Twin Tree Management LP Acquires Shares of 11,253 FLIR Systems, Inc. (FLIR)
Twin Tree Management LP purchased a new position in FLIR Systems, Inc. (NASDAQ:FLIR) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor purchased 11,253 shares of the scientific and technical instruments company’s stock, valued at approximately $585,000.
Other hedge funds and other institutional investors have also modified their holdings of the company. Summit Trail Advisors LLC boosted its holdings in FLIR Systems by 3,042.2% in the first quarter. Summit Trail Advisors LLC now owns 103,536 shares of the scientific and technical instruments company’s stock worth $104,000 after acquiring an additional 100,241 shares in the last quarter. Three Peaks Capital Management LLC acquired a new stake in FLIR Systems in the first quarter worth about $111,000. Ostrum Asset Management acquired a new stake in FLIR Systems in the first quarter worth about $143,000. Cerebellum GP LLC acquired a new stake in FLIR Systems in the second quarter worth about $172,000. Finally, Steward Partners Investment Advisory LLC boosted its holdings in FLIR Systems by 54.5% in the second quarter. Steward Partners Investment Advisory LLC now owns 3,586 shares of the scientific and technical instruments company’s stock worth $186,000 after acquiring an additional 1,265 shares in the last quarter. 92.32% of the stock is owned by institutional investors and hedge funds.
FLIR Systems stock opened at $60.17 on Friday. The company has a debt-to-equity ratio of 0.23, a current ratio of 4.07 and a quick ratio of 2.85. FLIR Systems, Inc. has a 52 week low of $37.18 and a 52 week high of $60.71. The stock has a market cap of $8.19 billion, a P/E ratio of 32.01 and a beta of 0.67.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 7th. Investors of record on Friday, August 24th will be issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.06%. The ex-dividend date is Thursday, August 23rd. FLIR Systems’s dividend payout ratio (DPR) is 34.04%.
In related news, SVP Todd M. Duchene sold 1,000 shares of FLIR Systems stock in a transaction dated Wednesday, August 15th. The stock was sold at an average price of $60.01, for a total transaction of $60,010.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Earl R. Lewis sold 39,508 shares of FLIR Systems stock in a transaction dated Friday, July 27th. The stock was sold at an average price of $59.05, for a total value of $2,332,947.40. The disclosure for this sale can be found here. Insiders have sold 75,078 shares of company stock valued at $4,280,720 in the last ninety days. Corporate insiders own 2.00% of the company’s stock.
Several brokerages have weighed in on FLIR. BidaskClub downgraded FLIR Systems from a “buy” rating to a “hold” rating in a report on Saturday, July 7th. Zacks Investment Research raised FLIR Systems from a “hold” rating to a “buy” rating and set a $60.00 price target for the company in a report on Monday, July 23rd. Seaport Global Securities reissued a “buy” rating and issued a $66.00 price target on shares of FLIR Systems in a report on Thursday, July 26th. Needham & Company LLC raised their price target on FLIR Systems from $60.00 to $62.00 and gave the stock a “buy” rating in a report on Thursday, July 26th. Finally, Stephens raised their price target on FLIR Systems from $61.00 to $69.00 and gave the stock an “overweight” rating in a report on Monday, July 30th. Five analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $56.75.
FLIR Systems Company 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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