FLIR Systems, Inc. (NASDAQ:FLIR) has earned a consensus recommendation of “Buy” from the nine research firms that are presently covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $59.25.
A number of research firms have weighed in on FLIR. ValuEngine cut shares of FLIR Systems from a “buy” rating to a “hold” rating in a report on Wednesday, July 24th. BidaskClub raised shares of FLIR Systems from a “buy” rating to a “strong-buy” rating in a report on Wednesday, September 18th. Finally, Berenberg Bank began coverage on shares of FLIR Systems in a report on Friday, September 6th. They issued a “buy” rating and a $60.00 price objective for the company.
NASDAQ FLIR traded up $0.22 on Wednesday, reaching $53.66. 12,020 shares of the company’s stock traded hands, compared to its average volume of 666,332. The firm has a market cap of $7.21 billion, a price-to-earnings ratio of 24.23 and a beta of 1.17. The stock has a 50 day moving average price of $49.55 and a 200-day moving average price of $50.55. FLIR Systems has a fifty-two week low of $40.52 and a fifty-two week high of $62.59. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.61 and a current ratio of 2.47.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 6th. Shareholders of record on Friday, August 23rd were issued a $0.17 dividend. The ex-dividend date of this dividend was Thursday, August 22nd. This represents a $0.68 dividend on an annualized basis and a yield of 1.27%. FLIR Systems’s payout ratio is 30.63%.
In other FLIR Systems news, VP Brian E. Harding sold 3,625 shares of FLIR Systems stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $52.48, for a total value of $190,240.00. Following the completion of the transaction, the vice president now owns 8,876 shares of the company’s stock, valued at $465,812.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 2.00% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp increased its stake in shares of FLIR Systems by 45.5% during the second quarter. Bank of New York Mellon Corp now owns 3,311,826 shares of the scientific and technical instruments company’s stock worth $179,171,000 after purchasing an additional 1,036,120 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of FLIR Systems by 336.1% during the second quarter. JPMorgan Chase & Co. now owns 1,331,599 shares of the scientific and technical instruments company’s stock worth $71,108,000 after purchasing an additional 1,026,228 shares in the last quarter. Nuveen Asset Management LLC purchased a new stake in shares of FLIR Systems during the second quarter worth about $36,628,000. Argent Capital Management LLC increased its stake in shares of FLIR Systems by 122.7% during the first quarter. Argent Capital Management LLC now owns 1,145,129 shares of the scientific and technical instruments company’s stock worth $54,485,000 after purchasing an additional 630,869 shares in the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. increased its stake in shares of FLIR Systems by 1,643.3% during the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 426,489 shares of the scientific and technical instruments company’s stock worth $23,073,000 after purchasing an additional 402,024 shares in the last quarter. 90.88% of the stock is owned by institutional investors.
About FLIR Systems
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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