BRYN MAWR TRUST Co Decreases Holdings in FLIR Systems, Inc. (FLIR)
BRYN MAWR TRUST Co cut its stake in FLIR Systems, Inc. (NASDAQ:FLIR) by 2.9% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,263 shares of the scientific and technical instruments company’s stock after selling 189 shares during the quarter. BRYN MAWR TRUST Co’s holdings in FLIR Systems were worth $218,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Commonwealth Bank of Australia grew its position in shares of FLIR Systems by 14.0% in the 2nd quarter. Commonwealth Bank of Australia now owns 3,250 shares of the scientific and technical instruments company’s stock worth $111,000 after buying an additional 400 shares during the period. Acrospire Investment Management LLC purchased a new stake in shares of FLIR Systems in the 2nd quarter worth about $116,000. Daiwa Securities Group Inc. grew its position in shares of FLIR Systems by 21.9% in the 1st quarter. Daiwa Securities Group Inc. now owns 3,900 shares of the scientific and technical instruments company’s stock worth $141,000 after buying an additional 700 shares during the period. Quantbot Technologies LP purchased a new stake in shares of FLIR Systems in the 1st quarter worth about $165,000. Finally, OppenheimerFunds Inc. purchased a new stake in shares of FLIR Systems in the 1st quarter worth about $203,000. Institutional investors and hedge funds own 90.73% of the company’s stock.
A number of analysts have recently weighed in on the stock. Zacks Investment Research raised shares of FLIR Systems from a “hold” rating to a “buy” rating and set a $43.00 target price on the stock in a research report on Thursday, July 27th. Needham & Company LLC upped their target price on shares of FLIR Systems from $40.00 to $42.00 and gave the stock a “buy” rating in a research report on Wednesday, September 6th. BidaskClub raised shares of FLIR Systems from a “sell” rating to a “hold” rating in a research report on Monday, July 17th. Raymond James Financial, Inc. raised shares of FLIR Systems from a “market perform” rating to a “strong-buy” rating and set a $43.00 target price on the stock in a research report on Monday, July 10th. Finally, UBS AG raised shares of FLIR Systems from a “market perform” rating to a “strong-buy” rating in a research report on Monday, July 10th. One analyst has rated the stock with a sell rating, four have given a hold rating, four have given a buy rating and two have given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $38.38.
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In other news, COO Thomas A. Surran sold 261,320 shares of the business’s stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $38.25, for a total transaction of $9,995,490.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Earl R. Lewis sold 20,000 shares of the business’s stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $38.22, for a total value of $764,400.00. Following the sale, the director now owns 509,379 shares in the company, valued at approximately $19,468,465.38. The disclosure for this sale can be found here. Insiders have sold 292,907 shares of company stock worth $11,191,737 in the last 90 days. Insiders own 3.00% of the company’s stock.
Shares of FLIR Systems, Inc. (NASDAQ:FLIR) opened at 39.51 on Friday. The stock has a market capitalization of $5.42 billion, a P/E ratio of 25.47 and a beta of 0.60. The company’s 50-day moving average is $38.12 and its 200 day moving average is $36.95. FLIR Systems, Inc. has a 12 month low of $28.26 and a 12 month high of $40.76.
FLIR Systems (NASDAQ:FLIR) last announced its earnings results on Wednesday, July 26th. The scientific and technical instruments company reported $0.42 EPS for the quarter, topping the Zacks’ consensus estimate of $0.41 by $0.01. The business had revenue of $434.12 million during the quarter, compared to the consensus estimate of $437.32 million. FLIR Systems had a net margin of 12.44% and a return on equity of 13.97%. The firm’s revenue was up 7.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.37 earnings per share. Equities research analysts predict that FLIR Systems, Inc. will post $1.85 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 8th. Stockholders of record on Friday, August 25th were paid a dividend of $0.15 per share. The ex-dividend date of this dividend was Wednesday, August 23rd. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.52%. FLIR Systems’s payout ratio is 38.46%.
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 threat-detection solutions. The Company’s segments include Surveillance, Instruments, Security, OEM & Emerging Markets, Maritime and Detection.
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