Legal & General Group Plc Acquires 232,738 Shares of FLIR Systems, Inc. (FLIR)

Legal & General Group Plc grew its holdings in FLIR Systems, Inc. (NASDAQ:FLIR) by 82.5% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 514,762 shares of the scientific and technical instruments company’s stock after acquiring an additional 232,738 shares during the period. Legal & General Group Plc owned 0.38% of FLIR Systems worth $25,744,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Oppenheimer Asset Management Inc. lifted its stake in shares of FLIR Systems by 1.8% in the first quarter. Oppenheimer Asset Management Inc. now owns 58,585 shares of the scientific and technical instruments company’s stock worth $2,930,000 after buying an additional 1,026 shares during the last quarter. Pettee Investors Inc. raised its stake in FLIR Systems by 5.8% during the 1st quarter. Pettee Investors Inc. now owns 19,749 shares of the scientific and technical instruments company’s stock valued at $988,000 after purchasing an additional 1,083 shares during the last quarter. Arizona State Retirement System raised its stake in FLIR Systems by 3.2% during the 4th quarter. Arizona State Retirement System now owns 35,111 shares of the scientific and technical instruments company’s stock valued at $1,637,000 after purchasing an additional 1,089 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. raised its stake in FLIR Systems by 23.9% during the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 5,901 shares of the scientific and technical instruments company’s stock valued at $275,000 after purchasing an additional 1,138 shares during the last quarter. Finally, Perigon Wealth Management LLC raised its stake in FLIR Systems by 2.7% during the 1st quarter. Perigon Wealth Management LLC now owns 45,649 shares of the scientific and technical instruments company’s stock valued at $2,283,000 after purchasing an additional 1,205 shares during the last quarter. 93.15% of the stock is owned by institutional investors.

In other news, Director Angus L. Macdonald sold 22,368 shares of the stock in a transaction on Friday, May 4th. The shares were sold at an average price of $54.09, for a total value of $1,209,885.12. Following the completion of the transaction, the director now owns 21,745 shares in the company, valued at approximately $1,176,187.05. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Steven E. Wynne sold 13,600 shares of the stock in a transaction on Friday, June 1st. The shares were sold at an average price of $54.68, for a total transaction of $743,648.00. Following the completion of the transaction, the director now owns 37,610 shares of the company’s stock, valued at approximately $2,056,514.80. The disclosure for this sale can be found here. In the last 90 days, insiders sold 65,626 shares of company stock valued at $3,566,256. Corporate insiders own 2.00% of the company’s stock.

FLIR has been the subject of several research analyst reports. Zacks Investment Research upgraded shares of FLIR Systems from a “hold” rating to a “buy” rating and set a $60.00 target price for the company in a research note on Tuesday, May 1st. BidaskClub cut shares of FLIR Systems from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, June 13th. William Blair initiated coverage on shares of FLIR Systems in a research note on Friday, May 18th. They set a “hold” rating for the company. Needham & Company LLC upped their target price on shares of FLIR Systems from $58.00 to $60.00 and gave the company a “buy” rating in a research note on Thursday, May 17th. Finally, Drexel Hamilton cut shares of FLIR Systems from a “buy” rating to a “hold” rating in a research note on Monday, May 7th. Four analysts have rated the stock with a hold rating, six have given a buy rating and two have given a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $52.86.

FLIR Systems opened at $51.97 on Monday, Marketbeat.com reports. The firm has a market cap of $7.13 billion, a P/E ratio of 27.64 and a beta of 0.69. FLIR Systems, Inc. has a one year low of $33.95 and a one year high of $55.72. 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 (NASDAQ:FLIR) last announced its quarterly earnings data on Wednesday, April 25th. The scientific and technical instruments company reported $0.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.06. FLIR Systems had a net margin of 5.66% and a return on equity of 15.43%. The company had revenue of $439.60 million during the quarter, compared to analysts’ expectations of $397.84 million. During the same quarter in the prior year, the company posted $0.36 EPS. The business’s revenue was up 8.1% on a year-over-year basis. analysts forecast that FLIR Systems, Inc. will post 2.16 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 8th. Stockholders of record on Friday, May 25th were paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date was Thursday, May 24th. FLIR Systems’s dividend payout ratio is 34.04%.

FLIR Systems Company Profile

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.

Institutional Ownership by Quarter for FLIR Systems (NASDAQ:FLIR)

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