FLIR Systems (NASDAQ:FLIR) had its price target reduced by Needham & Company LLC from $62.00 to $60.00 in a research report released on Thursday, The Fly reports. Needham & Company LLC currently has a buy rating on the scientific and technical instruments company’s stock.
Several other equities research analysts have also issued reports on the company. Imperial Capital dropped their price target on FLIR Systems from $60.00 to $51.00 and set an in-line rating for the company in a research note on Thursday. They noted that the move was a valuation call. ValuEngine lowered FLIR Systems from a buy rating to a hold rating in a research note on Wednesday, October 31st. Zacks Investment Research lowered FLIR Systems from a buy rating to a hold rating in a research note on Monday, October 22nd. BidaskClub raised FLIR Systems from a sell rating to a hold rating in a research note on Thursday, October 18th. Finally, William Blair raised FLIR Systems from a market perform rating to an outperform rating in a research note on Monday, August 20th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus target price of $58.17.
NASDAQ:FLIR traded down $0.72 during trading hours on Thursday, hitting $46.64. 27,999 shares of the company’s stock traded hands, compared to its average volume of 1,095,586. The firm has a market capitalization of $6.55 billion, a price-to-earnings ratio of 24.79 and a beta of 1.10. FLIR Systems has a 52 week low of $45.00 and a 52 week high of $63.88. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.04 and a current ratio of 4.21.
FLIR Systems (NASDAQ:FLIR) last posted its quarterly earnings data on Tuesday, October 30th. The scientific and technical instruments company reported $0.57 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.57. The company had revenue of $434.89 million during the quarter, compared to analyst estimates of $445.46 million. FLIR Systems had a return on equity of 16.74% and a net margin of 7.33%. The firm’s quarterly revenue was down 6.4% on a year-over-year basis. During the same quarter last year, the company earned $0.52 earnings per share. Equities analysts forecast that FLIR Systems will post 2.21 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 7th. Shareholders of record on Friday, November 23rd will be paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 1.37%. FLIR Systems’s dividend payout ratio (DPR) is currently 34.04%.
In other news, SVP Todd M. Duchene sold 1,000 shares of FLIR Systems stock in a transaction dated Wednesday, August 15th. The stock was sold at an average price of $60.01, for a total value of $60,010.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Earl R. Lewis sold 25,000 shares of FLIR Systems stock in a transaction dated Friday, August 17th. The stock was sold at an average price of $60.09, for a total value of $1,502,250.00. Following the completion of the transaction, the director now owns 538,387 shares in the company, valued at approximately $32,351,674.83. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 90,912 shares of company stock valued at $5,594,537. Corporate insiders own 2.00% of the company’s stock.
A number of large investors have recently made changes to their positions in the stock. CENTRAL TRUST Co increased its holdings in FLIR Systems by 4.9% during the 3rd quarter. CENTRAL TRUST Co now owns 22,510 shares of the scientific and technical instruments company’s stock valued at $1,384,000 after purchasing an additional 1,055 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its holdings in FLIR Systems by 2.9% during the 2nd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 43,868 shares of the scientific and technical instruments company’s stock valued at $2,280,000 after purchasing an additional 1,236 shares during the period. Steward Partners Investment Advisory LLC increased its holdings in 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 purchasing an additional 1,265 shares during the period. LPL Financial LLC increased its holdings in FLIR Systems by 4.7% during the 1st quarter. LPL Financial LLC now owns 33,425 shares of the scientific and technical instruments company’s stock valued at $1,672,000 after purchasing an additional 1,497 shares during the period. Finally, IFM Investors Pty Ltd increased its holdings in FLIR Systems by 24.9% during the 3rd quarter. IFM Investors Pty Ltd now owns 7,904 shares of the scientific and technical instruments company’s stock valued at $486,000 after purchasing an additional 1,574 shares during the period. Institutional investors own 90.72% of the company’s stock.
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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