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

QCI Asset Management Inc. NY lowered its stake in shares of FLIR Systems, Inc. (NASDAQ:FLIR) by 1.3% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 358,429 shares of the scientific and technical instruments company’s stock after selling 4,539 shares during the quarter. FLIR Systems makes up approximately 2.1% of QCI Asset Management Inc. NY’s portfolio, making the stock its 7th largest holding. QCI Asset Management Inc. NY owned about 0.26% of FLIR Systems worth $22,033,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of FLIR. Morgan Stanley lifted its holdings in FLIR Systems by 217.7% during the second quarter. Morgan Stanley now owns 957,781 shares of the scientific and technical instruments company’s stock valued at $49,776,000 after purchasing an additional 656,278 shares during the last quarter. Argent Capital Management LLC lifted its holdings in FLIR Systems by 109.6% during the second quarter. Argent Capital Management LLC now owns 1,230,485 shares of the scientific and technical instruments company’s stock valued at $63,948,000 after purchasing an additional 643,290 shares during the last quarter. Janus Henderson Group PLC lifted its holdings in FLIR Systems by 846.8% during the second quarter. Janus Henderson Group PLC now owns 633,637 shares of the scientific and technical instruments company’s stock valued at $32,930,000 after purchasing an additional 566,711 shares during the last quarter. Artisan Partners Limited Partnership lifted its holdings in FLIR Systems by 23.1% during the second quarter. Artisan Partners Limited Partnership now owns 2,101,834 shares of the scientific and technical instruments company’s stock valued at $109,232,000 after purchasing an additional 394,412 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its holdings in FLIR Systems by 13.5% during the third quarter. Massachusetts Financial Services Co. MA now owns 3,090,528 shares of the scientific and technical instruments company’s stock valued at $189,975,000 after purchasing an additional 368,581 shares during the last quarter. Institutional investors own 90.72% of the company’s stock.

In other news, Director Earl R. Lewis sold 25,000 shares of the stock in a transaction dated Friday, August 17th. The shares were sold at an average price of $60.09, for a total value of $1,502,250.00. Following the sale, the director now directly owns 538,387 shares of the company’s stock, valued at $32,351,674.83. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Todd M. Duchene sold 1,000 shares of the stock in a transaction dated Wednesday, August 15th. The stock was sold at an average price of $60.01, for a total transaction of $60,010.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 90,912 shares of company stock worth $5,594,537. Insiders own 2.00% of the company’s stock.

Several equities research analysts have commented on FLIR shares. BidaskClub raised shares of FLIR Systems from a “hold” rating to a “buy” rating in a report on Saturday, September 1st. Needham & Company LLC upped their price objective on shares of FLIR Systems from $60.00 to $62.00 and gave the company a “buy” rating in a report on Thursday, July 26th. Seaport Global Securities reaffirmed a “buy” rating and set a $66.00 price objective on shares of FLIR Systems in a report on Thursday, July 26th. Zacks Investment Research raised shares of FLIR Systems from a “hold” rating to a “buy” rating and set a $60.00 price objective on the stock in a report on Monday, July 23rd. Finally, ValuEngine downgraded shares of FLIR Systems from a “buy” rating to a “hold” rating in a report on Wednesday, October 31st. One 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. FLIR Systems has a consensus rating of “Hold” and an average target price of $58.17.

Shares of FLIR Systems stock opened at $48.40 on Friday. FLIR Systems, Inc. has a 12-month low of $45.00 and a 12-month high of $63.88. The stock has a market capitalization of $6.77 billion, a PE ratio of 22.44 and a beta of 1.10. The company has a current ratio of 4.21, a quick ratio of 3.04 and a debt-to-equity ratio of 0.22.

FLIR Systems (NASDAQ:FLIR) last announced its quarterly earnings results on Tuesday, October 30th. The scientific and technical instruments company reported $0.57 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.57. FLIR Systems had a net margin of 7.33% and a return on equity of 16.74%. The firm had revenue of $434.89 million for the quarter, compared to the consensus estimate of $445.46 million. During the same period in the prior year, the firm posted $0.52 earnings per share. The company’s revenue for the quarter was down 6.4% on a year-over-year basis. On average, analysts anticipate that FLIR Systems, Inc. will post 2.21 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, December 7th. Stockholders of record on Friday, November 23rd will be issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.32%. The ex-dividend date is Wednesday, November 21st. FLIR Systems’s payout ratio is 34.04%.

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

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