QCI Asset Management Inc. NY Acquires 6,789 Shares of FLIR Systems, Inc. (FLIR)
QCI Asset Management Inc. NY lifted its holdings in shares of FLIR Systems, Inc. (NASDAQ:FLIR) by 1.7% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 402,134 shares of the scientific and technical instruments company’s stock after buying an additional 6,789 shares during the period. FLIR Systems makes up approximately 1.7% of QCI Asset Management Inc. NY’s holdings, making the stock its 19th largest position. QCI Asset Management Inc. NY owned approximately 0.29% of FLIR Systems worth $15,647,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds have also made changes to their positions in FLIR. Commonwealth Bank of Australia lifted its position in FLIR Systems by 14.0% in the second quarter. Commonwealth Bank of Australia now owns 3,250 shares of the scientific and technical instruments company’s stock valued at $111,000 after purchasing an additional 400 shares during the period. Acrospire Investment Management LLC acquired a new stake in FLIR Systems in the second quarter valued at about $116,000. Sei Investments Co. lifted its position in FLIR Systems by 76.3% in the third quarter. Sei Investments Co. now owns 4,507 shares of the scientific and technical instruments company’s stock valued at $175,000 after purchasing an additional 1,951 shares during the period. ETF Managers Group LLC acquired a new stake in FLIR Systems in the second quarter valued at about $171,000. Finally, OppenheimerFunds Inc. acquired a new stake in FLIR Systems in the first quarter valued at about $203,000. Institutional investors and hedge funds own 89.74% of the company’s stock.
In other news, COO Thomas A. Surran sold 261,320 shares of the firm’s stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $38.25, for a total transaction of $9,995,490.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Earl R. Lewis sold 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 16th. The stock was sold at an average price of $38.22, for a total transaction of $764,400.00. Following the transaction, the director now directly owns 509,379 shares of the company’s stock, valued at $19,468,465.38. The disclosure for this sale can be found here. Over the last three months, insiders have sold 303,356 shares of company stock valued at $11,799,206. Corporate insiders own 3.00% of the company’s stock.
Shares of FLIR Systems, Inc. (NASDAQ:FLIR) traded up $0.39 during trading on Monday, reaching $46.73. 616,800 shares of the company’s stock were exchanged, compared to its average volume of 955,775. FLIR Systems, Inc. has a 12 month low of $33.69 and a 12 month high of $48.06. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.36 and a current ratio of 3.48. The stock has a market capitalization of $6,510.00, a PE ratio of 25.68 and a beta of 0.63.
FLIR Systems (NASDAQ:FLIR) last issued its earnings results on Wednesday, October 25th. The scientific and technical instruments company reported $0.52 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.48 by $0.04. FLIR Systems had a net margin of 12.30% and a return on equity of 14.30%. The company had revenue of $464.70 million during the quarter, compared to analysts’ expectations of $446.06 million. During the same period last year, the company posted $0.48 earnings per share. The firm’s quarterly revenue was up 14.7% compared to the same quarter last year. research analysts predict that FLIR Systems, Inc. will post 1.86 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 8th. Stockholders of record on Friday, November 24th will be paid a dividend of $0.15 per share. The ex-dividend date is Wednesday, November 22nd. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.28%. FLIR Systems’s dividend payout ratio (DPR) is 37.97%.
A number of equities research analysts recently commented on FLIR shares. Needham & Company LLC raised their price objective on shares of FLIR Systems from $40.00 to $42.00 and gave the company a “buy” rating in a research report on Wednesday, September 6th. Raymond James Financial, Inc. raised their price objective on shares of FLIR Systems to $60.00 and gave the company a “strong-buy” rating in a research report on Wednesday, October 25th. BidaskClub raised shares of FLIR Systems from a “sell” rating to a “hold” rating in a report on Monday, July 17th. Zacks Investment Research raised shares of FLIR Systems from a “hold” rating to a “strong-buy” rating and set a $53.00 target price for the company in a report on Thursday, October 26th. Finally, Robert W. Baird reaffirmed a “hold” rating and issued a $34.00 target price on shares of FLIR Systems in a report on Tuesday, October 24th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, two have issued a buy rating and three have given a strong buy rating to the stock. FLIR Systems currently has a consensus rating of “Buy” and a consensus target price of $46.33.
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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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