Connable Office Inc. Lowers Stake in FLIR Systems, Inc. (NASDAQ:FLIR)
Connable Office Inc. decreased its stake in FLIR Systems, Inc. (NASDAQ:FLIR) by 8.4% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 7,408 shares of the scientific and technical instruments company’s stock after selling 677 shares during the period. Connable Office Inc.’s holdings in FLIR Systems were worth $257,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in FLIR. BlackRock Inc. boosted its stake in FLIR Systems by 1,749.1% in the first quarter. BlackRock Inc. now owns 8,789,416 shares of the scientific and technical instruments company’s stock valued at $318,878,000 after buying an additional 8,314,071 shares during the period. Findlay Park Partners LLP raised its position in FLIR Systems by 1,465.0% in the first quarter. Findlay Park Partners LLP now owns 1,565,000 shares of the scientific and technical instruments company’s stock worth $56,778,000 after buying an additional 1,465,000 shares in the last quarter. Alliancebernstein L.P. raised its position in FLIR Systems by 216.3% in the first quarter. Alliancebernstein L.P. now owns 765,949 shares of the scientific and technical instruments company’s stock worth $27,789,000 after buying an additional 523,760 shares in the last quarter. Scout Investments Inc. raised its position in FLIR Systems by 257.6% in the first quarter. Scout Investments Inc. now owns 692,204 shares of the scientific and technical instruments company’s stock worth $22,808,000 after buying an additional 498,635 shares in the last quarter. Finally, Renaissance Technologies LLC raised its position in FLIR Systems by 48.4% in the first quarter. Renaissance Technologies LLC now owns 1,365,560 shares of the scientific and technical instruments company’s stock worth $49,543,000 after buying an additional 445,500 shares in the last quarter. Institutional investors own 90.55% of the company’s stock.
Shares of FLIR Systems, Inc. (NASDAQ FLIR) opened at 37.41 on Friday. The firm has a 50-day moving average price of $36.77 and a 200 day moving average price of $36.51. FLIR Systems, Inc. has a 12-month low of $28.26 and a 12-month high of $38.95. The stock has a market cap of $5.13 billion, a PE ratio of 24.12 and a beta of 0.59.
FLIR Systems (NASDAQ:FLIR) last announced its quarterly earnings data on Wednesday, July 26th. The scientific and technical instruments company reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.01. FLIR Systems had a return on equity of 13.97% and a net margin of 12.44%. The company had revenue of $434.12 million for the quarter, compared to analysts’ expectations of $437.32 million. During the same quarter in the prior year, the firm earned $0.37 earnings per share. FLIR Systems’s revenue was up 7.8% compared to the same quarter last year. Equities research analysts expect that FLIR Systems, Inc. will post $1.85 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 8th. Shareholders of record on Friday, August 25th will be issued a dividend of $0.15 per share. The ex-dividend date is Wednesday, August 23rd. This represents a $0.60 dividend on an annualized basis and a yield of 1.60%. FLIR Systems’s dividend payout ratio is currently 38.46%.
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Several equities analysts have issued reports on FLIR shares. Zacks Investment Research lowered FLIR Systems from a “buy” rating to a “hold” rating in a research note on Tuesday, April 18th. BidaskClub downgraded FLIR Systems from a “hold” rating to a “sell” rating in a report on Tuesday, June 13th. Stephens initiated coverage on FLIR Systems in a report on Friday, July 7th. They set an “overweight” rating for the company. UBS AG upgraded FLIR Systems from a “market perform” rating to a “strong-buy” rating in a report on Monday, July 10th. Finally, Raymond James Financial, Inc. upgraded FLIR Systems from a “market perform” rating to a “strong-buy” rating and set a $43.00 price target for the company in a report on Monday, July 10th. One analyst has rated the stock with a sell rating, four have issued a hold rating, four have assigned a buy rating and two have assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $38.13.
In related news, VP Jeffrey Frank sold 13,971 shares of the firm’s stock in a transaction on Thursday, May 18th. The stock was sold at an average price of $37.40, for a total value of $522,515.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Earl R. Lewis sold 11,587 shares of the firm’s stock in a transaction on Monday, July 31st. The stock was 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 64,358 shares of company stock valued at $2,349,223. 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 threat-detection solutions. The Company’s segments include Surveillance, Instruments, Security, OEM & Emerging Markets, Maritime and Detection.
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