FLIR Systems, Inc. (FLIR) Stake Lessened by First Quadrant L P CA
First Quadrant L P CA lessened its stake in FLIR Systems, Inc. (NASDAQ:FLIR) by 66.6% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 25,232 shares of the scientific and technical instruments company’s stock after selling 50,399 shares during the quarter. First Quadrant L P CA’s holdings in FLIR Systems were worth $982,000 as of its most recent filing with the SEC.
Several other institutional investors also recently modified their holdings of the company. Commonwealth Bank of Australia grew its position in shares of FLIR Systems by 14.0% during the 2nd quarter. Commonwealth Bank of Australia now owns 3,250 shares of the scientific and technical instruments company’s stock valued at $111,000 after buying an additional 400 shares during the last quarter. Acrospire Investment Management LLC bought a new stake in shares of FLIR Systems during the 2nd quarter valued at about $116,000. ETF Managers Group LLC bought a new stake in shares of FLIR Systems during the 2nd quarter valued at about $171,000. OppenheimerFunds Inc. bought a new stake in shares of FLIR Systems during the 1st quarter valued at about $203,000. Finally, Koch Industries Inc. bought a new stake in shares of FLIR Systems during the 2nd quarter valued at about $214,000. Institutional investors and hedge funds own 91.73% of the company’s stock.
FLIR has been the subject of a number of recent research reports. BidaskClub downgraded shares of FLIR Systems from a “hold” rating to a “sell” rating in a research report on Monday, July 31st. SunTrust Banks, Inc. boosted their price objective on shares of FLIR Systems from $37.00 to $43.00 and gave the company a “hold” rating in a research report on Thursday, October 26th. Robert W. Baird reaffirmed a “hold” rating and set a $34.00 price objective on shares of FLIR Systems in a research report on Tuesday, October 24th. Needham & Company LLC boosted their price objective on shares of FLIR Systems from $40.00 to $42.00 and gave the company a “buy” rating in a research report on Wednesday, September 6th. Finally, Zacks Investment Research raised shares of FLIR Systems from a “hold” rating to a “strong-buy” rating and set a $53.00 price objective for the company in a research report on Thursday, October 26th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, two have assigned a buy rating and three have given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $46.33.
In other FLIR Systems news, Director Steven E. Wynne sold 11,200 shares of the company’s stock in a transaction dated Friday, October 27th. The shares were sold at an average price of $47.34, for a total value of $530,208.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 transaction, the director now owns 509,379 shares of the company’s stock, valued at approximately $19,468,465.38. The disclosure for this sale can be found here. In the last 90 days, insiders sold 303,356 shares of company stock valued at $11,799,206. 3.00% of the stock is owned by insiders.
FLIR Systems, Inc. (FLIR) opened at $46.97 on Friday. The stock has a market capitalization of $6.47 billion, a P/E ratio of 25.67 and a beta of 0.63. The company has a current ratio of 3.48, a quick ratio of 2.36 and a debt-to-equity ratio of 0.22.
FLIR Systems (NASDAQ:FLIR) last posted its earnings results on Wednesday, October 25th. The scientific and technical instruments company reported $0.52 EPS for the quarter, topping the consensus estimate of $0.48 by $0.04. FLIR Systems had a net margin of 12.30% and a return on equity of 14.30%. The firm had revenue of $464.70 million during the quarter, compared to analysts’ expectations of $446.06 million. During the same quarter in the prior year, the firm earned $0.48 EPS. FLIR Systems’s quarterly revenue was up 14.7% on a year-over-year basis. sell-side analysts forecast that FLIR Systems, Inc. will post 1.86 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 8th. Shareholders of record on Friday, November 24th will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 1.28%. The ex-dividend date is Wednesday, November 22nd. FLIR Systems’s dividend payout ratio (DPR) is 37.74%.
FLIR Systems 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.
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