Southport Management Lowered Its Position in Corning (GLW) by $1.10 Million; As Flir Sys (FLIR) Market Value Rose, Johnston Asset Management Has Trimmed Holding by $5.26 Million

August 10, 2018 - By Billy Entrekin

Corning Incorporated (NYSE:GLW) Logo

Johnston Asset Management Corp decreased its stake in Flir Sys Inc (FLIR) by 17.13% based on its latest 2018Q1 regulatory filing with the SEC. Johnston Asset Management Corp sold 105,280 shares as the company’s stock rose 8.44% while stock markets declined. The institutional investor held 509,189 shares of the capital goods company at the end of 2018Q1, valued at $25.47 million, down from 614,469 at the end of the previous reported quarter. Johnston Asset Management Corp who had been investing in Flir Sys Inc for a number of months, seems to be less bullish one the $8.23B market cap company. The stock increased 0.17% or $0.1 during the last trading session, reaching $59.6. About 509,656 shares traded. FLIR Systems, Inc. (NASDAQ:FLIR) has risen 45.80% since August 10, 2017 and is uptrending. It has outperformed by 33.23% the S&P500. Some Historical FLIR News: 25/04/2018 – FLIR Systems to pay $30 mln to settle U.S. allegations -State Dept; 25/04/2018 – FLIR SYSTEMS INC – BOARD APPROVED EXTENSION OF JIM CANNON’S EMPLOYMENT AGREEMENT THROUGH APRIL 2022; 25/04/2018 – U.S. STATE DEPT SAYS IT HAS REACHED $30 MLN SETTLEMENT WITH FLIR SYSTEMS TO RESOLVE ALLEGED VIOLATIONS OF ARMS EXPORT CONTROL ACT; 25/04/2018 – FLIR 1Q REV. $439.6M, EST. $397.8M; 25/04/2018 – FLIR SYSTEMS INC FLIR.O FY2018 SHR VIEW $2.09, REV VIEW $1.75 BLN — THOMSON REUTERS l/B/E/S; 25/04/2018 – FLIR SEES FY ADJ EPS $2.11 TO $2.16, EST. $2.10; 26/04/2018 – Flir Systems Settles U.S. Export-Controls Case; 25/04/2018 – FLIR SYSTEMS INC FLIR.O SEES FY 2018 REVENUE $1.76 BLN TO $1.79 BLN; 17/05/2018 – Flir at Non-Deal Roadshow Hosted By Seaport Today; 12/04/2018 – Lorex Technology Launches Exclusive 2k HD MPX 8 Camera Security System Give-a-Way

Southport Management Llc decreased its stake in Corning Inc (GLW) by 61.98% based on its latest 2018Q1 regulatory filing with the SEC. Southport Management Llc sold 40,750 shares as the company’s stock declined 9.29% with the market. The institutional investor held 25,000 shares of the telecommunications equipment company at the end of 2018Q1, valued at $697,000, down from 65,750 at the end of the previous reported quarter. Southport Management Llc who had been investing in Corning Inc for a number of months, seems to be less bullish one the $26.80B market cap company. The stock decreased 0.60% or $0.2 during the last trading session, reaching $33.09. About 3.30 million shares traded. Corning Incorporated (NYSE:GLW) has declined 8.49% since August 10, 2017 and is downtrending. It has underperformed by 21.06% the S&P500. Some Historical GLW News: 13/03/2018 – Corning to Showcase Industry Leadership at 2018 Optical Networking and Communication Conference; 27/04/2018 – Global Fiber Optical Coupler Market to 2022 – Dominated by Corning, Finisar, Fujikura, Furukawa Electric, and Sumitomo Electric – ResearchAndMarkets.com; 24/04/2018 – CORNING INC QTRLY CORE SHR $0.31; 27/05/2018 – Moody’s Assigns Baa1 Rating To Corning’s New Yen Denominated Unsecured Notes; 24/04/2018 – CORNING INC – COMPANY EXPECTS YEAR-OVER-YEAR SALES GROWTH FOR SPECIALTY MATERIALS IN 2018; 15/05/2018 – Corning Presenting at JPMorgan Conference Tomorrow; 10/04/2018 – Panduit Corp. vs Corning | FWD Entered | 04/09/2018; 25/04/2018 – Teradyne, Corning and SK Hynix all said demand for smartphone parts is falling on Tuesday; 24/04/2018 – Corning 1Q Loss/Shr 72c; 04/04/2018 – Corning to Construct High-Volume Manufacturing Facility for Valor Glass

More important recent Corning Incorporated (NYSE:GLW) news were published by: Fool.com which released: “Why Corning Will Soar Higher After Its Second Quarter Earnings” on August 03, 2018, also Fool.com published article titled: “Why Corning’s Glass Is Half Full”, Seekingalpha.com published: “Will Corning Become A Trade War Casualty?” on July 13, 2018. More interesting news about Corning Incorporated (NYSE:GLW) was released by: Seekingalpha.com and their article: “Corning: Fully Priced After Strong Q2 Results?” with publication date: July 26, 2018.

