FLIR Systems, Inc. (FLIR) Holdings Boosted by Eagle Asset Management Inc.
Eagle Asset Management Inc. grew its stake in shares of FLIR Systems, Inc. (NASDAQ:FLIR) by 253.7% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 798,986 shares of the scientific and technical instruments company’s stock after buying an additional 573,103 shares during the period. Eagle Asset Management Inc. owned approximately 0.58% of FLIR Systems worth $27,692,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds also recently modified their holdings of FLIR. TrimTabs Asset Management LLC bought a new position in FLIR Systems during the first quarter worth about $112,000. Mn Services Vermogensbeheer B.V. boosted its holdings in FLIR Systems by 4.7% during the first quarter. Mn Services Vermogensbeheer B.V. now owns 3,638 shares of the scientific and technical instruments company’s stock worth $123,000 after buying an additional 163 shares during the last quarter. Daiwa Securities Group Inc. boosted its holdings in FLIR Systems by 21.9% during the first quarter. Daiwa Securities Group Inc. now owns 3,900 shares of the scientific and technical instruments company’s stock worth $141,000 after buying an additional 700 shares during the last quarter. Quantbot Technologies LP bought a new position in FLIR Systems during the first quarter worth about $165,000. Finally, OppenheimerFunds Inc. bought a new position in FLIR Systems during the first quarter worth about $203,000. Hedge funds and other institutional investors own 90.73% of the company’s stock.
Shares of FLIR Systems, Inc. (NASDAQ:FLIR) opened at 38.25 on Monday. The firm has a market cap of $5.25 billion, a price-to-earnings ratio of 24.66 and a beta of 0.60. FLIR Systems, Inc. has a 12 month low of $28.26 and a 12 month high of $38.94. The company has a 50-day moving average price of $37.79 and a 200-day moving average price of $36.74.
FLIR Systems (NASDAQ:FLIR) last announced its quarterly earnings results on Wednesday, July 26th. The scientific and technical instruments company reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.01. The business had revenue of $434.12 million for the quarter, compared to analyst estimates of $437.32 million. FLIR Systems had a return on equity of 13.97% and a net margin of 12.44%. The company’s quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.37 earnings per share. Analysts forecast that FLIR Systems, Inc. will post $1.85 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 8th. Shareholders of record on Friday, August 25th will be issued a $0.15 dividend. The ex-dividend date is Wednesday, August 23rd. This represents a $0.60 annualized dividend and a yield of 1.57%. FLIR Systems’s payout ratio is currently 38.46%.
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In other FLIR Systems news, Director William Wright Crouch sold 38,800 shares of the stock in a transaction that occurred on Wednesday, June 14th. The stock was sold at an average price of $35.95, for a total value of $1,394,860.00. Following the transaction, the director now owns 36,006 shares in the company, valued at $1,294,415.70. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Earl R. Lewis sold 11,587 shares of the stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $37.27, for a total value of $431,847.49. The disclosure for this sale can be found here. In the last quarter, insiders sold 70,387 shares of company stock worth $2,591,107. Corporate insiders own 3.00% of the company’s stock.
Several equities analysts have recently weighed in on the company. BidaskClub cut FLIR Systems from a “hold” rating to a “sell” rating in a report on Monday, July 31st. Zacks Investment Research upgraded FLIR Systems from a “hold” rating to a “buy” rating and set a $39.00 price objective on the stock in a report on Tuesday, June 27th. Stephens assumed coverage on FLIR Systems in a report on Friday, July 7th. They set an “overweight” rating on the stock. UBS AG upgraded FLIR Systems from a “market perform” rating to a “strong-buy” rating in a report on Monday, July 10th. Finally, Raymond James Financial, Inc. upgraded FLIR Systems from a “market perform” rating to a “strong-buy” rating and set a $43.00 price objective on the stock in a report on Monday, July 10th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, four have assigned a buy rating and two have given a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $38.13.
About FLIR Systems
FLIR Systems, Inc (FLIR) designs, develops, markets and distributes thermal imaging systems, visible-light imaging systems, locater systems, measurement and diagnostic systems and threat-detection solutions. The Company’s segments include Surveillance, Instruments, Security, OEM & Emerging Markets, Maritime and Detection.
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