Endurance Wealth Management Inc. reduced its stake in FLIR Systems, Inc. (NASDAQ:FLIR) by 83.3% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 2,950 shares of the scientific and technical instruments company’s stock after selling 14,670 shares during the quarter. Endurance Wealth Management Inc.’s holdings in FLIR Systems were worth $141,000 at the end of the most recent reporting period.
Several other hedge funds also recently modified their holdings of FLIR. Bessemer Group Inc. increased its holdings in shares of FLIR Systems by 18.2% in the 4th quarter. Bessemer Group Inc. now owns 1,454 shares of the scientific and technical instruments company’s stock valued at $63,000 after purchasing an additional 224 shares in the last quarter. Metropolitan Life Insurance Co. NY increased its holdings in shares of FLIR Systems by 1.1% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 20,633 shares of the scientific and technical instruments company’s stock valued at $898,000 after purchasing an additional 224 shares during the period. Cardinal Capital Management increased its holdings in shares of FLIR Systems by 1.3% in the 1st quarter. Cardinal Capital Management now owns 17,117 shares of the scientific and technical instruments company’s stock valued at $814,000 after purchasing an additional 228 shares during the period. Pendal Group Ltd increased its holdings in shares of FLIR Systems by 3.7% in the 1st quarter. Pendal Group Ltd now owns 8,681 shares of the scientific and technical instruments company’s stock valued at $413,000 after purchasing an additional 311 shares during the period. Finally, First Hawaiian Bank increased its holdings in shares of FLIR Systems by 2.8% in the 1st quarter. First Hawaiian Bank now owns 11,877 shares of the scientific and technical instruments company’s stock valued at $566,000 after purchasing an additional 320 shares during the period. Hedge funds and other institutional investors own 91.74% of the company’s stock.
FLIR has been the topic of a number of research reports. BidaskClub upgraded FLIR Systems from a “sell” rating to a “hold” rating in a report on Tuesday, January 29th. Zacks Investment Research upgraded FLIR Systems from a “sell” rating to a “hold” rating in a report on Monday, February 4th. ValuEngine downgraded FLIR Systems from a “buy” rating to a “hold” rating in a report on Friday, March 1st. Imperial Capital reiterated an “in-line” rating and issued a $56.00 target price (up previously from $51.00) on shares of FLIR Systems in a report on Wednesday, February 20th. They noted that the move was a valuation call. Finally, Raymond James downgraded FLIR Systems from a “strong-buy” rating to an “outperform” rating in a report on Monday, March 18th. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $62.29.
Shares of NASDAQ FLIR opened at $52.56 on Tuesday. The company has a market capitalization of $7.15 billion, a P/E ratio of 23.68 and a beta of 1.13. FLIR Systems, Inc. has a 52 week low of $40.52 and a 52 week high of $63.88. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.45 and a quick ratio of 1.61.
FLIR Systems (NASDAQ:FLIR) last announced its quarterly earnings results on Wednesday, April 24th. The scientific and technical instruments company reported $0.53 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.48 by $0.05. The business had revenue of $444.70 million during the quarter, compared to analysts’ expectations of $440.98 million. FLIR Systems had a return on equity of 16.84% and a net margin of 17.13%. The firm’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.48 EPS. As a group, equities analysts forecast that FLIR Systems, Inc. will post 2.35 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Friday, May 24th will be paid a $0.17 dividend. The ex-dividend date is Thursday, May 23rd. This represents a $0.68 annualized dividend and a dividend yield of 1.29%. FLIR Systems’s payout ratio is 30.63%.
In other FLIR Systems news, Director Earl R. Lewis sold 132,100 shares of the company’s stock in a transaction that occurred on Tuesday, February 26th. The stock was sold at an average price of $52.11, for a total transaction of $6,883,731.00. Following the completion of the sale, the director now owns 635,487 shares of the company’s stock, valued at $33,115,227.57. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Jeffrey Frank sold 14,278 shares of the company’s stock in a transaction that occurred on Wednesday, February 27th. The stock was sold at an average price of $51.77, for a total value of $739,172.06. The disclosure for this sale can be found here. In the last three months, insiders sold 316,894 shares of company stock valued at $16,363,650. 2.00% of the stock is currently owned by company insiders.
FLIR Systems Company Profile
FLIR Systems, Inc designs, develops, markets, and distributes thermal imaging systems, visible-light imaging systems, locater systems, measurement and diagnostic systems, and threat-detection solutions worldwide. The company operates in three segments: Industrial Business Unit, Government and Defense Business Unit, and Commercial Business Unit.
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