Oppenheimer & Co. Inc. Acquires Shares of 6,745 FLIR Systems, Inc. (FLIR)

Oppenheimer & Co. Inc. acquired a new position in FLIR Systems, Inc. (NASDAQ:FLIR) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 6,745 shares of the scientific and technical instruments company’s stock, valued at approximately $415,000.

Several other institutional investors and hedge funds have also bought and sold shares of FLIR. Morgan Stanley boosted its holdings in shares of FLIR Systems by 217.7% in the second quarter. Morgan Stanley now owns 957,781 shares of the scientific and technical instruments company’s stock worth $49,776,000 after buying an additional 656,278 shares during the last quarter. Argent Capital Management LLC boosted its holdings in shares of FLIR Systems by 109.6% in the second quarter. Argent Capital Management LLC now owns 1,230,485 shares of the scientific and technical instruments company’s stock worth $63,948,000 after buying an additional 643,290 shares during the last quarter. Janus Henderson Group PLC raised its stake in FLIR Systems by 846.8% during the 2nd quarter. Janus Henderson Group PLC now owns 633,637 shares of the scientific and technical instruments company’s stock worth $32,930,000 after acquiring an additional 566,711 shares during the period. Artisan Partners Limited Partnership raised its stake in FLIR Systems by 23.1% during the 2nd quarter. Artisan Partners Limited Partnership now owns 2,101,834 shares of the scientific and technical instruments company’s stock worth $109,232,000 after acquiring an additional 394,412 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its stake in FLIR Systems by 13.5% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,090,528 shares of the scientific and technical instruments company’s stock worth $189,975,000 after acquiring an additional 368,581 shares during the period. 90.72% of the stock is currently owned by institutional investors.

FLIR has been the topic of a number of recent analyst reports. BidaskClub upgraded shares of FLIR Systems from a “hold” rating to a “buy” rating in a research note on Saturday, September 1st. Needham & Company LLC raised their target price on shares of FLIR Systems from $60.00 to $62.00 and gave the stock a “buy” rating in a research note on Thursday, July 26th. Seaport Global Securities restated a “buy” rating and set a $66.00 target price on shares of FLIR Systems in a research note on Thursday, July 26th. Zacks Investment Research upgraded shares of FLIR Systems from a “hold” rating to a “buy” rating and set a $60.00 target price on the stock in a research note on Monday, July 23rd. Finally, ValuEngine cut shares of FLIR Systems from a “buy” rating to a “hold” rating in a research note on Wednesday, October 31st. One research analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $58.17.

FLIR Systems stock opened at $48.88 on Friday. The company has a market cap of $6.70 billion, a PE ratio of 26.00 and a beta of 1.10. The company has a current ratio of 4.21, a quick ratio of 3.04 and a debt-to-equity ratio of 0.22. FLIR Systems, Inc. has a 1 year low of $45.00 and a 1 year high of $63.88.

FLIR Systems (NASDAQ:FLIR) last released its quarterly earnings data on Tuesday, October 30th. The scientific and technical instruments company reported $0.57 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.57. The firm had revenue of $434.89 million for the quarter, compared to analysts’ expectations of $445.46 million. FLIR Systems had a net margin of 7.33% and a return on equity of 16.74%. The company’s revenue for the quarter was down 6.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.52 earnings per share. As a group, analysts anticipate that FLIR Systems, Inc. will post 2.21 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 7th. Stockholders of record on Friday, November 23rd will be given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 1.31%. The ex-dividend date is Wednesday, November 21st. FLIR Systems’s payout ratio is currently 34.04%.

In other news, VP Jeffrey Frank sold 42,912 shares of FLIR Systems stock in a transaction that occurred on 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 legal filing with the SEC, which is available at this hyperlink. Also, Director Earl R. Lewis sold 25,000 shares of FLIR Systems stock in a transaction that occurred on Friday, August 17th. The shares were sold at an average price of $60.09, for a total transaction of $1,502,250.00. Following the sale, the director now owns 538,387 shares in the company, valued at approximately $32,351,674.83. The disclosure for this sale can be found here. In the last quarter, insiders have sold 90,912 shares of company stock worth $5,594,537. Company 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.

Further Reading: Earnings Per Share

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

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