Royal Bank of Canada lowered its holdings in FLIR Systems, Inc. (NASDAQ:FLIR) by 21.7% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 14,139 shares of the scientific and technical instruments company’s stock after selling 3,912 shares during the period. Royal Bank of Canada’s holdings in FLIR Systems were worth $491,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also modified their holdings of the business. OppenheimerFunds Inc. acquired a new stake in shares of FLIR Systems in the first quarter valued at approximately $203,000. Wellington Management Group LLP acquired a new stake in shares of FLIR Systems in the first quarter valued at approximately $248,000. Teachers Advisors LLC increased its stake in shares of FLIR Systems by 32.0% in the first quarter. Teachers Advisors LLC now owns 223,789 shares of the scientific and technical instruments company’s stock valued at $8,119,000 after purchasing an additional 54,209 shares during the period. PNC Financial Services Group Inc. increased its stake in shares of FLIR Systems by 9.9% in the first quarter. PNC Financial Services Group Inc. now owns 6,649 shares of the scientific and technical instruments company’s stock valued at $240,000 after purchasing an additional 599 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in shares of FLIR Systems by 6.6% in the first quarter. Dimensional Fund Advisors LP now owns 1,302,646 shares of the scientific and technical instruments company’s stock valued at $47,261,000 after purchasing an additional 80,490 shares during the period. 89.74% of the stock is currently owned by hedge funds and other institutional investors.
In related news, VP Brian E. Harding sold 1,836 shares of the firm’s stock in a transaction that occurred on Monday, October 30th. The shares were sold at an average price of $46.90, for a total transaction of $86,108.40. Following the transaction, the vice president now owns 6,646 shares in the company, valued at $311,697.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Steven E. Wynne sold 11,200 shares of the firm’s stock in a transaction that occurred on Friday, October 27th. The shares were sold at an average price of $47.34, for a total transaction of $530,208.00. The disclosure for this sale can be found here. Insiders have sold 303,356 shares of company stock worth $11,799,206 in the last quarter. Company insiders own 3.00% of the company’s stock.
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Several equities research analysts have commented on FLIR shares. BidaskClub upgraded shares of FLIR Systems from a “sell” rating to a “hold” rating in a research note on Monday, July 17th. Zacks Investment Research upgraded shares of FLIR Systems from a “hold” rating to a “buy” rating and set a $43.00 price target on the stock in a research note on Thursday, July 27th. Needham & Company LLC raised their price target on shares of FLIR Systems from $40.00 to $42.00 and gave the company a “buy” rating in a research note on Wednesday, September 6th. Robert W. Baird restated a “hold” rating and issued a $34.00 price target on shares of FLIR Systems in a research note on Tuesday, October 24th. Finally, Raymond James Financial, Inc. raised their price target on shares of FLIR Systems to $60.00 and gave the company a “strong-buy” rating in a research note on Wednesday, October 25th. One research analyst has rated the stock with a sell rating, three have given a hold rating, two have assigned a buy rating and three have given a strong buy rating to the stock. FLIR Systems has an average rating of “Buy” and an average target price of $46.33.
FLIR Systems, Inc. (NASDAQ:FLIR) opened at $47.11 on Tuesday. FLIR Systems, Inc. has a 12 month low of $33.75 and a 12 month high of $48.06. The company has a current ratio of 3.48, a quick ratio of 2.36 and a debt-to-equity ratio of 0.22. The company has a market cap of $6,475.57, a P/E ratio of 25.68 and a beta of 0.63.
FLIR Systems (NASDAQ:FLIR) last posted its quarterly earnings data on Wednesday, October 25th. The scientific and technical instruments company reported $0.52 EPS for the quarter, beating the Zacks’ consensus estimate of $0.48 by $0.04. FLIR Systems had a net margin of 12.30% and a return on equity of 14.30%. The business had revenue of $464.70 million for the quarter, compared to analyst estimates of $446.06 million. During the same quarter last year, the business earned $0.48 earnings per share. The business’s revenue for the quarter was up 14.7% on a year-over-year basis. research analysts expect that FLIR Systems, Inc. will post 1.86 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 8th. Investors of record on Friday, November 24th will be paid a dividend of $0.15 per share. The ex-dividend date is Wednesday, November 22nd. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.27%. FLIR Systems’s dividend payout ratio is presently 37.74%.
FLIR Systems 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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