Pictet Asset Management Holding SA Sells 673 Shares of Elbit Systems Ltd. (NASDAQ:ESLT)

Pictet Asset Management Holding SA trimmed its holdings in Elbit Systems Ltd. (NASDAQ:ESLT) by 10.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,088 shares of the aerospace company’s stock after selling 673 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Elbit Systems were worth $1,592,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in ESLT. Blue Trust Inc. grew its position in shares of Elbit Systems by 7.3% during the fourth quarter. Blue Trust Inc. now owns 987 shares of the aerospace company’s stock valued at $255,000 after purchasing an additional 67 shares in the last quarter. Prestige Wealth Management Group LLC increased its stake in Elbit Systems by 150.0% in the 4th quarter. Prestige Wealth Management Group LLC now owns 125 shares of the aerospace company’s stock worth $32,000 after acquiring an additional 75 shares during the last quarter. Smartleaf Asset Management LLC raised its holdings in shares of Elbit Systems by 196.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 160 shares of the aerospace company’s stock worth $41,000 after acquiring an additional 106 shares in the last quarter. Signaturefd LLC boosted its position in shares of Elbit Systems by 10.2% during the 4th quarter. Signaturefd LLC now owns 1,239 shares of the aerospace company’s stock valued at $320,000 after acquiring an additional 115 shares during the last quarter. Finally, State Street Corp grew its holdings in shares of Elbit Systems by 3.1% in the third quarter. State Street Corp now owns 4,534 shares of the aerospace company’s stock valued at $907,000 after purchasing an additional 136 shares in the last quarter. 17.88% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Elbit Systems Trading Down 5.1 %

ESLT opened at $370.15 on Friday. The stock has a 50-day moving average of $339.38 and a 200 day moving average of $275.20. The company has a current ratio of 1.15, a quick ratio of 0.64 and a debt-to-equity ratio of 0.10. Elbit Systems Ltd. has a 12 month low of $175.30 and a 12 month high of $420.00. The firm has a market cap of $16.45 billion, a P/E ratio of 63.27 and a beta of 0.32.

Elbit Systems (NASDAQ:ESLT) last released its earnings results on Tuesday, March 18th. The aerospace company reported $2.66 earnings per share for the quarter, beating the consensus estimate of $1.95 by $0.71. The firm had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $1.78 billion. Elbit Systems had a return on equity of 11.34% and a net margin of 4.00%. As a group, research analysts forecast that Elbit Systems Ltd. will post 8.05 EPS for the current year.

Elbit Systems Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, May 5th. Stockholders of record on Tuesday, April 22nd will be issued a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 0.65%. The ex-dividend date is Tuesday, April 22nd. This is a positive change from Elbit Systems’s previous quarterly dividend of $0.50. Elbit Systems’s dividend payout ratio (DPR) is 27.72%.

Elbit Systems 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.