Exxonmobil Investment Management Inc. TX reduced its stake in shares of FLIR Systems, Inc. (NASDAQ:FLIR) by 13.5% during the second quarter, according to its most recent filing with the SEC. The firm owned 26,199 shares of the scientific and technical instruments company’s stock after selling 4,078 shares during the period. Exxonmobil Investment Management Inc. TX’s holdings in FLIR Systems were worth $908,000 at the end of the most recent quarter.
A number of other large investors have also recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its stake in shares of FLIR Systems by 1,749.1% in the first quarter. BlackRock Inc. now owns 8,789,416 shares of the scientific and technical instruments company’s stock worth $318,878,000 after buying an additional 8,314,071 shares in the last quarter. Findlay Park Partners LLP boosted its stake in shares of FLIR Systems by 1,465.0% in the first quarter. Findlay Park Partners LLP now owns 1,565,000 shares of the scientific and technical instruments company’s stock worth $56,778,000 after buying an additional 1,465,000 shares in the last quarter. Alliancebernstein L.P. boosted its stake in shares of FLIR Systems by 216.3% in the first quarter. Alliancebernstein L.P. now owns 765,949 shares of the scientific and technical instruments company’s stock worth $27,789,000 after buying an additional 523,760 shares in the last quarter. Scout Investments Inc. boosted its stake in shares of FLIR Systems by 257.6% in the first quarter. Scout Investments Inc. now owns 692,204 shares of the scientific and technical instruments company’s stock worth $22,808,000 after buying an additional 498,635 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its stake in shares of FLIR Systems by 48.4% in the first quarter. Renaissance Technologies LLC now owns 1,365,560 shares of the scientific and technical instruments company’s stock worth $49,543,000 after buying an additional 445,500 shares in the last quarter. Hedge funds and other institutional investors own 87.44% of the company’s stock.
FLIR Systems, Inc. (NASDAQ FLIR) traded down 1.36% during trading on Thursday, reaching $37.80. The company’s stock had a trading volume of 1,050,700 shares. The company has a market cap of $5.19 billion, a PE ratio of 24.37 and a beta of 0.59. The stock has a 50-day moving average price of $37.02 and a 200 day moving average price of $36.58. FLIR Systems, Inc. has a 52-week low of $28.26 and a 52-week high of $38.94.
FLIR Systems (NASDAQ:FLIR) last released its quarterly earnings results on Wednesday, July 26th. The scientific and technical instruments company reported $0.42 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.01. The business had revenue of $434.12 million during the quarter, compared to analyst estimates of $437.32 million. FLIR Systems had a return on equity of 13.97% and a net margin of 12.44%. FLIR Systems’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.37 EPS. On average, analysts expect that FLIR Systems, Inc. will post $1.85 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 8th. Stockholders of record on Friday, August 25th will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 1.59%. The ex-dividend date is Wednesday, August 23rd. FLIR Systems’s dividend payout ratio is currently 38.46%.
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A number of equities research analysts have recently issued reports on FLIR shares. BidaskClub cut FLIR Systems from a “hold” rating to a “sell” rating in a research note on Tuesday, June 13th. Zacks Investment Research upgraded FLIR Systems from a “hold” rating to a “buy” rating and set a $39.00 price target on the stock in a research note on Tuesday, June 27th. Stephens started coverage on FLIR Systems in a research note on Friday, July 7th. They issued an “overweight” rating on the stock. UBS AG upgraded FLIR Systems from a “market perform” rating to a “strong-buy” rating in a research note on Monday, July 10th. Finally, Raymond James Financial, Inc. raised FLIR Systems from a “market perform” rating to a “strong-buy” rating and set a $43.00 price objective on the stock in a report on Monday, July 10th. One analyst has rated the stock with a sell rating, four have given a hold rating, four have assigned a buy rating and two have given a strong buy rating to the stock. The company has an average rating of “Buy” and an average target price of $38.13.
In related news, Director William Wright Crouch sold 38,800 shares of the company’s stock in a transaction that occurred on Wednesday, June 14th. The stock was sold at an average price of $35.95, for a total value of $1,394,860.00. Following the sale, the director now owns 36,006 shares in the company, valued at approximately $1,294,415.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Earl R. Lewis sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 16th. The stock was sold at an average price of $38.22, for a total value of $764,400.00. Following the completion of 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 sold a total of 70,387 shares of company stock valued at $2,591,107 in the last three months. Corporate insiders own 3.00% of the company’s stock.
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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