PNC Financial Services Group Inc. lowered its position in shares of FLIR Systems, Inc. (NASDAQ:FLIR) by 13.2% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,934 shares of the scientific and technical instruments company’s stock after selling 906 shares during the quarter. PNC Financial Services Group Inc.’s holdings in FLIR Systems were worth $308,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Toronto Dominion Bank lifted its stake in FLIR Systems by 25.6% in the 1st quarter. Toronto Dominion Bank now owns 74,860 shares of the scientific and technical instruments company’s stock valued at $3,744,000 after buying an additional 15,250 shares in the last quarter. Natixis Advisors L.P. lifted its stake in FLIR Systems by 20.7% in the 1st quarter. Natixis Advisors L.P. now owns 20,088 shares of the scientific and technical instruments company’s stock valued at $1,005,000 after buying an additional 3,448 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in FLIR Systems by 9.2% in the 1st quarter. JPMorgan Chase & Co. now owns 320,593 shares of the scientific and technical instruments company’s stock valued at $16,033,000 after buying an additional 26,918 shares in the last quarter. Norinchukin Bank The lifted its stake in FLIR Systems by 14.9% in the 1st quarter. Norinchukin Bank The now owns 12,729 shares of the scientific and technical instruments company’s stock valued at $637,000 after buying an additional 1,649 shares in the last quarter. Finally, IFM Investors Pty Ltd purchased a new position in FLIR Systems in the 1st quarter valued at about $226,000. 90.58% of the stock is owned by institutional investors.

A number of research analysts recently weighed in on the stock. BidaskClub lowered shares of FLIR Systems from a “buy” rating to a “hold” rating in a research note on Thursday, September 20th. William Blair raised shares of FLIR Systems from a “market perform” rating to an “outperform” rating in a research note on Monday, August 20th. Imperial Capital reissued an “outperform” rating and issued a $60.00 target price (up from $53.00) on shares of FLIR Systems in a research note on Wednesday, August 1st. Stephens raised their target price on shares of FLIR Systems from $61.00 to $69.00 and gave the stock an “overweight” rating in a research note on Monday, July 30th. Finally, Needham & Company LLC raised their target price on shares of FLIR Systems from $60.00 to $62.00 and gave the stock a “buy” rating in a research note on Thursday, July 26th. Four analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $56.75.

FLIR opened at $60.82 on Thursday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.85 and a current ratio of 4.07. FLIR Systems, Inc. has a 1-year low of $38.67 and a 1-year high of $63.88. The company has a market capitalization of $8.52 billion, a price-to-earnings ratio of 29.00 and a beta of 0.67.

FLIR Systems (NASDAQ:FLIR) last released its earnings results on Wednesday, July 25th. The scientific and technical instruments company reported $0.55 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.49 by $0.06. FLIR Systems had a net margin of 6.70% and a return on equity of 16.44%. The business had revenue of $452.70 million for the quarter, compared to analyst estimates of $429.12 million. During the same period last year, the company posted $0.42 EPS. The business’s revenue was up 4.3% on a year-over-year basis. sell-side analysts forecast that FLIR Systems, Inc. will post 2.22 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, September 7th. Shareholders of record on Friday, August 24th were paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 1.05%. The ex-dividend date of this dividend was Thursday, August 23rd. FLIR Systems’s dividend payout ratio (DPR) is 34.04%.

In other news, VP Jeffrey Frank sold 42,912 shares of FLIR Systems stock in a transaction that occurred on Friday, September 7th. The shares were sold at an average price of $62.19, for a total transaction of $2,668,697.28. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Todd M. Duchene sold 1,000 shares of FLIR Systems stock in a transaction that occurred on Monday, September 17th. The shares were sold at an average price of $62.95, for a total transaction of $62,950.00. Following the sale, the senior vice president now directly owns 38,453 shares in the company, valued at approximately $2,420,616.35. The disclosure for this sale can be found here. Insiders sold a total of 133,264 shares of company stock worth $8,081,353 over the last three months. Corporate insiders own 2.00% of the company’s stock.

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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Institutional Ownership by Quarter for FLIR Systems (NASDAQ:FLIR)

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