Pitcairn Co. reduced its position in shares of Flir Systems Inc. (NASDAQ:FLIR) by 70.3% during the second quarter, Holdings Channel reports. The fund owned 13,509 shares of the company’s stock after selling 31,982 shares during the period. Pitcairn Co.’s holdings in Flir Systems were worth $418,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Carroll Financial Associates Inc. bought a new position in Flir Systems during the second quarter worth approximately $105,000. Nordea Investment Management AB boosted its stake in shares of Flir Systems by 9.6% in the second quarter. Nordea Investment Management AB now owns 3,763 shares of the company’s stock valued at $116,000 after buying an additional 331 shares in the last quarter. Contravisory Investment Management Inc. acquired a new stake in shares of Flir Systems during the second quarter valued at about $200,000. ING Groep NV acquired a new stake in shares of Flir Systems during the first quarter valued at about $257,000. Finally, M&T Bank Corp acquired a new stake in shares of Flir Systems during the first quarter valued at about $282,000. 90.74% of the stock is currently owned by institutional investors.
Flir Systems Inc. (NASDAQ:FLIR) traded up 0.13% during mid-day trading on Friday, hitting $31.55. 450,176 shares of the company were exchanged. Flir Systems Inc. has a 12 month low of $25.12 and a 12 month high of $34.09. The stock has a market cap of $4.33 billion, a price-to-earnings ratio of 23.28 and a beta of 0.51. The firm has a 50 day moving average price of $31.05 and a 200 day moving average price of $31.51.
Flir Systems (NASDAQ:FLIR) last posted its quarterly earnings results on Wednesday, July 27th. The company reported $0.34 EPS for the quarter, missing the consensus estimate of $0.35 by $0.01. The business earned $402.70 million during the quarter, compared to analysts’ expectations of $401.56 million. Flir Systems had a net margin of 11.85% and a return on equity of 12.68%. The firm’s quarterly revenue was up 2.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.36 EPS. Analysts anticipate that Flir Systems Inc. will post $1.61 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 2nd. Shareholders of record on Friday, August 19th were issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.52%. The ex-dividend date of this dividend was Wednesday, August 17th. Flir Systems’s dividend payout ratio (DPR) is 35.04%.
Several analysts have recently issued reports on FLIR shares. Imperial Capital reissued an “outperform” rating and set a $40.00 price target on shares of Flir Systems in a research report on Friday, September 9th. Raymond James Financial Inc. cut shares of Flir Systems from a “strong-buy” rating to an “outperform” rating and set a $36.00 price target on the stock. in a research report on Monday, July 25th. Finally, Zacks Investment Research raised shares of Flir Systems from a “sell” rating to a “hold” rating in a research report on Monday, July 18th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $36.50.
In other Flir Systems news, VP Jeffrey Frank sold 10,000 shares of Flir Systems stock in a transaction dated Friday, September 9th. The stock was sold at an average price of $30.73, for a total value of $307,300.00. Following the completion of the sale, the vice president now owns 21,769 shares in the company, valued at approximately $668,961.37. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 3.00% of the stock is owned by company insiders.
Flir Systems Company Profile
FLIR Systems, Inc (FLIR) designs, develops, markets and distributes thermal imaging systems, visible-light imaging systems, locater systems, measurement and diagnostic systems and advanced threat-detection solutions. The Company’s segments include Surveillance, Instruments, Security, OEM & Emerging Markets, Maritime and Detection.
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