Cramer Rosenthal Mcglynn LLC Has $41.48 Million Stake in FLIR Systems, Inc. (NASDAQ:FLIR)
Cramer Rosenthal Mcglynn LLC raised its holdings in FLIR Systems, Inc. (NASDAQ:FLIR) by 8.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 766,732 shares of the scientific and technical instruments company’s stock after buying an additional 58,807 shares during the period. Cramer Rosenthal Mcglynn LLC owned 0.57% of FLIR Systems worth $41,480,000 at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. Hilton Capital Management LLC acquired a new stake in FLIR Systems in the 1st quarter valued at $92,000. Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of FLIR Systems in the 2nd quarter valued at about $108,000. Bessemer Group Inc. grew its position in shares of FLIR Systems by 45.6% in the 2nd quarter. Bessemer Group Inc. now owns 2,117 shares of the scientific and technical instruments company’s stock valued at $115,000 after acquiring an additional 663 shares during the period. Almanack Investment Partners LLC. bought a new position in shares of FLIR Systems in the 2nd quarter valued at about $117,000. Finally, Steward Partners Investment Advisory LLC bought a new position in shares of FLIR Systems in the 2nd quarter valued at about $139,000. Hedge funds and other institutional investors own 91.07% of the company’s stock.
A number of brokerages have recently commented on FLIR. Imperial Capital raised shares of FLIR Systems from an “in-line” rating to an “outperform” rating and lifted their price objective for the company from $56.00 to $57.00 in a research report on Wednesday, May 22nd. ValuEngine downgraded shares of FLIR Systems from a “buy” rating to a “hold” rating in a research report on Wednesday, July 24th. BidaskClub raised shares of FLIR Systems from a “hold” rating to a “buy” rating in a research report on Friday, August 30th. Finally, Berenberg Bank began coverage on shares of FLIR Systems in a research report on Friday, September 6th. They issued a “buy” rating and a $60.00 price objective for the company. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $60.40.
FLIR Systems (NASDAQ:FLIR) last announced its earnings results on Wednesday, July 24th. The scientific and technical instruments company reported $0.56 EPS for the quarter, topping the consensus estimate of $0.55 by $0.01. The business had revenue of $482.00 million during the quarter, compared to the consensus estimate of $478.42 million. FLIR Systems had a net margin of 15.44% and a return on equity of 16.56%. FLIR Systems’s revenue was up 6.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.55 EPS. As a group, research analysts forecast that FLIR Systems, Inc. will post 2.34 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 6th. Investors of record on Friday, August 23rd were issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 1.29%. The ex-dividend date was Thursday, August 22nd. FLIR Systems’s payout ratio is 30.63%.
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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