Lazard Asset Management LLC lifted its stake in shares of FLIR Systems, Inc. (NASDAQ:FLIR) by 21.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 962,057 shares of the scientific and technical instruments company’s stock after purchasing an additional 171,470 shares during the quarter. Lazard Asset Management LLC owned about 0.70% of FLIR Systems worth $33,344,000 at the end of the most recent quarter.
Several other institutional investors also recently added to or reduced their stakes in FLIR. Commonwealth Bank of Australia raised its stake in shares of FLIR Systems by 14.0% during the second quarter. Commonwealth Bank of Australia now owns 3,250 shares of the scientific and technical instruments company’s stock worth $111,000 after purchasing an additional 400 shares during the last quarter. Acrospire Investment Management LLC purchased a new position in FLIR Systems in the second quarter worth $116,000. Daiwa Securities Group Inc. raised its position in 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 worth $141,000 after acquiring an additional 700 shares in the last quarter. Quantbot Technologies LP purchased a new position in FLIR Systems in the first quarter worth $165,000. Finally, OppenheimerFunds Inc. purchased a new position in FLIR Systems in the first quarter worth $203,000. Institutional investors and hedge funds own 90.73% of the company’s stock.
Several research analysts have issued reports on FLIR shares. Zacks Investment Research upgraded 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. Needham & Company LLC increased their price objective on FLIR Systems from $40.00 to $42.00 and gave the stock a “buy” rating in a research report on Wednesday, September 6th. BidaskClub upgraded FLIR Systems from a “sell” rating to a “hold” rating in a research report on Monday, July 17th. Stephens started coverage on FLIR Systems in a research report on Friday, July 7th. They issued an “overweight” rating for the company. Finally, Raymond James Financial, Inc. upgraded 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 analyst has rated the stock with a sell rating, four have given a hold rating, four have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $38.38.
In other news, COO Thomas A. Surran sold 261,320 shares of the business’s stock in a transaction on Friday, September 1st. The stock was sold at an average price of $38.25, for a total value of $9,995,490.00. The transaction was disclosed in a 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 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 directly 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 292,907 shares of company stock worth $11,191,737 in the last three months. Company insiders own 3.00% of the company’s stock.
FLIR Systems, Inc. (FLIR) traded down 0.33% on Wednesday, reaching $39.64. The company’s stock had a trading volume of 39,232 shares. The firm has a market capitalization of $5.44 billion, a P/E ratio of 25.56 and a beta of 0.60. FLIR Systems, Inc. has a 52-week low of $28.26 and a 52-week high of $40.76. The firm has a 50-day moving average price of $38.12 and a 200 day moving average price of $36.95.
FLIR Systems (NASDAQ:FLIR) last announced its quarterly earnings results on Wednesday, July 26th. The scientific and technical instruments company reported $0.42 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.41 by $0.01. FLIR Systems had a return on equity of 13.97% and a net margin of 12.44%. The company had revenue of $434.12 million during the quarter, compared to analyst estimates of $437.32 million. During the same quarter in the previous year, the firm posted $0.37 EPS. The firm’s quarterly revenue was up 7.8% on a year-over-year basis. Equities analysts anticipate that FLIR Systems, Inc. will post $1.85 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 8th. Stockholders of record on Friday, August 25th were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.51%. The ex-dividend date was Wednesday, August 23rd. FLIR Systems’s dividend payout ratio is presently 38.46%.
TRADEMARK VIOLATION NOTICE: “Lazard Asset Management LLC Has $33.34 Million Stake in FLIR Systems, Inc. (FLIR)” was originally posted by StockNewsTimes and is the sole property of of StockNewsTimes. If you are reading this piece on another publication, it was illegally copied and republished in violation of US and international copyright & trademark law. The original version of this piece can be accessed at https://stocknewstimes.com/2017/09/20/lazard-asset-management-llc-has-33-34-million-stake-in-flir-systems-inc-flir.html.
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.
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 Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FLIR Systems Inc. and related companies with MarketBeat.com's FREE daily email newsletter.