Arrow Investment Advisors LLC trimmed its stake in FLIR Systems, Inc. (NASDAQ:FLIR) by 14.8% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,242 shares of the scientific and technical instruments company’s stock after selling 2,819 shares during the period. FLIR Systems comprises approximately 0.3% of Arrow Investment Advisors LLC’s investment portfolio, making the stock its 25th biggest position. Arrow Investment Advisors LLC’s holdings in FLIR Systems were worth $844,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Three Peaks Capital Management LLC bought a new position in FLIR Systems in the 1st quarter valued at about $111,000. Ostrum Asset Management purchased a new stake in shares of FLIR Systems during the 1st quarter worth approximately $143,000. Cerebellum GP LLC purchased a new stake in shares of FLIR Systems during the 2nd quarter worth approximately $172,000. Steward Partners Investment Advisory LLC increased its stake in shares of FLIR Systems by 54.5% during the 2nd quarter. Steward Partners Investment Advisory LLC now owns 3,586 shares of the scientific and technical instruments company’s stock worth $186,000 after purchasing an additional 1,265 shares during the last quarter. Finally, BB&T Securities LLC purchased a new stake in shares of FLIR Systems during the 1st quarter worth approximately $209,000. Institutional investors and hedge funds own 90.61% of the company’s stock.
A number of research firms recently weighed in on FLIR. William Blair upgraded shares of FLIR Systems from a “market perform” rating to an “outperform” rating in a research note on Monday, August 20th. Imperial Capital restated an “outperform” rating and set a $60.00 price target (up from $53.00) on shares of FLIR Systems in a research report on Wednesday, August 1st. Stephens lifted their price objective on shares of FLIR Systems from $61.00 to $69.00 and gave the stock an “overweight” rating in a report on Monday, July 30th. Needham & Company LLC lifted their price objective on shares of FLIR Systems from $60.00 to $62.00 and gave the stock a “buy” rating in a report on Thursday, July 26th. Finally, Seaport Global Securities reissued a “buy” rating and issued a $66.00 price target on shares of FLIR Systems in a research note on Thursday, July 26th. Four investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Buy” and an average target price of $56.75.
Shares of NASDAQ FLIR traded up $0.37 during midday trading on Friday, hitting $62.74. The stock had a trading volume of 903,300 shares, compared to its average volume of 995,116. The company has a market cap of $8.53 billion, a PE ratio of 33.37 and a beta of 0.67. FLIR Systems, Inc. has a 52 week low of $37.18 and a 52 week high of $62.91. 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 (NASDAQ:FLIR) last issued its quarterly earnings data on Wednesday, July 25th. The scientific and technical instruments company reported $0.55 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.49 by $0.06. The company had revenue of $452.70 million for the quarter, compared to the consensus estimate of $429.12 million. FLIR Systems had a net margin of 6.70% and a return on equity of 16.44%. The firm’s revenue for the quarter was up 4.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.42 earnings per share. analysts forecast that FLIR Systems, Inc. will post 2.22 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 7th. Investors of record on Friday, August 24th will be given a dividend of $0.16 per share. The ex-dividend date of this dividend is Thursday, August 23rd. This represents a $0.64 dividend on an annualized basis and a yield of 1.02%. FLIR Systems’s dividend payout ratio (DPR) is 34.04%.
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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