FLIR Systems, Inc. (FLIR) Position Decreased by World Asset Management Inc
World Asset Management Inc cut its stake in shares of FLIR Systems, Inc. (NASDAQ:FLIR) by 8.3% during the second quarter, Holdings Channel reports. The firm owned 12,975 shares of the scientific and technical instruments company’s stock after selling 1,181 shares during the period. World Asset Management Inc’s holdings in FLIR Systems were worth $450,000 at the end of the most recent quarter.
Other institutional investors have also made changes to their positions in the company. Cribstone Capital Management LLC acquired a new position in shares of FLIR Systems during the first quarter valued at approximately $106,000. TrimTabs Asset Management LLC acquired a new position in shares of FLIR Systems during the first quarter valued at approximately $112,000. Mn Services Vermogensbeheer B.V. raised its position in shares of FLIR Systems by 4.7% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 3,638 shares of the scientific and technical instruments company’s stock valued at $123,000 after buying an additional 163 shares during the period. FTB Advisors Inc. acquired a new position in shares of FLIR Systems during the first quarter valued at approximately $130,000. Finally, Daiwa Securities Group Inc. raised its position in shares of FLIR Systems by 21.9% in the first quarter. Daiwa Securities Group Inc. now owns 3,900 shares of the scientific and technical instruments company’s stock valued at $141,000 after buying an additional 700 shares during the period. 90.55% of the stock is currently owned by institutional investors and hedge funds.
FLIR Systems, Inc. (NASDAQ:FLIR) opened at 37.41 on Friday. The company’s 50-day moving average price is $36.77 and its 200 day moving average price is $36.51. FLIR Systems, Inc. has a 1-year low of $28.26 and a 1-year high of $38.95. The firm has a market cap of $5.13 billion, a price-to-earnings ratio of 24.12 and a beta of 0.59.
FLIR Systems (NASDAQ:FLIR) last issued its earnings results on Wednesday, July 26th. The scientific and technical instruments company reported $0.42 earnings per share for the quarter, beating the Zacks’ 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 firm had revenue of $434.12 million for the quarter, compared to analysts’ expectations of $437.32 million. During the same quarter last year, the firm earned $0.37 earnings per share. The firm’s revenue for the quarter was up 7.8% compared to the same quarter last year. On average, equities analysts expect that FLIR Systems, Inc. will post $1.85 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 8th. Investors of record on Friday, August 25th will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 1.60%. The ex-dividend date is Wednesday, August 23rd. FLIR Systems’s payout ratio is currently 38.46%.
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Several brokerages have recently commented on FLIR. BidaskClub raised FLIR Systems from a “strong sell” rating to a “sell” rating in a research note on Tuesday, July 11th. Raymond James Financial, Inc. raised FLIR Systems from a “market perform” rating to a “strong-buy” rating and set a $43.00 price target on the stock in a research note on Monday, July 10th. UBS AG raised FLIR Systems from a “market perform” rating to a “strong-buy” rating in a research note on Monday, July 10th. Zacks Investment Research lowered FLIR Systems from a “buy” rating to a “hold” rating in a research note on Friday, July 28th. Finally, Stephens began coverage on FLIR Systems in a research note on Friday, July 7th. They issued an “overweight” rating on the stock. One equities research 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 company currently has a consensus rating of “Buy” and an average target price of $38.13.
In related news, Director William Wright Crouch sold 38,800 shares of FLIR Systems stock in a transaction on Wednesday, June 14th. The stock was sold at an average price of $35.95, for a total value of $1,394,860.00. Following the transaction, the director now owns 36,006 shares in the company, valued at $1,294,415.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Jeffrey Frank sold 13,971 shares of FLIR Systems stock in a transaction on Thursday, May 18th. The shares were sold at an average price of $37.40, for a total value of $522,515.40. The disclosure for this sale can be found here. Insiders sold 64,358 shares of company stock worth $2,349,223 in the last quarter. 3.00% of the stock is owned by insiders.
About FLIR Systems
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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