State of Alaska Department of Revenue reduced its stake in shares of FLIR Systems, Inc. (NASDAQ:FLIR) by 19.4% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 24,108 shares of the scientific and technical instruments company’s stock after selling 5,790 shares during the period. State of Alaska Department of Revenue’s holdings in FLIR Systems were worth $1,267,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Harvest Fund Management Co. Ltd purchased a new position in FLIR Systems in the 2nd quarter worth approximately $41,000. Point72 Asset Management L.P. purchased a new stake in shares of FLIR Systems during the 2nd quarter valued at approximately $87,000. Hilton Capital Management LLC purchased a new stake in shares of FLIR Systems during the 1st quarter valued at approximately $92,000. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of FLIR Systems during the 2nd quarter valued at approximately $108,000. Finally, Bessemer Group Inc. raised its position in shares of FLIR Systems by 45.6% during the 2nd quarter. Bessemer Group Inc. now owns 2,117 shares of the scientific and technical instruments company’s stock valued at $115,000 after buying an additional 663 shares during the period. 90.88% of the stock is currently owned by institutional investors.
Several research firms have recently commented on FLIR. BidaskClub lowered shares of FLIR Systems from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, October 1st. Berenberg Bank began coverage on shares of FLIR Systems in a research report on Friday, September 6th. They set a “buy” rating and a $60.00 price target on the stock. Finally, ValuEngine lowered shares of FLIR Systems from a “buy” rating to a “hold” rating in a research report on Wednesday, July 24th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. FLIR Systems presently has a consensus rating of “Buy” and an average price target of $60.40.
FLIR Systems stock opened at $52.98 on Friday. FLIR Systems, Inc. has a fifty-two week low of $40.52 and a fifty-two week high of $57.98. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.61 and a current ratio of 2.47. The firm has a 50 day moving average price of $51.22 and a 200 day moving average price of $50.80. The company has a market capitalization of $7.04 billion, a PE ratio of 23.86 and a beta of 1.16.
FLIR Systems (NASDAQ:FLIR) last posted its earnings results on Wednesday, July 24th. The scientific and technical instruments company reported $0.56 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.55 by $0.01. FLIR Systems had a net margin of 15.44% and a return on equity of 16.56%. The firm had revenue of $482.00 million during the quarter, compared to the consensus estimate of $478.42 million. During the same quarter last year, the firm earned $0.55 EPS. The firm’s revenue for the quarter was up 6.4% on a year-over-year basis. As a group, equities research analysts forecast that FLIR Systems, Inc. will post 2.34 earnings per share for the current year.
In related news, VP Brian E. Harding sold 3,625 shares of FLIR Systems stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $52.48, for a total value of $190,240.00. Following the completion of the sale, the vice president now owns 8,876 shares in the company, valued at approximately $465,812.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.00% of the stock is currently owned by company insiders.
FLIR Systems 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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