Bank of New York Mellon Corp trimmed its position in FLIR Systems, Inc. (NASDAQ:FLIR) by 3.0% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,266,947 shares of the scientific and technical instruments company’s stock after selling 70,082 shares during the period. Bank of New York Mellon Corp owned 1.64% of FLIR Systems worth $117,814,000 at the end of the most recent reporting period.
A number of other large investors have also recently bought and sold shares of FLIR. Fort L.P. acquired a new position in FLIR Systems in the second quarter valued at approximately $117,000. OLD Mutual Customised Solutions Proprietary Ltd. acquired a new position in FLIR Systems in the second quarter valued at approximately $130,000. Almanack Investment Partners LLC. acquired a new position in FLIR Systems in the second quarter valued at approximately $185,000. Steward Partners Investment Advisory LLC boosted its stake in FLIR Systems by 54.5% in the second quarter. Steward Partners Investment Advisory LLC now owns 3,586 shares of the scientific and technical instruments company’s stock valued at $186,000 after acquiring an additional 1,265 shares during the period. Finally, Suntrust Banks Inc. acquired a new position in FLIR Systems in the first quarter valued at approximately $225,000. Institutional investors and hedge funds own 90.72% of the company’s stock.
Shares of NASDAQ FLIR opened at $48.45 on Wednesday. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.21 and a quick ratio of 3.04. The company has a market cap of $6.55 billion, a PE ratio of 25.77 and a beta of 1.10. FLIR Systems, Inc. has a 12-month low of $45.00 and a 12-month high of $63.88.
FLIR Systems (NASDAQ:FLIR) last issued its quarterly earnings data on Tuesday, October 30th. The scientific and technical instruments company reported $0.57 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.57. The business had revenue of $434.89 million during the quarter, compared to the consensus estimate of $445.46 million. FLIR Systems had a return on equity of 16.74% and a net margin of 7.33%. The business’s revenue was down 6.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.52 earnings per share. On average, analysts predict that FLIR Systems, Inc. will post 2.21 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 7th. Stockholders of record on Friday, November 23rd will be given a dividend of $0.16 per share. The ex-dividend date is Wednesday, November 21st. This represents a $0.64 annualized dividend and a dividend yield of 1.32%. FLIR Systems’s dividend payout ratio is presently 34.04%.
FLIR has been the subject of a number of research reports. William Blair upgraded FLIR Systems from a “market perform” rating to an “outperform” rating in a research note on Monday, August 20th. BidaskClub downgraded FLIR Systems from a “buy” rating to a “hold” rating in a research note on Thursday, September 20th. Imperial Capital restated an “outperform” rating and issued a $60.00 target price (up from $53.00) on shares of FLIR Systems in a research note on Wednesday, August 1st. Zacks Investment Research downgraded FLIR Systems from a “buy” rating to a “hold” rating in a research note on Tuesday, July 24th. Finally, Needham & Company LLC lifted their target price on FLIR Systems from $60.00 to $62.00 and gave the company a “buy” rating in a research note on Thursday, July 26th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $58.17.
In other news, Director Earl R. Lewis sold 25,000 shares of the business’s stock in a transaction that occurred on Friday, August 17th. The stock was sold at an average price of $60.09, for a total transaction of $1,502,250.00. Following the completion of the transaction, the director now directly owns 538,387 shares in the company, valued at $32,351,674.83. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Earl R. Lewis sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, August 30th. The stock was sold at an average price of $62.25, for a total value of $1,245,000.00. Following the transaction, the director now owns 503,387 shares of the company’s stock, valued at $31,335,840.75. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 90,912 shares of company stock valued at $5,594,537. Insiders own 2.00% of the company’s stock.
FLIR Systems Company Profile
FLIR Systems, Inc designs, develops, manufactures, and markets thermal imaging systems, visible-light imaging systems, locater systems, measurement and diagnostic systems, and threat-detection solutions worldwide. The company operates in six segments: Surveillance, Instruments, Security, OEM & Emerging Markets, Maritime, and Detection.
Further Reading: What is a conference call?
Want to see what other hedge funds are holding FLIR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for FLIR Systems, Inc. (NASDAQ:FLIR).
Receive News & Ratings for FLIR Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FLIR Systems and related companies with MarketBeat.com's FREE daily email newsletter.