Bank of New York Mellon Corp decreased its position in shares of FLIR Systems, Inc. (NASDAQ:FLIR) by 3.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,266,947 shares of the scientific and technical instruments company’s stock after selling 70,082 shares during the period. Bank of New York Mellon Corp’s holdings in FLIR Systems were worth $117,814,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in the stock. Royal Bank of Canada raised its position in shares of FLIR Systems by 23.1% in the 1st quarter. Royal Bank of Canada now owns 76,614 shares of the scientific and technical instruments company’s stock worth $3,831,000 after purchasing an additional 14,378 shares during the last quarter. Principal Financial Group Inc. raised its position in shares of FLIR Systems by 1.0% in the 1st quarter. Principal Financial Group Inc. now owns 222,120 shares of the scientific and technical instruments company’s stock worth $11,108,000 after purchasing an additional 2,199 shares during the last quarter. Suntrust Banks Inc. purchased a new position in shares of FLIR Systems in the 1st quarter worth about $225,000. Brown Advisory Inc. raised its position in shares of FLIR Systems by 62.1% in the 1st quarter. Brown Advisory Inc. now owns 13,176 shares of the scientific and technical instruments company’s stock worth $659,000 after purchasing an additional 5,050 shares during the last quarter. Finally, DnB Asset Management AS raised its position in shares of FLIR Systems by 27.4% in the 2nd quarter. DnB Asset Management AS now owns 15,342 shares of the scientific and technical instruments company’s stock worth $797,000 after purchasing an additional 3,300 shares during the last quarter. 90.72% of the stock is currently owned by hedge funds and other institutional investors.
In other FLIR Systems news, SVP Todd M. Duchene sold 1,000 shares of the business’s stock in a transaction dated Monday, October 15th. The stock was sold at an average price of $55.63, for a total value of $55,630.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Jeffrey Frank sold 42,912 shares of the business’s stock in a transaction dated Friday, September 7th. The stock was sold at an average price of $62.19, for a total value of $2,668,697.28. The disclosure for this sale can be found here. In the last three months, insiders sold 90,912 shares of company stock valued at $5,594,537. 2.00% of the stock is owned by insiders.
FLIR has been the subject of several recent analyst reports. BidaskClub lowered FLIR Systems from a “hold” rating to a “sell” rating in a research report on Thursday, October 11th. Imperial Capital lowered their price target on FLIR Systems from $60.00 to $51.00 and set an “in-line” rating for the company in a research report on Thursday, November 1st. They noted that the move was a valuation call. Zacks Investment Research raised FLIR Systems from a “hold” rating to a “buy” rating and set a $60.00 price target for the company in a research report on Monday, July 23rd. ValuEngine lowered FLIR Systems from a “buy” rating to a “hold” rating in a research report on Wednesday, October 31st. Finally, Needham & Company LLC decreased their target price on FLIR Systems from $62.00 to $60.00 and set a “buy” rating for the company in a research report on Thursday, November 1st. One analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $58.17.
Shares of NASDAQ:FLIR opened at $48.45 on Wednesday. FLIR Systems, Inc. has a fifty-two week low of $45.00 and a fifty-two week high of $63.88. The company has a quick ratio of 3.04, a current ratio of 4.21 and a debt-to-equity ratio of 0.22. The stock has a market capitalization of $6.55 billion, a price-to-earnings ratio of 25.77 and a beta of 1.10.
FLIR Systems (NASDAQ:FLIR) last issued its earnings results on Tuesday, October 30th. The scientific and technical instruments company reported $0.57 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.57. FLIR Systems had a return on equity of 16.74% and a net margin of 7.33%. The business had revenue of $434.89 million during the quarter, compared to analyst estimates of $445.46 million. During the same quarter in the previous year, the firm earned $0.52 EPS. FLIR Systems’s revenue was down 6.4% on a year-over-year basis. Sell-side analysts forecast that FLIR Systems, Inc. will post 2.21 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 7th. Shareholders of record on Friday, November 23rd will be given a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 1.32%. The ex-dividend date of this dividend is Wednesday, November 21st. FLIR Systems’s dividend payout ratio (DPR) is 34.04%.
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About FLIR Systems
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.
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