Jefferies Group LLC reduced its stake in shares of FLIR Systems, Inc. (NASDAQ:FLIR) by 52.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 86,113 shares of the scientific and technical instruments company’s stock after selling 94,456 shares during the quarter. Jefferies Group LLC owned about 0.06% of FLIR Systems worth $5,293,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently modified their holdings of the company. Fort L.P. bought a new position in FLIR Systems during the 2nd quarter worth $117,000. OLD Mutual Customised Solutions Proprietary Ltd. bought a new position in FLIR Systems during the 2nd quarter worth $130,000. Zions Bancorporation acquired a new position in FLIR Systems during the 3rd quarter worth $130,000. Almanack Investment Partners LLC. acquired a new position in FLIR Systems during the 2nd quarter worth $185,000. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new position in FLIR Systems during the 3rd quarter worth $206,000. Hedge funds and other institutional investors own 90.86% of the company’s stock.
Shares of FLIR stock opened at $43.33 on Friday. 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, Inc. has a 1 year low of $43.22 and a 1 year high of $63.88. The firm has a market cap of $6.19 billion, a price-to-earnings ratio of 20.52 and a beta of 1.09.
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 the Zacks’ consensus estimate of $0.57. FLIR Systems had a return on equity of 16.74% and a net margin of 7.33%. The company had revenue of $434.89 million during the quarter, compared to analyst estimates of $445.46 million. During the same quarter in the previous year, the firm posted $0.52 EPS. The firm’s quarterly revenue was down 6.4% on a year-over-year basis. Equities analysts expect that FLIR Systems, Inc. will post 2.21 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, December 7th. Shareholders of record on Friday, November 23rd were given a dividend of $0.16 per share. The ex-dividend date of this dividend was Wednesday, November 21st. This represents a $0.64 dividend on an annualized basis and a yield of 1.48%. FLIR Systems’s dividend payout ratio (DPR) is presently 34.04%.
A number of research analysts have issued reports on the company. William Blair upgraded FLIR Systems from a “market perform” rating to an “outperform” rating in a research report on Monday, August 20th. BidaskClub lowered FLIR Systems from a “hold” rating to a “sell” rating in a research report on Thursday, October 11th. Zacks Investment Research reiterated a “sell” rating on shares of FLIR Systems in a research report on Tuesday, November 13th. Imperial Capital lowered FLIR Systems from an “outperform” rating to an “in-line” rating in a research report on Friday, October 19th. Finally, Needham & Company LLC reduced their price target on FLIR Systems from $62.00 to $60.00 and set a “buy” rating for the company in a research report on Thursday, November 1st. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company’s stock. FLIR Systems has an average rating of “Hold” and a consensus price target of $58.17.
In other news, SVP Todd M. Duchene sold 1,000 shares of the company’s stock in a transaction on Monday, September 17th. The stock was sold at an average price of $62.95, for a total value of $62,950.00. Following the completion of the sale, the senior vice president now owns 38,453 shares in the company, valued at $2,420,616.35. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 2.00% of the company’s stock.
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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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