Dimensional Fund Advisors LP Trims Position in FLIR Systems, Inc. (FLIR)
Dimensional Fund Advisors LP cut its position in shares of FLIR Systems, Inc. (NASDAQ:FLIR) by 17.4% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,130,570 shares of the scientific and technical instruments company’s stock after selling 238,122 shares during the quarter. Dimensional Fund Advisors LP owned 0.82% of FLIR Systems worth $58,756,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently modified their holdings of the stock. Three Peaks Capital Management LLC acquired a new position in shares of FLIR Systems in the first quarter worth $111,000. Ostrum Asset Management acquired a new position in shares of FLIR Systems in the first quarter worth $143,000. Cerebellum GP LLC acquired a new position in shares of FLIR Systems in the second quarter worth $172,000. Steward Partners Investment Advisory LLC raised its holdings in shares of FLIR Systems by 54.5% in the second quarter. Steward Partners Investment Advisory LLC now owns 3,586 shares of the scientific and technical instruments company’s stock worth $186,000 after acquiring an additional 1,265 shares during the last quarter. Finally, BB&T Securities LLC acquired a new position in shares of FLIR Systems in the first quarter worth $209,000. 90.59% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts have recently weighed in on the company. William Blair raised FLIR Systems from a “market perform” rating to an “outperform” rating in a report on Monday, August 20th. Imperial Capital reissued an “outperform” rating and issued a $60.00 price target (up from $53.00) on shares of FLIR Systems in a report on Wednesday, August 1st. Zacks Investment Research cut FLIR Systems from a “hold” rating to a “sell” rating in a report on Wednesday, July 4th. Needham & Company LLC boosted their price target on FLIR Systems from $60.00 to $62.00 and gave the stock a “buy” rating in a report on Thursday, July 26th. Finally, Stephens boosted their price target on FLIR Systems from $61.00 to $69.00 and gave the stock an “overweight” rating in a report on Monday, July 30th. Four analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $56.75.
FLIR Systems (NASDAQ:FLIR) last announced its quarterly earnings data on Wednesday, July 25th. The scientific and technical instruments company reported $0.55 EPS for the quarter, beating the Zacks’ consensus estimate of $0.49 by $0.06. The business had revenue of $452.70 million during the quarter, compared to the consensus estimate of $429.12 million. FLIR Systems had a return on equity of 16.44% and a net margin of 6.70%. The business’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.42 earnings per share. research analysts anticipate that FLIR Systems, Inc. will post 2.22 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 7th. Stockholders of record on Friday, August 24th were given a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.05%. The ex-dividend date was Thursday, August 23rd. FLIR Systems’s dividend payout ratio is currently 34.04%.
In other news, SVP Todd M. Duchene sold 1,000 shares of FLIR Systems stock in a transaction on Wednesday, August 15th. The stock was sold at an average price of $60.01, for a total value of $60,010.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Jeffrey Frank sold 42,912 shares of FLIR Systems stock in a transaction on Friday, September 7th. The shares were 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 ninety days, insiders sold 133,264 shares of company stock valued at $8,081,353. Company insiders own 2.00% of the company’s stock.
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.
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