Principal Financial Group Inc. Has $11.11 Million Position in FLIR Systems, Inc. (FLIR)

Principal Financial Group Inc. boosted its holdings in FLIR Systems, Inc. (NASDAQ:FLIR) by 1.0% during the 1st quarter, HoldingsChannel reports. The fund owned 222,120 shares of the scientific and technical instruments company’s stock after buying an additional 2,199 shares during the period. Principal Financial Group Inc.’s holdings in FLIR Systems were worth $11,108,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Oppenheimer Asset Management Inc. lifted its holdings in shares of FLIR Systems by 1.8% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 58,585 shares of the scientific and technical instruments company’s stock valued at $2,930,000 after buying an additional 1,026 shares during the period. Pettee Investors Inc. lifted its holdings in shares of FLIR Systems by 5.8% during the 1st quarter. Pettee Investors Inc. now owns 19,749 shares of the scientific and technical instruments company’s stock valued at $988,000 after buying an additional 1,083 shares during the period. Arizona State Retirement System lifted its holdings in shares of FLIR Systems by 3.2% during the 4th quarter. Arizona State Retirement System now owns 35,111 shares of the scientific and technical instruments company’s stock valued at $1,637,000 after buying an additional 1,089 shares during the period. Ladenburg Thalmann Financial Services Inc. lifted its holdings in shares of FLIR Systems by 23.9% during the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 5,901 shares of the scientific and technical instruments company’s stock valued at $275,000 after buying an additional 1,138 shares during the period. Finally, First Republic Investment Management Inc. lifted its holdings in shares of FLIR Systems by 13.5% during the 4th quarter. First Republic Investment Management Inc. now owns 11,162 shares of the scientific and technical instruments company’s stock valued at $520,000 after buying an additional 1,327 shares during the period. 93.15% of the stock is currently owned by hedge funds and other institutional investors.

In other FLIR Systems news, Director John D. Carter sold 13,600 shares of the stock in a transaction dated Monday, June 4th. The shares were sold at an average price of $54.68, for a total transaction of $743,648.00. Following the completion of the transaction, the director now owns 53,658 shares of the company’s stock, valued at approximately $2,934,019.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Angus L. Macdonald sold 22,368 shares of the stock in a transaction dated Friday, May 4th. The shares were sold at an average price of $54.09, for a total transaction of $1,209,885.12. Following the transaction, the director now directly owns 21,745 shares of the company’s stock, valued at approximately $1,176,187.05. The disclosure for this sale can be found here. Insiders sold a total of 65,626 shares of company stock valued at $3,566,256 in the last quarter. 2.00% of the stock is currently owned by company insiders.

Several research firms have recently weighed in on FLIR. BidaskClub cut FLIR Systems from a “strong-buy” rating to a “buy” rating in a report on Wednesday, June 13th. Needham & Company LLC restated a “buy” rating and issued a $60.00 price objective (up from $58.00) on shares of FLIR Systems in a research note on Thursday, May 31st. Zacks Investment Research upgraded FLIR Systems from a “hold” rating to a “buy” rating and set a $61.00 price objective for the company in a research note on Monday, May 21st. William Blair initiated coverage on FLIR Systems in a research note on Friday, May 18th. They issued a “hold” rating for the company. Finally, Drexel Hamilton lowered FLIR Systems from a “buy” rating to a “hold” rating in a research note on Monday, May 7th. Four investment analysts have rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $52.86.

Shares of FLIR stock opened at $51.97 on Friday. FLIR Systems, Inc. has a 52-week low of $33.95 and a 52-week high of $55.72. The company has a quick ratio of 2.72, a current ratio of 3.91 and a debt-to-equity ratio of 0.24. The firm has a market capitalization of $7.13 billion, a price-to-earnings ratio of 25.99 and a beta of 0.69.

FLIR Systems (NASDAQ:FLIR) last issued its quarterly earnings results on Wednesday, April 25th. The scientific and technical instruments company reported $0.48 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.42 by $0.06. FLIR Systems had a return on equity of 15.43% and a net margin of 5.66%. The business had revenue of $439.60 million during the quarter, compared to analyst estimates of $397.84 million. During the same quarter in the prior year, the business posted $0.36 EPS. FLIR Systems’s revenue for the quarter was up 8.1% compared to the same quarter last year. analysts expect that FLIR Systems, Inc. will post 2.16 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, June 8th. Shareholders of record on Friday, May 25th were paid a $0.16 dividend. The ex-dividend date was Thursday, May 24th. This represents a $0.64 dividend on an annualized basis and a yield of 1.23%. FLIR Systems’s payout ratio is presently 34.04%.

FLIR Systems Profile

FLIR Systems, Inc designs, develops, manufactures, and markets thermal imaging systems, visible-light imaging systems, locater systems, measurement and diagnostic systems, and threat-detection solutions worldwide. The company operates in six segments: Surveillance, Instruments, Security, OEM & Emerging Markets, Maritime, and Detection.

Want to see what other hedge funds are holding FLIR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for FLIR Systems, Inc. (NASDAQ:FLIR).

Institutional Ownership by Quarter for FLIR Systems (NASDAQ:FLIR)

Receive News & Ratings for FLIR Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FLIR Systems and related companies with MarketBeat.com's FREE daily email newsletter.


Leave a Reply