PEAK6 Investments L.P. reduced its position in FLIR Systems, Inc. (NASDAQ:FLIR) by 78.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,016 shares of the scientific and technical instruments company’s stock after selling 18,213 shares during the quarter. PEAK6 Investments L.P.’s holdings in FLIR Systems were worth $261,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in the business. Summit Trail Advisors LLC boosted its position in FLIR Systems by 3,042.2% during the 1st quarter. Summit Trail Advisors LLC now owns 103,536 shares of the scientific and technical instruments company’s stock worth $104,000 after buying an additional 100,241 shares during the period. Three Peaks Capital Management LLC acquired a new stake in FLIR Systems during the 1st quarter worth approximately $111,000. Fort L.P. acquired a new stake in FLIR Systems during the 2nd quarter worth approximately $117,000. Ostrum Asset Management acquired a new position in shares of FLIR Systems in the 1st quarter worth approximately $143,000. Finally, Cerebellum GP LLC acquired a new position in shares of FLIR Systems in the 2nd quarter worth approximately $172,000. 90.58% of the stock is currently owned by hedge funds and other institutional investors.
In other FLIR Systems news, VP Jeffrey Frank sold 42,912 shares of the company’s stock in a transaction dated Friday, September 7th. The shares were sold at an average price of $62.19, for a total transaction of $2,668,697.28. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Todd M. Duchene sold 3,844 shares of the company’s stock in a transaction dated Thursday, July 19th. The shares were sold at an average price of $54.50, for a total transaction of $209,498.00. Following the sale, the senior vice president now directly owns 37,453 shares in the company, valued at $2,041,188.50. The disclosure for this sale can be found here. Insiders sold a total of 133,264 shares of company stock worth $8,081,353 over the last three months. 2.00% of the stock is owned by insiders.
A number of research analysts have recently issued reports on the stock. William Blair upgraded shares of FLIR Systems from a “market perform” rating to an “outperform” rating in a research report on Monday, August 20th. Imperial Capital reiterated an “outperform” rating and issued a $60.00 price objective (up previously from $53.00) on shares of FLIR Systems in a research note on Wednesday, August 1st. Zacks Investment Research lowered shares of FLIR Systems from a “hold” rating to a “sell” rating in a research note on Wednesday, July 4th. Needham & Company LLC lifted their price objective on shares of FLIR Systems from $60.00 to $62.00 and gave the company a “buy” rating in a research note on Thursday, July 26th. Finally, Seaport Global Securities reiterated a “buy” rating and issued a $66.00 price objective on shares of FLIR Systems in a research note on Thursday, July 26th. Four research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. FLIR Systems has an average rating of “Buy” and an average target price of $56.75.
Shares of NASDAQ FLIR traded down $0.33 during trading on Friday, hitting $59.96. The stock had a trading volume of 594,769 shares, compared to its average volume of 956,400. FLIR Systems, Inc. has a 12 month low of $40.84 and a 12 month high of $63.88. The company has a debt-to-equity ratio of 0.23, a current ratio of 4.07 and a quick ratio of 2.85. The firm has a market cap of $8.48 billion, a price-to-earnings ratio of 31.89 and a beta of 0.68.
FLIR Systems (NASDAQ:FLIR) last posted its earnings results on Wednesday, July 25th. The scientific and technical instruments company reported $0.55 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.49 by $0.06. The firm had revenue of $452.70 million during the quarter, compared to analyst estimates of $429.12 million. FLIR Systems had a net margin of 6.70% and a return on equity of 16.44%. The business’s revenue was up 4.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.42 EPS. On average, research analysts anticipate that FLIR Systems, Inc. will post 2.22 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 7th. Investors of record on Friday, August 24th were issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date was Thursday, August 23rd. FLIR Systems’s dividend payout ratio (DPR) is currently 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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