FLIR Systems, Inc. (FLIR) Holdings Boosted by Vanguard Group Inc.
Vanguard Group Inc. grew its stake in shares of FLIR Systems, Inc. (NASDAQ:FLIR) by 2.1% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 13,611,660 shares of the scientific and technical instruments company’s stock after buying an additional 285,535 shares during the period. Vanguard Group Inc. owned approximately 9.92% of FLIR Systems worth $471,779,000 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 the business. Commonwealth Bank of Australia grew its position in shares of FLIR Systems by 14.0% during the 2nd 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 period. Acrospire Investment Management LLC acquired a new stake in shares of FLIR Systems in the 2nd quarter valued at approximately $116,000. Quantbot Technologies LP acquired a new stake in shares of FLIR Systems in the 1st quarter valued at approximately $165,000. OppenheimerFunds Inc. acquired a new stake in shares of FLIR Systems in the 1st quarter valued at approximately $203,000. Finally, BlueCrest Capital Management Ltd acquired a new stake in shares of FLIR Systems in the 1st quarter valued at approximately $226,000. Hedge funds and other institutional investors own 90.73% of the company’s stock.
Several research analysts recently weighed in on the stock. BidaskClub lowered shares of FLIR Systems from a “hold” rating to a “sell” rating in a research note on Monday, July 31st. Needham & Company LLC upped their target price on shares of FLIR Systems from $40.00 to $42.00 and gave the company a “buy” rating in a research note on Wednesday, September 6th. Zacks Investment Research raised shares of FLIR Systems from a “hold” rating to a “buy” rating and set a $39.00 target price for the company in a research note on Tuesday, June 27th. Stephens initiated coverage on shares of FLIR Systems in a report on Friday, July 7th. They issued an “overweight” rating on the stock. Finally, UBS AG upgraded shares of FLIR Systems from a “market perform” rating to a “strong-buy” rating in a report on Monday, July 10th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, three have issued a buy rating and two have issued a strong buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $38.71.
In other FLIR Systems news, Director Earl R. Lewis sold 20,000 shares of FLIR Systems stock in a transaction that occurred on Wednesday, August 16th. The stock was sold at an average price of $38.22, for a total value of $764,400.00. Following the completion of the sale, the director now directly owns 509,379 shares in the company, valued at $19,468,465.38. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Earl R. Lewis sold 11,587 shares of the business’s stock in a transaction that occurred on Monday, July 31st. The shares were 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 90 days, insiders have sold 292,907 shares of company stock worth $11,191,737. 3.00% of the stock is owned by corporate insiders.
FLIR Systems, Inc. (NASDAQ:FLIR) opened at 41.05 on Wednesday. The company has a 50 day moving average price of $38.71 and a 200 day moving average price of $37.17. FLIR Systems, Inc. has a 12 month low of $28.26 and a 12 month high of $41.27. The firm has a market capitalization of $5.63 billion, a price-to-earnings ratio of 26.47 and a beta of 0.60.
FLIR Systems (NASDAQ:FLIR) last posted its quarterly earnings data on Wednesday, July 26th. The scientific and technical instruments company reported $0.42 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.41 by $0.01. The firm had revenue of $434.12 million during 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 business’s quarterly revenue was up 7.8% on a year-over-year basis. During the same period last year, the company posted $0.37 EPS. Analysts anticipate that FLIR Systems, Inc. will post $1.85 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 8th. Investors of record on Friday, August 25th were given a dividend of $0.15 per share. The ex-dividend date was Wednesday, August 23rd. This represents a $0.60 annualized dividend and a dividend yield of 1.46%. FLIR Systems’s payout ratio is 38.46%.
FLIR Systems Profile
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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