Why These Defense Stocks Are Gaining This Week

2. Elbit Systems Ltd. (NASDAQ:ESLT)

Weekly Gains: 14.80%

Elbit Systems Ltd. (NASDAQ:ESLT) is an Israel-based defense technology company. It is among the defense stocks that are gaining this week.

The company’s share price is up 38% year-to-date, with gains of nearly 15% over the past week. As of the close of business on March 7, the stock was valued at a record-high of $357.03 per share. Elbit Systems Ltd. (NASDAQ:ESLT) has been awarded several high-value contracts in recent months, which has raised investor interest in its upcoming Q4 2024 earnings call scheduled for March 18.

In November 2024, Elbit Systems Ltd. (NASDAQ:ESLT) was awarded contracts worth $335 million to supply defense systems, including rocket launchers and unmanned aircraft, to a European country. The company also received a $60 million contract in January this year to provide Counter Unmanned Aerial Systems to a NATO member state. According to reports, ESLT was recently picked by the Moroccan military as well for the purchase of self-propelled artillery.