Riverhead Capital Management LLC Buys 15,223 Shares of FLIR Systems, Inc. (FLIR)
Riverhead Capital Management LLC grew its stake in FLIR Systems, Inc. (NASDAQ:FLIR) by 77.9% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 34,758 shares of the scientific and technical instruments company’s stock after acquiring an additional 15,223 shares during the quarter. Riverhead Capital Management LLC’s holdings in FLIR Systems were worth $1,205,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently modified their holdings of the company. Commonwealth Bank of Australia increased its stake 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 acquiring an additional 400 shares during the last quarter. Daiwa Securities Group Inc. increased its stake 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 acquiring an additional 700 shares during the last quarter. Quantbot Technologies LP acquired a new stake in shares of FLIR Systems in the 1st quarter worth $165,000. OppenheimerFunds Inc. acquired a new stake in shares of FLIR Systems in the 1st quarter worth $203,000. Finally, BlueCrest Capital Management Ltd acquired a new stake in shares of FLIR Systems in the 1st quarter worth $226,000. 90.73% of the stock is owned by institutional investors and hedge funds.
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In other FLIR Systems news, Director Earl R. Lewis sold 20,000 shares of the company’s stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $38.22, for a total transaction of $764,400.00. Following the completion of the sale, the director now directly owns 509,379 shares in the company, valued at $19,468,465.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Thomas A. Surran sold 261,320 shares of the company’s stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $38.25, for a total value of $9,995,490.00. The disclosure for this sale can be found here. Insiders have sold 292,907 shares of company stock valued at $11,191,737 over the last 90 days. 3.00% of the stock is currently owned by insiders.
Shares of FLIR Systems, Inc. (NASDAQ FLIR) opened at 39.84 on Friday. FLIR Systems, Inc. has a 12 month low of $28.26 and a 12 month high of $39.92. The firm has a market capitalization of $5.47 billion, a P/E ratio of 25.69 and a beta of 0.60. The company’s 50 day moving average price is $37.93 and its 200-day moving average price is $36.90.
FLIR Systems (NASDAQ:FLIR) last released its earnings results on Wednesday, July 26th. The scientific and technical instruments company reported $0.42 earnings per share for the quarter, topping the Thomson Reuters’ 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 firm had revenue of $434.12 million for the quarter, compared to the consensus estimate of $437.32 million. During the same period in the prior year, the business posted $0.37 earnings per share. The firm’s revenue for the quarter was up 7.8% compared to the same quarter last year. On average, equities analysts predict that FLIR Systems, Inc. will post $1.85 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 8th. Shareholders of record on Friday, August 25th were paid a dividend of $0.15 per share. The ex-dividend date was Wednesday, August 23rd. This represents a $0.60 annualized dividend and a yield of 1.51%. FLIR Systems’s dividend payout ratio is presently 38.46%.
A number of brokerages have issued reports on FLIR. BidaskClub raised FLIR Systems from a “strong sell” rating to a “sell” rating in a research note on Tuesday, July 11th. Raymond James Financial, Inc. raised FLIR Systems from a “market perform” rating to a “strong-buy” rating and set a $43.00 target price for the company in a research note on Monday, July 10th. UBS AG raised FLIR Systems from a “market perform” rating to a “strong-buy” rating in a research note on Monday, July 10th. Zacks Investment Research downgraded FLIR Systems from a “buy” rating to a “hold” rating in a research note on Friday, July 28th. Finally, Stephens began coverage on FLIR Systems in a research note on Friday, July 7th. They issued an “overweight” rating for the company. One analyst has rated the stock with a sell rating, four have issued a hold rating, four have assigned a buy rating and two have assigned a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $38.38.
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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