Since February 14, 2018, it had 1 insider purchase, and 3 insider sales for $6.55 million activity. Morse David L had sold 33,000 shares worth $950,615 on Monday, June 11. Another trade for 224,884 shares valued at $6.46M was made by WEEKS WENDELL P on Friday, June 8. On Monday, March 12 the insider Pambianchi Christine M sold $29,895.

Analysts await Corning Incorporated (NYSE:GLW) to report earnings on October, 23. They expect $0.47 EPS, up 9.30% or $0.04 from last year’s $0.43 per share. GLW’s profit will be $380.70 million for 17.60 P/E if the $0.47 EPS becomes a reality. After $0.38 actual EPS reported by Corning Incorporated for the previous quarter, Wall Street now forecasts 23.68% EPS growth.

Southport Management Llc, which manages about $28.81M US Long portfolio, upped its stake in Quanta Svcs Inc (NYSE:PWR) by 10,000 shares to 40,000 shares, valued at $1.37M in 2018Q1, according to the filing.

Among 20 analysts covering Corning Incorporated (NYSE:GLW), 6 have Buy rating, 1 Sell and 13 Hold. Therefore 30% are positive. Corning Incorporated had 52 analyst reports since July 30, 2015 according to SRatingsIntel. Goldman Sachs maintained the stock with “Buy” rating in Wednesday, November 2 report. The stock of Corning Incorporated (NYSE:GLW) earned “Buy” rating by Guggenheim on Monday, July 17. Drexel Hamilton maintained Corning Incorporated (NYSE:GLW) rating on Wednesday, July 26. Drexel Hamilton has “Sell” rating and $17.5000 target. Guggenheim initiated Corning Incorporated (NYSE:GLW) rating on Wednesday, January 4. Guggenheim has “Buy” rating and $28 target. Drexel Hamilton downgraded the stock to “Sell” rating in Friday, June 10 report. The firm earned “Hold” rating on Friday, September 8 by Stifel Nicolaus. The company was upgraded on Thursday, May 31 by Morgan Stanley. The stock of Corning Incorporated (NYSE:GLW) has “Buy” rating given on Tuesday, December 12 by Guggenheim. Jefferies maintained the shares of GLW in report on Thursday, August 31 with “Hold” rating. UBS maintained the shares of GLW in report on Wednesday, October 28 with “Neutral” rating.

Investors sentiment decreased to 0.63 in Q1 2018. Its down 0.21, from 0.84 in 2017Q4. It dived, as 90 investors sold GLW shares while 349 reduced holdings. 71 funds opened positions while 204 raised stakes. 565.69 million shares or 5.45% less from 598.30 million shares in 2017Q4 were reported. Sigma Planning Corporation, Michigan-based fund reported 15,542 shares. Moreover, Harvest Limited Com has 0.14% invested in Corning Incorporated (NYSE:GLW) for 10,000 shares. Cornerstone Advisors holds 0.05% or 2,453 shares in its portfolio. Qs Limited Liability Co holds 14,351 shares. California Pub Employees Retirement Sys holds 2.47 million shares. Da Davidson & Company owns 16,929 shares. Advsr Cap Mngmt Ltd Com reported 0.27% of its portfolio in Corning Incorporated (NYSE:GLW). Moors & Cabot Inc owns 61,544 shares. Van Cleef Asset Managementinc holds 89,881 shares. 500 were accumulated by Toth Financial Advisory Corp. Blb&B Advisors Lc owns 336,233 shares. Louisiana State Employees Retirement System stated it has 53,100 shares or 0.07% of all its holdings. Whitnell & holds 0.01% or 1,000 shares in its portfolio. 149,056 are owned by Union Bank Corp. Exxonmobil Invest Management Tx reported 133,044 shares.

