QCI Asset Management Inc. NY Trims Stake in FLIR Systems, Inc. (FLIR)

QCI Asset Management Inc. NY decreased its holdings in shares of FLIR Systems, Inc. (NASDAQ:FLIR) by 2.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 362,968 shares of the scientific and technical instruments company’s stock after selling 11,028 shares during the period. FLIR Systems makes up 1.9% of QCI Asset Management Inc. NY’s portfolio, making the stock its 12th biggest holding. QCI Asset Management Inc. NY owned 0.26% of FLIR Systems worth $18,863,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Envestnet Asset Management Inc. boosted its holdings in shares of FLIR Systems by 10.2% in the fourth quarter. Envestnet Asset Management Inc. now owns 17,631 shares of the scientific and technical instruments company’s stock worth $822,000 after buying an additional 1,625 shares during the period. Dupont Capital Management Corp boosted its holdings in shares of FLIR Systems by 37.9% in the first quarter. Dupont Capital Management Corp now owns 27,825 shares of the scientific and technical instruments company’s stock worth $1,392,000 after buying an additional 7,648 shares during the period. Commerzbank Aktiengesellschaft FI boosted its holdings in shares of FLIR Systems by 14.6% in the first quarter. Commerzbank Aktiengesellschaft FI now owns 30,759 shares of the scientific and technical instruments company’s stock worth $1,538,000 after buying an additional 3,919 shares during the period. Pettee Investors Inc. boosted its holdings in shares of FLIR Systems by 5.8% in the first quarter. Pettee Investors Inc. now owns 19,749 shares of the scientific and technical instruments company’s stock worth $988,000 after buying an additional 1,083 shares during the period. Finally, Westpac Banking Corp boosted its holdings in shares of FLIR Systems by 23.6% in the first quarter. Westpac Banking Corp now owns 8,759 shares of the scientific and technical instruments company’s stock worth $438,000 after buying an additional 1,670 shares during the period. Institutional investors own 92.51% of the company’s stock.

Several research analysts have commented on the stock. Imperial Capital reiterated an “outperform” rating and issued a $60.00 target price (up from $53.00) on shares of FLIR Systems in a report on Wednesday, August 1st. Zacks Investment Research lowered shares of FLIR Systems from a “hold” rating to a “sell” rating in a research report on Wednesday, July 4th. Needham & Company LLC increased their price target 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. Seaport Global Securities reissued a “buy” rating and issued a $66.00 price target on shares of FLIR Systems in a research report on Thursday, July 26th. Finally, William Blair began coverage on shares of FLIR Systems in a research report on Friday, May 18th. They issued a “hold” rating for the company. Five investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. FLIR Systems presently has an average rating of “Buy” and a consensus price target of $56.75.

FLIR Systems opened at $59.37 on Friday, according to Marketbeat Ratings. 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 company has a market capitalization of $8.23 billion, a PE ratio of 27.98 and a beta of 0.67. FLIR Systems, Inc. has a 52-week low of $37.18 and a 52-week high of $60.71.

FLIR Systems (NASDAQ:FLIR) last posted its quarterly earnings results on Wednesday, July 25th. The scientific and technical instruments company reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.49 by $0.06. The business had revenue of $452.70 million during the quarter, compared to analyst estimates of $429.12 million. FLIR Systems had a net margin of 6.70% and a return on equity of 16.44%. The firm’s revenue was up 4.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.42 earnings per share. sell-side analysts predict that FLIR Systems, Inc. will post 2.21 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 7th. Stockholders of record on Friday, August 24th will be given a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.08%. The ex-dividend date of this dividend is Thursday, August 23rd. FLIR Systems’s dividend payout ratio (DPR) is 34.04%.

In related news, Director Steven E. Wynne sold 13,600 shares of the firm’s stock in a transaction that occurred 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 transaction, the director now owns 37,610 shares of the company’s stock, valued at $2,056,514.80. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Todd M. Duchene sold 3,844 shares of the firm’s stock in a transaction that occurred on Thursday, July 19th. The shares were sold at an average price of $54.50, for a total transaction of $209,498.00. Following the transaction, the senior vice president now directly owns 37,453 shares in the company, valued at approximately $2,041,188.50. The disclosure for this sale can be found here. Insiders sold 74,078 shares of company stock valued at $4,220,710 over the last three months. 2.00% of the stock is owned by insiders.

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.

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

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