Elbit Systems (NASDAQ:ESLT) Shares Gap Up – Still a Buy?

Elbit Systems Ltd. (NASDAQ:ESLT) shares gapped up prior to trading on Tuesday . The stock had previously closed at $369.26, but opened at $395.99. Elbit Systems shares last traded at $411.57, with a volume of 44,265 shares traded.

Analyst Ratings Changes

Separately, StockNews.com lowered Elbit Systems from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, February 25th.

Elbit Systems Stock Up 9.5 %

The company has a 50-day moving average of $310.09 and a 200-day moving average of $256.37. The company has a market capitalization of $17.98 billion, a price-to-earnings ratio of 69.55 and a beta of 0.53. The company has a current ratio of 1.15, a quick ratio of 0.64 and a debt-to-equity ratio of 0.10.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in ESLT. Hurley Capital LLC acquired a new position in Elbit Systems during the 4th quarter valued at about $26,000. Prestige Wealth Management Group LLC grew its stake in Elbit Systems by 150.0% during the 4th quarter. Prestige Wealth Management Group LLC now owns 125 shares of the aerospace company’s stock valued at $32,000 after purchasing an additional 75 shares during the last quarter. Coastline Trust Co purchased a new stake in Elbit Systems during the 3rd quarter valued at about $34,000. Morse Asset Management Inc purchased a new stake in Elbit Systems during the 3rd quarter valued at about $40,000. Finally, Sierra Ocean LLC purchased a new stake in Elbit Systems during the 4th quarter valued at about $41,000. 17.88% of the stock is owned by institutional investors and hedge funds.

About Elbit Systems

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.