge funds collectively control approximately 17.88% of Elbit Systems' stock.

Company Overview

Elbit Systems Ltd. focuses on developing and providing a wide range of airborne, land, and naval systems and products tailored for defense, homeland security, and commercial aviation applications, especially in Israel. The company's operations span various segments, including Aerospace, C4I and Cyber, ISTAR and EW, Land, and Elbit Systems of America.

Investment Considerations

If you are thinking of investing $1,000 in Elbit Systems, it would be prudent to consider other recommendations as well. While it currently has a Hold rating among analysts, there are several stocks being highlighted as better investment opportunities at this time.

Elbit, Stocks, Investment