Earnest Partners LLC lessened its stake in shares of FLIR Systems, Inc. (NASDAQ:FLIR) by 0.3% during the second quarter, Holdings Channel.com reports. The firm owned 2,100,971 shares of the scientific and technical instruments company’s stock after selling 7,136 shares during the period. FLIR Systems accounts for about 1.0% of Earnest Partners LLC’s portfolio, making the stock its 24th biggest position. Earnest Partners LLC’s holdings in FLIR Systems were worth $113,663,000 at the end of the most recent quarter.
Other hedge funds also recently added to or reduced their stakes in the company. Hilton Capital Management LLC bought a new position in shares of FLIR Systems during the 1st quarter worth about $92,000. Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of FLIR Systems during the 2nd quarter worth about $108,000. Bessemer Group Inc. boosted its position in shares of FLIR Systems by 45.6% during the 2nd quarter. Bessemer Group Inc. now owns 2,117 shares of the scientific and technical instruments company’s stock worth $115,000 after purchasing an additional 663 shares in the last quarter. Almanack Investment Partners LLC. bought a new position in shares of FLIR Systems during the 2nd quarter worth about $117,000. Finally, Zions Bancorporation N.A. bought a new position in FLIR Systems in the 1st quarter valued at about $126,000. 91.07% of the stock is currently owned by institutional investors.
FLIR Systems stock opened at $52.72 on Friday. FLIR Systems, Inc. has a 52 week low of $40.52 and a 52 week high of $63.88. The company’s 50 day moving average price is $48.87 and its two-hundred day moving average price is $50.47. 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 market cap of $7.04 billion, a P/E ratio of 23.63 and a beta of 1.17.
FLIR Systems (NASDAQ:FLIR) last posted its earnings results on Wednesday, July 24th. The scientific and technical instruments company reported $0.56 EPS for the quarter, topping the Thomson Reuters’ 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 for the quarter, compared to analysts’ expectations of $478.42 million. During the same quarter last year, the firm earned $0.55 EPS. The company’s quarterly revenue was up 6.4% compared to the same quarter last year. On average, equities analysts anticipate that FLIR Systems, Inc. will post 2.34 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 6th. Shareholders of record on Friday, August 23rd were given a dividend of $0.17 per share. The ex-dividend date of this dividend was Thursday, August 22nd. This represents a $0.68 annualized dividend and a dividend yield of 1.29%. FLIR Systems’s dividend payout ratio is currently 30.63%.
Several equities analysts recently weighed in on the stock. Imperial Capital raised shares of FLIR Systems from an “in-line” rating to an “outperform” rating and raised their price target for the company from $56.00 to $57.00 in a research report on Wednesday, May 22nd. Berenberg Bank assumed coverage on shares of FLIR Systems in a research report on Friday, September 6th. They issued a “buy” rating and a $60.00 price target on the stock. BidaskClub raised shares of FLIR Systems from a “hold” rating to a “buy” rating in a research report on Friday, August 30th. Finally, ValuEngine cut shares of FLIR Systems from a “buy” rating to a “hold” rating in a research report on Wednesday, July 24th. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $60.40.
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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