Nationwide Fund Advisors Reduces Position in Flir Systems Inc. (FLIR)
Nationwide Fund Advisors cut its stake in Flir Systems Inc. (NASDAQ:FLIR) by 2.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 277,517 shares of the company’s stock after selling 7,296 shares during the period. Nationwide Fund Advisors owned approximately 0.20% of Flir Systems worth $8,589,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Marathon Asset Management LLP boosted its stake in Flir Systems by 1.8% in the second quarter. Marathon Asset Management LLP now owns 1,429,521 shares of the company’s stock worth $44,244,000 after buying an additional 25,953 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Flir Systems by 13.4% in the second quarter. JPMorgan Chase & Co. now owns 1,418,796 shares of the company’s stock worth $43,912,000 after buying an additional 167,934 shares during the last quarter. BlackRock Group LTD boosted its stake in Flir Systems by 17.8% in the first quarter. BlackRock Group LTD now owns 1,348,538 shares of the company’s stock worth $44,434,000 after buying an additional 203,638 shares during the last quarter. Geode Capital Management LLC boosted its stake in Flir Systems by 2.6% in the first quarter. Geode Capital Management LLC now owns 1,170,368 shares of the company’s stock worth $38,486,000 after buying an additional 29,288 shares during the last quarter. Finally, Norges Bank acquired a new stake in Flir Systems during the fourth quarter worth $32,231,000. Institutional investors own 90.74% of the company’s stock.
Flir Systems Inc. (NASDAQ:FLIR) traded up 0.45% during mid-day trading on Wednesday, hitting $31.28. The stock had a trading volume of 221,042 shares. Flir Systems Inc. has a one year low of $25.12 and a one year high of $34.09. The company has a market cap of $4.29 billion, a price-to-earnings ratio of 23.08 and a beta of 0.51. The company has a 50 day moving average price of $31.07 and a 200-day moving average price of $31.52.
Flir Systems (NASDAQ:FLIR) last posted its earnings results on Wednesday, July 27th. The company reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by $0.01. The firm had revenue of $402.70 million for the quarter, compared to analyst estimates of $401.56 million. Flir Systems had a net margin of 11.85% and a return on equity of 12.68%. The company’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.36 earnings per share. Equities analysts expect that Flir Systems Inc. will post $1.61 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 2nd. Stockholders of record on Friday, August 19th were paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.54%. The ex-dividend date was Wednesday, August 17th. Flir Systems’s dividend payout ratio is currently 35.04%.
A number of equities analysts recently issued reports on FLIR shares. Raymond James Financial Inc. lowered Flir Systems from a “strong-buy” rating to an “outperform” rating and set a $36.00 price target for the company. in a research note on Monday, July 25th. Zacks Investment Research upgraded Flir Systems from a “sell” rating to a “hold” rating in a research note on Monday, July 18th. Imperial Capital restated an “outperform” rating and issued a $40.00 price target on shares of Flir Systems in a research note on Friday, September 9th. Finally, Drexel Hamilton restated a “buy” rating on shares of Flir Systems in a research note on Tuesday, May 24th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $36.50.
In related news, VP Jeffrey Frank sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, September 9th. The shares were sold at an average price of $30.73, for a total value of $307,300.00. Following the sale, the vice president now directly owns 21,769 shares in the company, valued at approximately $668,961.37. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.00% of the stock is currently owned by corporate 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 operating segments include: Surveillance, Instruments, OEM and Emerging Markets, Maritime, Security and Detection.
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