PNC Financial Services Group Inc. increased its position in FLIR Systems, Inc. (NASDAQ:FLIR) by 9.9% during the first quarter, Holdings Channel reports. The firm owned 6,649 shares of the scientific and technical instruments company’s stock after buying an additional 599 shares during the period. PNC Financial Services Group Inc.’s holdings in FLIR Systems were worth $240,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Cribstone Capital Management LLC bought a new position in FLIR Systems during the first quarter worth $106,000. TrimTabs Asset Management LLC bought a new position in FLIR Systems during the first quarter worth $112,000. Mn Services Vermogensbeheer B.V. raised its position in FLIR Systems by 4.7% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 3,638 shares of the scientific and technical instruments company’s stock worth $123,000 after buying an additional 163 shares during the period. FTB Advisors Inc. bought a new position in FLIR Systems during the first quarter worth $130,000. Finally, Daiwa Securities Group Inc. raised its position in FLIR Systems by 21.9% in the first quarter. Daiwa Securities Group Inc. now owns 3,900 shares of the scientific and technical instruments company’s stock worth $141,000 after buying an additional 700 shares during the period. 91.83% of the stock is currently owned by institutional investors.

Shares of FLIR Systems, Inc. (FLIR) opened at 38.25 on Wednesday. FLIR Systems, Inc. has a 12-month low of $28.26 and a 12-month high of $38.94. The company has a 50 day moving average price of $36.29 and a 200 day moving average price of $36.26. The stock has a market cap of $5.22 billion, a P/E ratio of 25.48 and a beta of 0.58.

FLIR Systems (NASDAQ:FLIR) last issued its earnings results on Wednesday, April 26th. The scientific and technical instruments company reported $0.36 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.36. FLIR Systems had a return on equity of 13.58% and a net margin of 12.32%. The firm had revenue of $406.80 million for the quarter, compared to analysts’ expectations of $408.57 million. During the same quarter last year, the firm earned $0.30 earnings per share. The firm’s revenue for the quarter was up 7.2% compared to the same quarter last year. Analysts anticipate that FLIR Systems, Inc. will post $1.85 earnings per share for the current fiscal year.

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A number of equities research analysts have commented on the company. Zacks Investment Research upgraded FLIR Systems from a “hold” rating to a “buy” rating and set a $39.00 target price on the stock in a research report on Tuesday, June 27th. BidaskClub upgraded FLIR Systems from a “sell” rating to a “hold” rating in a research report on Monday. Stephens assumed coverage on FLIR Systems in a research report on Friday, July 7th. They issued an “overweight” rating on the stock. Raymond James Financial, Inc. upgraded FLIR Systems from a “market perform” rating to a “strong-buy” rating and set a $43.00 target price on the stock in a research report on Monday, July 10th. Finally, UBS AG upgraded FLIR Systems from a “market perform” rating to a “strong-buy” rating in a research report on Monday, July 10th. Four equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the stock. FLIR Systems has a consensus rating of “Buy” and an average target price of $37.63.

In related news, Director William Wright Crouch sold 38,800 shares of FLIR Systems stock in a transaction on Wednesday, June 14th. The stock was sold at an average price of $35.95, for a total value of $1,394,860.00. Following the transaction, the director now owns 36,006 shares in the company, valued at $1,294,415.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Jeffrey Frank sold 13,971 shares of FLIR Systems stock in a transaction on Thursday, May 18th. The shares were sold at an average price of $37.40, for a total value of $522,515.40. The disclosure for this sale can be found here. Insiders sold 71,771 shares of company stock worth $2,625,195 in the last quarter. 3.00% of the stock is owned by insiders.

About FLIR Systems

FLIR Systems, Inc (FLIR) designs, develops, markets and distributes thermal imaging systems, visible-light imaging systems, locater systems, measurement and diagnostic systems and threat-detection solutions. The Company’s segments include 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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