Among 13 analysts covering FLIR Systems (NASDAQ:FLIR), 8 have Buy rating, 0 Sell and 5 Hold. Therefore 62% are positive. FLIR Systems had 31 analyst reports since October 29, 2015 according to SRatingsIntel. The firm earned “Buy” rating on Thursday, October 26 by Needham. Needham maintained FLIR Systems, Inc. (NASDAQ:FLIR) on Monday, March 12 with “Buy” rating. The rating was maintained by SunTrust on Thursday, October 5 with “Hold”. The stock of FLIR Systems, Inc. (NASDAQ:FLIR) has “Buy” rating given on Friday, October 7 by Seaport Global Securities. Needham maintained the shares of FLIR in report on Tuesday, September 5 with “Buy” rating. The company was initiated on Thursday, January 19 by SunTrust. The stock of FLIR Systems, Inc. (NASDAQ:FLIR) earned “Hold” rating by Drexel Hamilton on Monday, May 7. On Thursday, May 17 the stock rating was maintained by Needham with “Buy”. The company was maintained on Thursday, February 15 by Needham. The rating was upgraded by Raymond James on Tuesday, January 5 to “Strong Buy”.

Investors sentiment decreased to 0.98 in 2018 Q1. Its down 0.21, from 1.19 in 2017Q4. It turned negative, as 32 investors sold FLIR shares while 154 reduced holdings. 59 funds opened positions while 124 raised stakes. 120.88 million shares or 0.47% less from 121.46 million shares in 2017Q4 were reported. First Mercantile Tru holds 0.03% or 2,950 shares. Greenwood Cap Assoc Limited Com reported 0.09% stake. Kayne Anderson Rudnick Investment Mngmt Limited Liability Corporation has invested 0.02% in FLIR Systems, Inc. (NASDAQ:FLIR). Bluemountain Cap Mngmt Ltd Liability Com owns 149,919 shares. Zurcher Kantonalbank (Zurich Cantonalbank) invested in 0.06% or 141,104 shares. State Of Wisconsin Board has invested 0.02% in FLIR Systems, Inc. (NASDAQ:FLIR). Columbus Circle holds 0.73% or 718,000 shares in its portfolio. The Ohio-based Johnson Investment Counsel has invested 0.01% in FLIR Systems, Inc. (NASDAQ:FLIR). Regions Fincl Corp stated it has 1,276 shares. Amica Retiree Medical has invested 0.03% in FLIR Systems, Inc. (NASDAQ:FLIR). Maryland-based Chevy Chase Trust has invested 0.46% in FLIR Systems, Inc. (NASDAQ:FLIR). 321,622 are owned by First Quadrant Lp Ca. Pinebridge Investments Limited Partnership, New York-based fund reported 36,974 shares. Creative Planning holds 0% or 4,198 shares. Atlanta Capital Mgmt L L C reported 1.07% of its portfolio in FLIR Systems, Inc. (NASDAQ:FLIR).

Since April 30, 2018, it had 0 insider purchases, and 8 selling transactions for $10.12 million activity. On Monday, April 30 the insider Crouch William Wright sold $4.01M. FRANK JEFFREY had sold 3,526 shares worth $190,968 on Tuesday, May 22. The insider MACDONALD ANGUS L sold 12,532 shares worth $678,107. On Friday, July 27 LEWIS EARL R sold $2.33 million worth of FLIR Systems, Inc. (NASDAQ:FLIR) or 39,508 shares. On Friday, June 1 the insider WYNNE STEVEN E sold $743,648. CARTER JOHN D had sold 13,600 shares worth $743,648 on Monday, June 4.

Analysts await FLIR Systems, Inc. (NASDAQ:FLIR) to report earnings on October, 24. They expect $0.56 EPS, up 7.69% or $0.04 from last year’s $0.52 per share. FLIR’s profit will be $77.29M for 26.61 P/E if the $0.56 EPS becomes a reality. After $0.55 actual EPS reported by FLIR Systems, Inc. for the previous quarter, Wall Street now forecasts 1.82% EPS growth.

Johnston Asset Management Corp, which manages about $4.21B and $2.35 billion US Long portfolio, upped its stake in Qiagen Nv by 71,425 shares to 3.65M shares, valued at $117.98M in 2018Q1, according to the filing. It also increased its holding in Cognizant Technology Solutio (NASDAQ:CTSH) by 27,540 shares in the quarter, for a total of 639,947 shares, and has risen its stake in Broadcom Ltd.

More recent FLIR Systems, Inc. (NASDAQ:FLIR) news were published by: Marketwatch.com which released: “Nasdaq nails trendline support (again), bullish intraday reversal underway” on August 02, 2018. Also Nasdaq.com published the news titled: “Why FLIR Systems Inc. Jumped 11.8% Today” on July 25, 2018. Bizjournals.com‘s news article titled: “‘Organic sales growth’ fuels a solid quarter for Flir” with publication date: July 25, 2018 was also an interesting one.

FLIR Systems, Inc. (NASDAQ:FLIR) Institutional Positions Chart

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