Executive Wealth Management LLC lowered its stake in shares of FLIR Systems, Inc. (NASDAQ:FLIR) by 6.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 28,203 shares of the scientific and technical instruments company’s stock after selling 1,948 shares during the period. Executive Wealth Management LLC’s holdings in FLIR Systems were worth $1,483,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently bought and sold shares of FLIR. Bank of New York Mellon Corp boosted its stake in shares of FLIR Systems by 45.5% during the second quarter. Bank of New York Mellon Corp now owns 3,311,826 shares of the scientific and technical instruments company’s stock valued at $179,171,000 after acquiring an additional 1,036,120 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in FLIR Systems by 336.1% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,331,599 shares of the scientific and technical instruments company’s stock worth $71,108,000 after buying an additional 1,026,228 shares during the last quarter. Nuveen Asset Management LLC acquired a new stake in FLIR Systems in the 2nd quarter worth about $36,628,000. Los Angeles Capital Management & Equity Research Inc. boosted its stake in FLIR Systems by 1,643.3% in the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 426,489 shares of the scientific and technical instruments company’s stock worth $23,073,000 after buying an additional 402,024 shares during the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC boosted its stake in FLIR Systems by 29.2% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,410,114 shares of the scientific and technical instruments company’s stock worth $76,287,000 after buying an additional 318,801 shares during the last quarter. 94.45% of the stock is currently owned by institutional investors and hedge funds.
A number of brokerages have issued reports on FLIR. Zacks Investment Research lowered FLIR Systems from a “hold” rating to a “sell” rating and set a $57.00 price target on the stock. in a research note on Monday, November 18th. BidaskClub lowered FLIR Systems from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, October 1st. Berenberg Bank began coverage on FLIR Systems in a research note on Friday, September 6th. They issued a “buy” rating and a $60.00 price target on the stock. William Blair reissued an “outperform” rating on shares of FLIR Systems in a research note on Friday, November 15th. Finally, SunTrust Banks set a $58.00 price target on FLIR Systems and gave the stock a “buy” rating in a research note on Friday, November 1st. One research analyst has rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $59.40.
Shares of FLIR Systems stock traded up $0.32 during trading hours on Wednesday, reaching $54.02. The stock had a trading volume of 10,125 shares, compared to its average volume of 657,930. The firm has a 50 day simple moving average of $53.31 and a two-hundred day simple moving average of $51.60. The firm has a market capitalization of $7.20 billion, a price-to-earnings ratio of 24.33 and a beta of 1.14. The company has a current ratio of 2.38, a quick ratio of 1.53 and a debt-to-equity ratio of 0.34. FLIR Systems, Inc. has a 1 year low of $40.52 and a 1 year high of $55.54.
FLIR Systems (NASDAQ:FLIR) last announced its earnings results on Thursday, October 31st. The scientific and technical instruments company reported $0.59 EPS for the quarter, beating the consensus estimate of $0.58 by $0.01. The business had revenue of $471.25 million for the quarter, compared to the consensus estimate of $486.51 million. FLIR Systems had a return on equity of 16.71% and a net margin of 14.54%. The company’s revenue was up 8.4% on a year-over-year basis. During the same period last year, the business posted $0.57 EPS. Sell-side analysts forecast that FLIR Systems, Inc. will post 2.3 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Tuesday, November 26th will be issued a dividend of $0.17 per share. The ex-dividend date is Monday, November 25th. This represents a $0.68 annualized dividend and a dividend yield of 1.26%. FLIR Systems’s payout ratio is currently 30.63%.
In related news, VP Brian E. Harding sold 3,625 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $52.48, for a total transaction of $190,240.00. Following the sale, the vice president now directly owns 8,876 shares in the company, valued at approximately $465,812.48. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Anthony D. Buffum sold 2,785 shares of the firm’s stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $53.41, for a total value of $148,746.85. Following the sale, the senior vice president now owns 14,137 shares in the company, valued at $755,057.17. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 21,210 shares of company stock worth $1,129,631. Company insiders own 2.00% of the company’s stock.
FLIR Systems Company Profile
FLIR Systems, Inc designs, develops, markets, and distributes thermal imaging systems, visible-light imaging systems, locater systems, measurement and diagnostic systems, and threat-detection solutions worldwide. The company operates in three segments: Industrial Business Unit, Government and Defense Business Unit, and Commercial Business Unit.
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