Canada Pension Plan Investment Board raised its holdings in FLIR Systems, Inc. (NASDAQ:FLIR) by 69.7% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 125,600 shares of the scientific and technical instruments company’s stock after purchasing an additional 51,600 shares during the quarter. Canada Pension Plan Investment Board owned about 0.09% of FLIR Systems worth $7,721,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Principal Financial Group Inc. increased its holdings in FLIR Systems by 1.0% in the first quarter. Principal Financial Group Inc. now owns 222,120 shares of the scientific and technical instruments company’s stock worth $11,108,000 after purchasing an additional 2,199 shares in the last quarter. Commonwealth Equity Services LLC bought a new stake in FLIR Systems in the second quarter worth approximately $455,000. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in FLIR Systems by 22.7% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 449,127 shares of the scientific and technical instruments company’s stock worth $23,341,000 after purchasing an additional 83,107 shares in the last quarter. Wells Fargo & Company MN increased its holdings in FLIR Systems by 47.4% in the second quarter. Wells Fargo & Company MN now owns 1,100,685 shares of the scientific and technical instruments company’s stock worth $57,202,000 after purchasing an additional 354,091 shares in the last quarter. Finally, Barings LLC bought a new stake in FLIR Systems in the second quarter worth approximately $503,000. Institutional investors own 90.86% of the company’s stock.
A number of equities research analysts have weighed in on FLIR shares. Needham & Company LLC lowered their target price on FLIR Systems from $62.00 to $60.00 and set a “buy” rating for the company in a report on Thursday, November 1st. BidaskClub upgraded FLIR Systems from a “hold” rating to a “buy” rating in a report on Saturday, September 1st. ValuEngine downgraded FLIR Systems from a “buy” rating to a “hold” rating in a report on Wednesday, October 31st. Zacks Investment Research downgraded FLIR Systems from a “buy” rating to a “hold” rating in a report on Monday, October 22nd. Finally, Imperial Capital lowered their target price on FLIR Systems from $60.00 to $51.00 and set an “in-line” rating for the company in a report on Thursday, November 1st. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the stock. FLIR Systems currently has a consensus rating of “Hold” and a consensus target price of $58.17.
In other news, SVP Todd M. Duchene sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, October 15th. The stock was sold at an average price of $55.63, for a total transaction of $55,630.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 2.00% of the company’s stock.
NASDAQ FLIR opened at $43.33 on Friday. The company has a market cap of $6.19 billion, a PE ratio of 20.52 and a beta of 1.09. FLIR Systems, Inc. has a 52 week low of $43.22 and a 52 week high of $63.88. The company has a quick ratio of 3.04, a current ratio of 4.21 and a debt-to-equity ratio of 0.22.
FLIR Systems (NASDAQ:FLIR) last released its quarterly earnings data on Tuesday, October 30th. The scientific and technical instruments company reported $0.57 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.57. The firm had revenue of $434.89 million during the quarter, compared to the consensus estimate of $445.46 million. FLIR Systems had a return on equity of 16.74% and a net margin of 7.33%. The company’s quarterly revenue was down 6.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.52 earnings per share. On average, equities analysts anticipate that FLIR Systems, Inc. will post 2.21 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, December 7th. Stockholders of record on Friday, November 23rd were issued a dividend of $0.16 per share. The ex-dividend date was Wednesday, November 21st. This represents a $0.64 annualized dividend and a dividend yield of 1.48%. FLIR Systems’s dividend payout ratio is 34.04%.
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FLIR Systems 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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