Ifrah Financial Services Inc. cut its holdings in FLIR Systems, Inc. (NASDAQ:FLIR) by 2.8% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 8,425 shares of the scientific and technical instruments company’s stock after selling 240 shares during the period. Ifrah Financial Services Inc.’s holdings in FLIR Systems were worth $443,000 as of its most recent filing with the SEC.
Several other hedge funds have also added to or reduced their stakes in FLIR. Harvest Fund Management Co. Ltd acquired a new position in shares of FLIR Systems in the second quarter valued at about $41,000. Quest Capital Management Inc. ADV acquired a new stake in FLIR Systems during the third quarter worth about $65,000. Point72 Asset Management L.P. acquired a new stake in FLIR Systems during the second quarter worth about $87,000. Delta Asset Management LLC TN grew its stake in FLIR Systems by 27.9% during the third quarter. Delta Asset Management LLC TN now owns 1,726 shares of the scientific and technical instruments company’s stock worth $91,000 after buying an additional 376 shares in the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. acquired a new stake in FLIR Systems during the second quarter worth about $108,000. Institutional investors and hedge funds own 91.37% of the company’s stock.
A number of equities research analysts have issued reports on the stock. BidaskClub downgraded shares of FLIR Systems from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, October 1st. Berenberg Bank assumed coverage on shares of FLIR Systems in a research note on Friday, September 6th. They set a “buy” rating and a $60.00 price objective on the stock. SunTrust Banks set a $58.00 price objective on shares of FLIR Systems and gave the stock a “buy” rating in a research note on Friday, November 1st. Finally, ValuEngine downgraded shares of FLIR Systems from a “buy” rating to a “hold” rating in a research note on Wednesday, July 24th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $60.00.
FLIR Systems (NASDAQ:FLIR) last posted its earnings results on Thursday, October 31st. The scientific and technical instruments company reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.01. The firm had revenue of $471.25 million during the quarter, compared to analysts’ expectations of $486.51 million. FLIR Systems had a net margin of 14.54% and a return on equity of 16.71%. The business’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.57 earnings per share. On average, sell-side analysts forecast that FLIR Systems, Inc. will post 2.3 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Tuesday, November 26th will be issued a $0.17 dividend. The ex-dividend date is Monday, November 25th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.28%. FLIR Systems’s dividend payout ratio (DPR) is currently 30.63%.
In other news, SVP Anthony D. Buffum sold 2,785 shares of the stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $53.41, for a total value of $148,746.85. Following the completion of the transaction, the senior vice president now owns 14,137 shares of the company’s stock, valued at $755,057.17. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Catherine Ann Halligan sold 4,500 shares of the stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $53.06, for a total transaction of $238,770.00. The disclosure for this sale can be found here. Insiders sold 11,210 shares of company stock valued at $592,121 in the last three months. Company insiders own 2.00% of the company’s stock.
About FLIR Systems
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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