Stifel Financial Corp lifted its holdings in shares of FLIR Systems, Inc. (NASDAQ:FLIR) by 2.9% in the 1st quarter, HoldingsChannel.com reports. The fund owned 69,836 shares of the scientific and technical instruments company’s stock after purchasing an additional 1,947 shares during the quarter. Stifel Financial Corp’s holdings in FLIR Systems were worth $3,496,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also modified their holdings of the company. Pinebridge Investments L.P. bought a new position in shares of FLIR Systems during the 4th quarter worth approximately $963,000. Retirement Systems of Alabama boosted its stake in shares of FLIR Systems by 29.2% during the 4th quarter. Retirement Systems of Alabama now owns 258,824 shares of the scientific and technical instruments company’s stock worth $12,066,000 after acquiring an additional 58,430 shares during the period. Lazard Asset Management LLC boosted its stake in FLIR Systems by 5.9% in the 4th quarter. Lazard Asset Management LLC now owns 936,206 shares of the scientific and technical instruments company’s stock valued at $43,645,000 after purchasing an additional 52,420 shares during the period. Swiss National Bank boosted its stake in FLIR Systems by 0.4% in the 4th quarter. Swiss National Bank now owns 503,529 shares of the scientific and technical instruments company’s stock valued at $23,475,000 after purchasing an additional 2,000 shares during the period. Finally, Teacher Retirement System of Texas bought a new stake in FLIR Systems in the 4th quarter valued at $1,751,000. Institutional investors own 93.14% of the company’s stock.
In other FLIR Systems news, VP Jeffrey Frank sold 3,526 shares of FLIR Systems stock in a transaction on Tuesday, May 22nd. The shares were sold at an average price of $54.16, for a total value of $190,968.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Angus L. Macdonald sold 22,368 shares of FLIR Systems stock in a transaction on Friday, May 4th. The shares were sold at an average price of $54.09, for a total transaction of $1,209,885.12. Following the completion of the transaction, the director now directly owns 21,745 shares of the company’s stock, valued at approximately $1,176,187.05. The disclosure for this sale can be found here. Insiders sold 65,626 shares of company stock valued at $3,566,256 in the last ninety days. 2.00% of the stock is owned by corporate insiders.
FLIR opened at $54.86 on Monday. The company has a quick ratio of 2.72, a current ratio of 3.91 and a debt-to-equity ratio of 0.24. FLIR Systems, Inc. has a 1 year low of $33.95 and a 1 year high of $55.72. The firm has a market capitalization of $7.53 billion, a P/E ratio of 29.18 and a beta of 0.69.
FLIR Systems (NASDAQ:FLIR) last issued its earnings results on Wednesday, April 25th. The scientific and technical instruments company reported $0.48 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.42 by $0.06. FLIR Systems had a net margin of 5.66% and a return on equity of 15.43%. The firm had revenue of $439.60 million during the quarter, compared to analysts’ expectations of $397.84 million. During the same quarter last year, the company posted $0.36 earnings per share. The firm’s revenue was up 8.1% compared to the same quarter last year. research analysts expect that FLIR Systems, Inc. will post 2.16 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, June 8th. Shareholders of record on Friday, May 25th were issued a $0.16 dividend. The ex-dividend date was Thursday, May 24th. This represents a $0.64 dividend on an annualized basis and a yield of 1.17%. FLIR Systems’s payout ratio is 34.04%.
Several research firms recently issued reports on FLIR. BidaskClub downgraded FLIR Systems from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, June 13th. Needham & Company LLC boosted their price target on FLIR Systems from $58.00 to $60.00 and gave the company a “buy” rating in a research note on Thursday, May 17th. Zacks Investment Research upgraded FLIR Systems from a “hold” rating to a “buy” rating and set a $61.00 price target for the company in a research note on Monday, May 21st. Drexel Hamilton downgraded FLIR Systems from a “buy” rating to a “hold” rating in a research note on Monday, May 7th. Finally, ValuEngine upgraded FLIR Systems from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. Four investment analysts have rated the stock with a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $52.86.
About FLIR Systems
FLIR Systems, Inc designs, develops, manufactures, and markets thermal imaging systems, visible-light imaging systems, locater systems, measurement and diagnostic systems, and threat-detection solutions worldwide. The company operates in six segments: Surveillance, Instruments, Security, OEM & Emerging Markets, Maritime, and Detection.
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