First Manhattan Co. lowered its stake in shares of FLIR Systems, Inc. (NASDAQ:FLIR) by 2.8% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 115,059 shares of the scientific and technical instruments company’s stock after selling 3,266 shares during the period. First Manhattan Co. owned approximately 0.08% of FLIR Systems worth $4,476,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in FLIR. Commonwealth Bank of Australia boosted its stake in FLIR Systems by 14.0% during the 2nd quarter. Commonwealth Bank of Australia now owns 3,250 shares of the scientific and technical instruments company’s stock valued at $111,000 after purchasing an additional 400 shares during the last quarter. Acrospire Investment Management LLC acquired a new position in FLIR Systems during the 2nd quarter valued at about $116,000. ETF Managers Group LLC acquired a new position in FLIR Systems during the 2nd quarter valued at about $171,000. OppenheimerFunds Inc. acquired a new position in FLIR Systems during the 1st quarter valued at about $203,000. Finally, Koch Industries Inc. acquired a new position in FLIR Systems during the 2nd quarter valued at about $214,000. Institutional investors and hedge funds own 91.73% of the company’s stock.

FLIR Systems (NASDAQ:FLIR) last announced its quarterly earnings data on Wednesday, October 25th. The scientific and technical instruments company reported $0.52 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.48 by $0.04. The business had revenue of $464.70 million for the quarter, compared to analysts’ expectations of $446.06 million. FLIR Systems had a net margin of 12.30% and a return on equity of 14.30%. The business’s revenue was up 14.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.48 earnings per share.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 8th. Shareholders of record on Friday, November 24th will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 1.28%. The ex-dividend date of this dividend is Wednesday, November 22nd. FLIR Systems’s dividend payout ratio (DPR) is presently 37.74%.

A number of equities analysts have issued reports on the company. SunTrust Banks, Inc. lifted their price target on FLIR Systems from $37.00 to $43.00 and gave the company a “hold” rating in a research note on Thursday, October 26th. Needham & Company LLC reiterated a “buy” rating and set a $50.00 price target (up previously from $42.00) on shares of FLIR Systems in a research note on Thursday, October 26th. Robert W. Baird reiterated a “hold” rating and set a $34.00 price target on shares of FLIR Systems in a research note on Tuesday, October 24th. Raymond James Financial, Inc. lifted their price target on FLIR Systems to $60.00 and gave the company a “strong-buy” rating in a research note on Wednesday, October 25th. Finally, Zacks Investment Research upgraded FLIR Systems from a “hold” rating to a “strong-buy” rating and set a $53.00 price target for the company in a research note on Thursday, October 26th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, two have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. FLIR Systems currently has an average rating of “Buy” and a consensus target price of $46.33.

In other news, SVP Todd M. Duchene sold 9,000 shares of the stock in a transaction that occurred on Monday, October 30th. The shares were sold at an average price of $47.00, for a total transaction of $423,000.00. Following the sale, the senior vice president now owns 29,767 shares in the company, valued at $1,399,049. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, VP Brian E. Harding sold 1,836 shares of the stock in a transaction that occurred on Monday, October 30th. The shares were sold at an average price of $46.90, for a total transaction of $86,108.40. Following the sale, the vice president now owns 6,646 shares in the company, valued at approximately $311,697.40. The disclosure for this sale can be found here. In the last 90 days, insiders sold 303,356 shares of company stock worth $11,799,206. Corporate insiders own 3.00% of the company’s stock.

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FLIR Systems Company Profile

FLIR Systems, Inc (FLIR) designs, develops, markets and distributes thermal imaging systems, visible-light imaging systems, locater systems, measurement and diagnostic systems and threat-detection solutions. The Company’s segments include Surveillance, Instruments, Security, OEM & Emerging Markets, Maritime and Detection.

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

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