Findlay Park Partners LLP Continues to Hold Holdings in FLIR Systems, Inc. (FLIR)
Findlay Park Partners LLP continued to hold its position in FLIR Systems, Inc. (NASDAQ:FLIR) during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,565,000 shares of the scientific and technical instruments company’s stock at the close of the second quarter. Findlay Park Partners LLP owned about 1.14% of FLIR Systems worth $54,243,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in FLIR. Commonwealth Bank of Australia boosted its position in shares of FLIR Systems by 14.0% in the second quarter. Commonwealth Bank of Australia now owns 3,250 shares of the scientific and technical instruments company’s stock valued at $111,000 after acquiring an additional 400 shares during the period. Daiwa Securities Group Inc. boosted 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 acquiring an additional 700 shares during the period. Quantbot Technologies LP bought a new position in shares of FLIR Systems in the first quarter valued at approximately $165,000. OppenheimerFunds Inc. bought a new position in shares of FLIR Systems in the first quarter valued at approximately $203,000. Finally, TrimTabs Asset Management LLC boosted its position in shares of FLIR Systems by 104.9% in the second quarter. TrimTabs Asset Management LLC now owns 6,340 shares of the scientific and technical instruments company’s stock valued at $220,000 after acquiring an additional 3,246 shares during the period. Institutional investors own 90.73% of the company’s stock.
Shares of FLIR Systems, Inc. (NASDAQ:FLIR) traded up 0.08% during midday trading on Thursday, reaching $39.17. 97,342 shares of the company’s stock traded hands. The firm has a market capitalization of $5.37 billion, a PE ratio of 25.25 and a beta of 0.60. FLIR Systems, Inc. has a one year low of $28.26 and a one year high of $39.50. The stock’s 50-day moving average price is $37.82 and its 200 day moving average price is $36.84.
FLIR Systems (NASDAQ:FLIR) last released its earnings results on Wednesday, July 26th. The scientific and technical instruments company reported $0.42 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.41 by $0.01. The company had revenue of $434.12 million during the quarter, compared to analyst estimates of $437.32 million. FLIR Systems had a net margin of 12.44% and a return on equity of 13.97%. The firm’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.37 EPS. On average, equities research 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 was paid on Friday, September 8th. Investors of record on Friday, August 25th were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 1.53%. The ex-dividend date was Wednesday, August 23rd. FLIR Systems’s dividend payout ratio is 38.46%.
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A number of research firms have recently commented on FLIR. Needham & Company LLC raised their price objective on shares of FLIR Systems from $40.00 to $42.00 and gave the company a “buy” rating in a research report on Wednesday, September 6th. BidaskClub lowered shares of FLIR Systems from a “hold” rating to a “sell” rating in a research report on Monday, July 31st. Zacks Investment Research upgraded shares of FLIR Systems from a “hold” rating to a “buy” rating and set a $39.00 price objective for the company in a research report on Tuesday, June 27th. UBS AG upgraded shares of FLIR Systems from a “market perform” rating to a “strong-buy” rating in a research report on Monday, July 10th. Finally, Raymond James Financial, Inc. upgraded shares of FLIR Systems from a “market perform” rating to a “strong-buy” rating and set a $43.00 price objective for the company in a research report on Monday, July 10th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, four have given a buy rating and two have assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $38.38.
In related news, COO Thomas A. Surran sold 261,320 shares of the stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $38.25, for a total value of $9,995,490.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Earl R. Lewis sold 11,587 shares of the stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $37.27, for a total transaction of $431,847.49. The disclosure for this sale can be found here. Insiders sold a total of 292,907 shares of company stock valued at $11,191,737 over the last three months. 3.00% of the stock is currently 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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