Virtu Financial LLC Takes $687,000 Position in FLIR Systems, Inc. (NASDAQ:FLIR)

Virtu Financial LLC purchased a new stake in shares of FLIR Systems, Inc. (NASDAQ:FLIR) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 14,429 shares of the scientific and technical instruments company’s stock, valued at approximately $687,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bessemer Group Inc. boosted its stake in FLIR Systems by 18.2% in the fourth quarter. Bessemer Group Inc. now owns 1,454 shares of the scientific and technical instruments company’s stock valued at $63,000 after acquiring an additional 224 shares during the last quarter. Metropolitan Life Insurance Co. NY boosted its position in shares of FLIR Systems by 1.1% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 20,633 shares of the scientific and technical instruments company’s stock worth $898,000 after purchasing an additional 224 shares in the last quarter. Cardinal Capital Management boosted its position in shares of FLIR Systems by 1.3% during the first quarter. Cardinal Capital Management now owns 17,117 shares of the scientific and technical instruments company’s stock worth $814,000 after purchasing an additional 228 shares in the last quarter. First Hawaiian Bank raised its holdings in shares of FLIR Systems by 2.8% during the first quarter. First Hawaiian Bank now owns 11,877 shares of the scientific and technical instruments company’s stock worth $566,000 after acquiring an additional 320 shares during the period. Finally, Daiwa Securities Group Inc. raised its holdings in shares of FLIR Systems by 6.6% during the fourth quarter. Daiwa Securities Group Inc. now owns 5,639 shares of the scientific and technical instruments company’s stock worth $246,000 after acquiring an additional 350 shares during the period. 91.74% of the stock is owned by institutional investors.

Several equities research analysts have issued reports on FLIR shares. Robert W. Baird upgraded shares of FLIR Systems from a “neutral” rating to an “outperform” rating in a research note on Friday, January 25th. BidaskClub raised shares of FLIR Systems from a “sell” rating to a “hold” rating in a report on Tuesday, January 29th. Zacks Investment Research raised shares of FLIR Systems from a “sell” rating to a “hold” rating in a report on Monday, February 4th. Imperial Capital reissued an “in-line” rating and issued a $56.00 price objective (up previously from $51.00) on shares of FLIR Systems in a report on Wednesday, February 20th. They noted that the move was a valuation call. Finally, Raymond James cut their price target on shares of FLIR Systems from $70.00 to $65.00 and set a “strong-buy” rating for the company in a report on Friday, January 11th. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $62.29.

NASDAQ FLIR traded down $0.42 on Friday, hitting $51.38. The company’s stock had a trading volume of 810,150 shares, compared to its average volume of 1,035,478. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.61 and a current ratio of 2.45. FLIR Systems, Inc. has a 1-year low of $40.52 and a 1-year high of $63.88. The stock has a market cap of $7.01 billion, a P/E ratio of 23.14 and a beta of 1.13.

FLIR Systems (NASDAQ:FLIR) last posted its quarterly earnings data on Wednesday, April 24th. The scientific and technical instruments company reported $0.53 EPS for the quarter, beating the Zacks’ consensus estimate of $0.48 by $0.05. FLIR Systems had a net margin of 17.13% and a return on equity of 16.84%. The company had revenue of $444.70 million for the quarter, compared to analyst estimates of $440.98 million. During the same period in the prior year, the firm posted $0.48 EPS. The company’s quarterly revenue was up 1.2% on a year-over-year basis. Analysts predict that FLIR Systems, Inc. will post 2.35 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Friday, May 24th will be paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 1.32%. The ex-dividend date of this dividend is Thursday, May 23rd. FLIR Systems’s dividend payout ratio is presently 30.63%.

In related news, SVP Todd M. Duchene sold 8,544 shares of the stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $50.33, for a total transaction of $430,019.52. Following the transaction, the senior vice president now directly owns 24,526 shares of the company’s stock, valued at $1,234,393.58. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Earl R. Lewis sold 132,100 shares of the firm’s stock in a transaction on Tuesday, February 26th. The shares were sold at an average price of $52.11, for a total transaction of $6,883,731.00. Following the completion of the transaction, the director now directly owns 635,487 shares in the company, valued at $33,115,227.57. The disclosure for this sale can be found here. Over the last three months, insiders have sold 338,599 shares of company stock worth $17,484,062. 2.00% of the stock is owned by insiders.

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FLIR Systems Company Profile

FLIR Systems, Inc designs, develops, markets, and distributes thermal imaging systems, visible-light imaging systems, locater systems, measurement and diagnostic systems, and threat-detection solutions worldwide. The company operates in three segments: Industrial Business Unit, Government and Defense Business Unit, and Commercial Business Unit.

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

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