Shapiro Capital Management LLC Has $94.16 Million Holdings in FLIR Systems, Inc. (FLIR)
Shapiro Capital Management LLC lowered its stake in FLIR Systems, Inc. (NASDAQ:FLIR) by 3.3% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,716,574 shares of the scientific and technical instruments company’s stock after selling 92,000 shares during the period. FLIR Systems makes up approximately 2.3% of Shapiro Capital Management LLC’s holdings, making the stock its 19th biggest position. Shapiro Capital Management LLC owned about 1.98% of FLIR Systems worth $94,156,000 as of its most recent SEC filing.
Several other large investors also recently made changes to their positions in FLIR. Commonwealth Bank of Australia lifted its position in shares of FLIR Systems by 14.0% in the second quarter. Commonwealth Bank of Australia now owns 3,250 shares of the scientific and technical instruments company’s stock worth $111,000 after buying an additional 400 shares during the last quarter. Acrospire Investment Management LLC acquired a new stake in shares of FLIR Systems in the second quarter worth about $116,000. Daiwa Securities Group Inc. lifted its position in shares of FLIR Systems by 21.9% in 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 acquired a new stake in shares of FLIR Systems in the first quarter worth about $165,000. Finally, OppenheimerFunds Inc. acquired a new stake in shares of FLIR Systems in the first quarter worth about $203,000. 90.73% of the stock is owned by institutional investors.
A number of brokerages have weighed in on FLIR. BidaskClub raised FLIR Systems from a “strong sell” rating to a “sell” rating in a research report on Tuesday, July 11th. Raymond James Financial, Inc. raised FLIR Systems from a “market perform” rating to a “strong-buy” rating and set a $43.00 price target for the company in a research report on Monday, July 10th. UBS AG raised FLIR Systems from a “market perform” rating to a “strong-buy” rating in a research report on Monday, July 10th. Zacks Investment Research cut FLIR Systems from a “buy” rating to a “hold” rating in a research report on Friday, July 28th. Finally, Stephens began coverage on FLIR Systems in a research report on Friday, July 7th. They issued an “overweight” rating for the company. One research analyst has rated the stock with a sell rating, four have given a hold rating, four have given a buy rating and two have given a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $38.38.
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FLIR Systems, Inc. (NASDAQ:FLIR) traded down 2.73% during trading on Tuesday, hitting $39.55. The company had a trading volume of 1,312,552 shares. The stock has a market capitalization of $5.43 billion, a PE ratio of 25.50 and a beta of 0.60. FLIR Systems, Inc. has a one year low of $28.26 and a one year high of $40.76. The stock has a 50-day moving average of $38.05 and a 200-day moving average of $36.93.
FLIR Systems (NASDAQ:FLIR) last issued its earnings results on Wednesday, July 26th. The scientific and technical instruments company reported $0.42 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.41 by $0.01. FLIR Systems had a net margin of 12.44% and a return on equity of 13.97%. The business had revenue of $434.12 million during the quarter, compared to the consensus estimate of $437.32 million. During the same period last year, the business posted $0.37 EPS. FLIR Systems’s revenue was up 7.8% on a year-over-year basis. On average, equities analysts anticipate that FLIR Systems, Inc. will post $1.85 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 8th. Investors of record on Friday, August 25th were paid a $0.15 dividend. The ex-dividend date was Wednesday, August 23rd. This represents a $0.60 annualized dividend and a yield of 1.48%. FLIR Systems’s dividend payout ratio (DPR) is currently 38.46%.
In related news, Director Earl R. Lewis sold 11,587 shares of the firm’s stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $37.27, for a total value of $431,847.49. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Earl R. Lewis sold 20,000 shares of the firm’s stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $38.22, for a total transaction of $764,400.00. Following the completion of the sale, the director now owns 509,379 shares of the company’s stock, valued at $19,468,465.38. The disclosure for this sale can be found here. Insiders sold a total of 292,907 shares of company stock valued at $11,191,737 over the last quarter. 3.00% of the stock is currently owned by company insiders.
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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