Bank Pictet & Cie Europe AG Makes New Investment in Elbit Systems Ltd. $ESLT

Bank Pictet & Cie Europe AG acquired a new position in Elbit Systems Ltd. (NASDAQ:ESLT) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 35,530 shares of the aerospace company’s stock, valued at approximately $18,113,000. Bank Pictet & Cie Europe AG owned approximately 0.08% of Elbit Systems as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. USA Financial Formulas purchased a new position in Elbit Systems in the 3rd quarter worth approximately $26,000. Activest Wealth Management acquired a new position in shares of Elbit Systems during the second quarter worth $28,000. Traub Capital Management LLC acquired a new position in shares of Elbit Systems during the second quarter worth $31,000. Financial Consulate Inc. purchased a new position in shares of Elbit Systems in the third quarter valued at $60,000. Finally, Montag A & Associates Inc. acquired a new stake in Elbit Systems during the 2nd quarter valued at $68,000. 17.88% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ESLT has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. boosted 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. Morgan Stanley initiated coverage on Elbit Systems in a research report on Thursday, December 11th. They set an “equal weight” rating and a $531.00 target price on the stock. Zacks Research downgraded Elbit Systems from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 12th. Wall Street Zen lowered Elbit Systems from a “buy” rating to a “hold” rating in a research note on Saturday, December 13th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Elbit Systems in a research report on Monday. Two research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $550.33.

Elbit Systems Stock Performance

ESLT stock opened at $577.71 on Friday. The stock’s 50 day simple moving average is $503.24 and its 200 day simple moving average is $482.19. Elbit Systems Ltd. has a 12-month low of $258.07 and a 12-month high of $586.34. The firm has a market cap of $25.68 billion, a P/E ratio of 58.71, a P/E/G ratio of 2.00 and a beta of 0.21. The company has a current ratio of 1.32, a quick ratio of 0.76 and a debt-to-equity ratio of 0.06.

Elbit Systems (NASDAQ:ESLT) last released its quarterly earnings data on Tuesday, November 18th. The aerospace company reported $3.35 EPS for the quarter, topping analysts’ consensus estimates of $2.75 by $0.60. The firm had revenue of $1.92 billion during the quarter, compared to the consensus estimate of $1.99 billion. Elbit Systems had a net margin of 5.91% and a return on equity of 15.04%. As a group, equities research analysts predict that Elbit Systems Ltd. will post 8.05 EPS for the current year.

Elbit Systems Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 5th. Investors of record on Monday, December 22nd will be paid a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date is Monday, December 22nd. Elbit Systems’s dividend payout ratio is presently 22.87%.

Elbit Systems Company 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.