Texas Permanent School Fund reduced its stake in shares of FLIR Systems, Inc. (NASDAQ:FLIR) by 7.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 30,984 shares of the scientific and technical instruments company’s stock after selling 2,499 shares during the quarter. Texas Permanent School Fund’s holdings in FLIR Systems were worth $1,905,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Fort L.P. purchased a new stake in FLIR Systems in the second quarter valued at about $117,000. OLD Mutual Customised Solutions Proprietary Ltd. purchased a new stake in FLIR Systems in the second quarter valued at about $130,000. Almanack Investment Partners LLC. purchased a new stake in FLIR Systems in the second quarter valued at about $185,000. Steward Partners Investment Advisory LLC raised its stake in FLIR Systems by 54.5% in the second quarter. Steward Partners Investment Advisory LLC now owns 3,586 shares of the scientific and technical instruments company’s stock valued at $186,000 after buying an additional 1,265 shares during the last quarter. Finally, Suntrust Banks Inc. purchased a new stake in FLIR Systems in the first quarter valued at about $225,000. Hedge funds and other institutional investors own 90.72% of the company’s stock.
Shares of FLIR stock opened at $48.92 on Thursday. The company has a current ratio of 4.21, a quick ratio of 3.04 and a debt-to-equity ratio of 0.22. The stock has a market capitalization of $6.70 billion, a PE ratio of 26.02 and a beta of 1.10. FLIR Systems, Inc. has a fifty-two week low of $45.00 and a fifty-two week high of $63.88.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 7th. Stockholders of record on Friday, November 23rd will be issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.31%. The ex-dividend date of this dividend is Wednesday, November 21st. FLIR Systems’s dividend payout ratio is presently 34.04%.
A number of equities research analysts have commented on the company. William Blair upgraded FLIR Systems from a “market perform” rating to an “outperform” rating in a research note on Monday, August 20th. Imperial Capital reiterated an “outperform” rating and issued a $60.00 price target (up from $53.00) on shares of FLIR Systems in a research note on Wednesday, August 1st. Zacks Investment Research cut FLIR Systems from a “buy” rating to a “hold” rating in a research note on Monday, October 22nd. Needham & Company LLC increased their price target on FLIR Systems from $60.00 to $62.00 and gave the company a “buy” rating in a research note on Thursday, July 26th. Finally, Stephens increased their price target on FLIR Systems from $61.00 to $69.00 and gave the company an “overweight” rating in a research note on Monday, July 30th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $58.17.
In other news, VP Jeffrey Frank sold 42,912 shares of the stock in a transaction dated Friday, September 7th. The stock was sold at an average price of $62.19, for a total value of $2,668,697.28. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Earl R. Lewis sold 25,000 shares of the stock in a transaction dated Friday, August 17th. The shares were sold at an average price of $60.09, for a total value of $1,502,250.00. Following the completion of the transaction, the director now directly owns 538,387 shares in the company, valued at $32,351,674.83. The disclosure for this sale can be found here. Insiders sold 90,912 shares of company stock worth $5,594,537 over the last three months. Corporate insiders own 2.00% of the company’s stock.
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FLIR Systems Company 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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