UBS Asset Management Americas Inc. Reduces Stake in Flir Systems Inc. (FLIR)
UBS Asset Management Americas Inc. lowered its position in Flir Systems Inc. (NASDAQ:FLIR) by 8.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 419,937 shares of the company’s stock after selling 37,292 shares during the period. UBS Asset Management Americas Inc. owned 0.31% of Flir Systems worth $12,998,000 at the end of the most recent reporting period.
Other institutional investors have also made changes to their positions in the company. BlackRock Group LTD raised its position 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 period. BlackRock Inc. raised its position in Flir Systems by 1.2% in the first quarter. BlackRock Inc. now owns 775,480 shares of the company’s stock worth $25,553,000 after buying an additional 9,366 shares during the period. Prudential Financial Inc. raised its position in Flir Systems by 2.2% in the first quarter. Prudential Financial Inc. now owns 170,027 shares of the company’s stock worth $5,602,000 after buying an additional 3,670 shares during the period. Teachers Advisors Inc. raised its position in Flir Systems by 25.7% in the first quarter. Teachers Advisors Inc. now owns 162,223 shares of the company’s stock worth $5,345,000 after buying an additional 33,162 shares during the period. Finally, TIAA CREF Investment Management LLC raised its position in Flir Systems by 24.4% in the first quarter. TIAA CREF Investment Management LLC now owns 617,372 shares of the company’s stock worth $20,342,000 after buying an additional 121,054 shares during the period. Institutional investors and hedge funds own 90.74% of the company’s stock.
Shares of Flir Systems Inc. (NASDAQ:FLIR) traded down 0.16% during midday trading on Friday, hitting $31.46. 124,300 shares of the company’s stock traded hands. The stock has a market cap of $4.32 billion, a P/E ratio of 23.22 and a beta of 0.51. The company has a 50 day moving average of $31.06 and a 200 day moving average of $31.52. Flir Systems Inc. has a 52 week low of $25.12 and a 52 week high of $34.09.
Flir Systems (NASDAQ:FLIR) last posted its quarterly earnings results on Wednesday, July 27th. The company reported $0.34 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate 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 business’s revenue was up 2.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.36 earnings per share. On average, equities analysts forecast that Flir Systems Inc. will post $1.61 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 2nd. Investors of record on Friday, August 19th were given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 1.52%. The ex-dividend date of this dividend was Wednesday, August 17th. Flir Systems’s dividend payout ratio is currently 35.04%.
A number of research firms recently weighed in on FLIR. Zacks Investment Research upgraded shares of Flir Systems from a “sell” rating to a “hold” rating in a research report on Monday, August 1st. Imperial Capital reiterated an “outperform” rating and issued a $40.00 price objective on shares of Flir Systems in a research report on Friday, September 9th. Finally, Raymond James Financial Inc. lowered shares of Flir Systems from a “strong-buy” rating to an “outperform” rating and set a $36.00 price objective on the stock. in a research report on Monday, July 25th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $36.50.
In related news, VP Jeffrey Frank sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, September 9th. The stock was sold at an average price of $30.73, for a total transaction of $307,300.00. Following the sale, the vice president now directly owns 21,769 shares of the company’s stock, valued at approximately $668,961.37. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 3.00% of the company’s stock.
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 segments include Surveillance, Instruments, Security, OEM & Emerging Markets, Maritime and Detection.
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