Ledyard National Bank trimmed its stake in shares of FLIR Systems, Inc. (NASDAQ:FLIR) by 3.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 128,650 shares of the scientific and technical instruments company’s stock after selling 4,346 shares during the quarter. Ledyard National Bank owned 0.10% of FLIR Systems worth $6,960,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Osborn Williams & Donohoe LLC bought a new position in shares of FLIR Systems in the first quarter valued at approximately $39,000. Truvestments Capital LLC bought a new position in shares of FLIR Systems in the first quarter valued at approximately $59,000. Quadrant Capital Group LLC raised its stake in shares of FLIR Systems by 340.6% in the first quarter. Quadrant Capital Group LLC now owns 1,542 shares of the scientific and technical instruments company’s stock valued at $69,000 after acquiring an additional 1,192 shares during the last quarter. Hilton Capital Management LLC bought a new position in shares of FLIR Systems in the first quarter valued at approximately $92,000. Finally, Cullen Frost Bankers Inc. bought a new position in shares of FLIR Systems in the first quarter valued at approximately $104,000. 90.83% of the stock is currently owned by institutional investors.
FLIR has been the subject of a number of research analyst reports. ValuEngine cut shares of FLIR Systems from a “buy” rating to a “hold” rating in a research note on Wednesday, July 24th. Imperial Capital upgraded shares of FLIR Systems from an “in-line” rating to an “outperform” rating and boosted their price objective for the stock from $56.00 to $57.00 in a research report on Wednesday, May 22nd. Finally, BidaskClub cut shares of FLIR Systems from a “buy” rating to a “hold” rating in a research report on Thursday, July 18th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $60.50.
FLIR stock opened at $46.26 on Wednesday. The company has a quick ratio of 1.61, a current ratio of 2.47 and a debt-to-equity ratio of 0.34. The stock has a 50 day moving average of $52.76. FLIR Systems, Inc. has a fifty-two week low of $40.52 and a fifty-two week high of $63.88. The company has a market cap of $6.62 billion, a PE ratio of 20.84 and a beta of 1.17.
FLIR Systems (NASDAQ:FLIR) last posted its quarterly earnings data on Wednesday, July 24th. The scientific and technical instruments company reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.01. FLIR Systems had a net margin of 15.44% and a return on equity of 16.56%. The firm had revenue of $482.00 million during the quarter, compared to analysts’ expectations of $478.42 million. During the same quarter in the previous year, the company posted $0.55 EPS. FLIR Systems’s revenue was up 6.4% on a year-over-year basis. On average, equities research analysts anticipate that FLIR Systems, Inc. will post 2.34 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 6th. Investors of record on Friday, August 23rd will be given a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 1.47%. The ex-dividend date of this dividend is Thursday, August 22nd. FLIR Systems’s dividend payout ratio (DPR) is presently 30.63%.
FLIR Systems 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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