Schroder Investment Management Group grew its stake in FLIR Systems, Inc. (NASDAQ:FLIR) by 175.6% during the second quarter, HoldingsChannel reports. The firm owned 118,026 shares of the scientific and technical instruments company’s stock after purchasing an additional 75,200 shares during the period. Schroder Investment Management Group’s holdings in FLIR Systems were worth $6,132,000 as of its most recent SEC filing.
Several other institutional investors also recently modified their holdings of the company. Fort L.P. bought a new stake in shares of FLIR Systems during the 2nd quarter valued at about $117,000. OLD Mutual Customised Solutions Proprietary Ltd. bought a new stake in shares of FLIR Systems during the 2nd quarter valued at about $130,000. Cerebellum GP LLC bought a new stake in shares of FLIR Systems during the 2nd quarter valued at about $172,000. Almanack Investment Partners LLC. bought a new stake in shares of FLIR Systems during the 2nd quarter valued at about $185,000. Finally, Steward Partners Investment Advisory LLC grew its position in shares of FLIR Systems by 54.5% during the 2nd quarter. Steward Partners Investment Advisory LLC now owns 3,586 shares of the scientific and technical instruments company’s stock valued at $186,000 after buying an additional 1,265 shares during the last quarter. Institutional investors and hedge funds own 90.64% of the company’s stock.
FLIR has been the subject of a number of recent research reports. William Blair raised shares of FLIR Systems from a “market perform” rating to an “outperform” rating in a research report on Monday, August 20th. BidaskClub cut shares of FLIR Systems from a “buy” rating to a “hold” rating in a research report on Thursday, September 20th. Imperial Capital restated an “outperform” rating and issued a $60.00 target price (up previously from $53.00) on shares of FLIR Systems in a research report on Wednesday, August 1st. Zacks Investment Research cut shares of FLIR Systems from a “buy” rating to a “hold” rating in a research report on Tuesday, July 24th. Finally, Needham & Company LLC upped their target price on shares of FLIR Systems from $60.00 to $62.00 and gave the stock a “buy” rating in a research report on Thursday, July 26th. Four analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $56.75.
In other news, Director Earl R. Lewis sold 39,508 shares of the company’s stock in a transaction that occurred on Friday, July 27th. The shares were sold at an average price of $59.05, for a total value of $2,332,947.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Todd M. Duchene sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, September 17th. The stock was sold at an average price of $62.95, for a total transaction of $62,950.00. Following the completion of the sale, the senior vice president now directly owns 38,453 shares of the company’s stock, valued at $2,420,616.35. The disclosure for this sale can be found here. In the last 90 days, insiders sold 130,420 shares of company stock valued at $7,927,485. 2.00% of the stock is owned by insiders.
NASDAQ FLIR opened at $56.70 on Friday. FLIR Systems, Inc. has a 52 week low of $43.00 and a 52 week high of $63.88. The company has a quick ratio of 2.85, a current ratio of 4.07 and a debt-to-equity ratio of 0.23. The stock has a market capitalization of $7.92 billion, a price-to-earnings ratio of 26.94 and a beta of 0.68.
FLIR Systems (NASDAQ:FLIR) last posted its earnings results on Wednesday, July 25th. The scientific and technical instruments company reported $0.55 EPS for the quarter, topping the consensus estimate of $0.49 by $0.06. FLIR Systems had a net margin of 6.70% and a return on equity of 16.44%. The firm had revenue of $452.70 million during the quarter, compared to analysts’ expectations of $429.12 million. During the same quarter in the prior year, the firm earned $0.42 EPS. FLIR Systems’s quarterly revenue was up 4.3% on a year-over-year basis. As a group, equities analysts expect that FLIR Systems, Inc. will post 2.22 earnings per share for the current year.
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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