Glen Harbor Capital Management LLC reduced its holdings in shares of FLIR Systems (NASDAQ:FLIR) by 34.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 35,870 shares of the scientific and technical instruments company’s stock after selling 18,462 shares during the period. Glen Harbor Capital Management LLC’s holdings in FLIR Systems were worth $1,794,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of FLIR. Schwab Charles Investment Management Inc. grew its holdings in FLIR Systems by 3.3% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 670,223 shares of the scientific and technical instruments company’s stock worth $31,246,000 after acquiring an additional 21,291 shares during the period. State of Alaska Department of Revenue grew its holdings in FLIR Systems by 41.6% during the 4th quarter. State of Alaska Department of Revenue now owns 23,050 shares of the scientific and technical instruments company’s stock worth $1,074,000 after acquiring an additional 6,770 shares during the period. Cerebellum GP LLC acquired a new stake in FLIR Systems during the 4th quarter worth about $119,000. Jennison Associates LLC grew its holdings in FLIR Systems by 1.0% during the 4th quarter. Jennison Associates LLC now owns 918,702 shares of the scientific and technical instruments company’s stock worth $42,830,000 after acquiring an additional 8,911 shares during the period. Finally, Commerzbank Aktiengesellschaft FI acquired a new stake in FLIR Systems during the 4th quarter worth about $1,251,000. Hedge funds and other institutional investors own 92.96% of the company’s stock.
In other news, Director Angus L. Macdonald sold 12,532 shares of the firm’s stock in a transaction dated Monday, April 30th. The stock was sold at an average price of $54.11, for a total value of $678,106.52. Following the completion of the sale, the director now directly owns 33,209 shares in the company, valued at approximately $1,796,938.99. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Angus L. Macdonald sold 22,368 shares of the firm’s stock in a transaction dated 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 sale, the director now owns 21,745 shares of the company’s stock, valued at $1,176,187.05. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 38,426 shares of company stock valued at $2,078,960. 2.00% of the stock is currently owned by company insiders.
A number of brokerages have weighed in on FLIR. Drexel Hamilton downgraded FLIR Systems from a “buy” rating to a “hold” rating in a report on Monday, May 7th. Zacks Investment Research downgraded FLIR Systems from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Needham & Company LLC increased their price target on FLIR Systems from $50.00 to $56.00 and gave the stock a “buy” rating in a report on Thursday, February 15th. Imperial Capital increased their price target on FLIR Systems from $38.00 to $53.00 and gave the stock an “in-line” rating in a report on Thursday, March 22nd. Finally, BidaskClub upgraded FLIR Systems from a “buy” rating to a “strong-buy” rating in a report on Wednesday, April 4th. Four research analysts have rated the stock with a hold rating, five have assigned a buy rating and three have issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $52.86.
Shares of FLIR opened at $53.83 on Friday. The company has a debt-to-equity ratio of 0.24, a current ratio of 3.91 and a quick ratio of 2.72. The stock has a market capitalization of $7.50 billion, a PE ratio of 27.33 and a beta of 0.69. FLIR Systems has a one year low of $33.95 and a one year high of $55.67.
FLIR Systems (NASDAQ:FLIR) last issued its earnings results on Wednesday, April 25th. The scientific and technical instruments company reported $0.48 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.42 by $0.06. The company had revenue of $439.60 million during the quarter, compared to the consensus estimate of $397.84 million. FLIR Systems had a return on equity of 15.43% and a net margin of 5.66%. The firm’s revenue for the quarter was up 8.1% compared to the same quarter last year. During the same period last year, the business posted $0.36 EPS. sell-side analysts forecast that FLIR Systems will post 2.16 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, June 8th. Stockholders of record on Friday, May 25th will be paid a $0.16 dividend. The ex-dividend date is Thursday, May 24th. This represents a $0.64 annualized dividend and a dividend yield of 1.19%. FLIR Systems’s dividend payout ratio is presently 34.04%.
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.
Receive News & Ratings for FLIR Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FLIR Systems and related companies with MarketBeat.com's FREE daily email newsletter.