Fenimore Asset Management Inc. reduced its holdings in shares of FLIR Systems, Inc. (NASDAQ:FLIR) by 0.3% during the third quarter, HoldingsChannel reports. The firm owned 1,106,633 shares of the scientific and technical instruments company’s stock after selling 3,574 shares during the period. FLIR Systems comprises 2.4% of Fenimore Asset Management Inc.’s portfolio, making the stock its 15th biggest holding. Fenimore Asset Management Inc.’s holdings in FLIR Systems were worth $68,025,000 at the end of the most recent reporting period.
Several other large investors have also made changes to their positions in the company. Vident Investment Advisory LLC increased its position in FLIR Systems by 51.6% during the second quarter. Vident Investment Advisory LLC now owns 725,192 shares of the scientific and technical instruments company’s stock valued at $37,689,000 after acquiring an additional 246,978 shares during the last quarter. Aureus Asset Management LLC increased its position in FLIR Systems by 42.4% during the second quarter. Aureus Asset Management LLC now owns 5,694 shares of the scientific and technical instruments company’s stock valued at $296,000 after acquiring an additional 1,694 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its position in FLIR Systems by 53.8% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 93,474 shares of the scientific and technical instruments company’s stock valued at $4,858,000 after acquiring an additional 32,689 shares during the last quarter. Stevens Capital Management LP purchased a new stake in FLIR Systems during the second quarter valued at $2,440,000. Finally, Sterling Capital Management LLC increased its position in FLIR Systems by 27.0% during the second quarter. Sterling Capital Management LLC now owns 52,468 shares of the scientific and technical instruments company’s stock valued at $2,727,000 after acquiring an additional 11,151 shares during the last quarter. 90.58% of the stock is currently owned by hedge funds and other institutional investors.
FLIR traded down $0.57 during midday trading on Thursday, reaching $56.81. The company had a trading volume of 19,055 shares, compared to its average volume of 947,536. The company has a quick ratio of 2.85, a current ratio of 4.07 and a debt-to-equity ratio of 0.23. The stock has a market cap of $8.48 billion, a price-to-earnings ratio of 30.40 and a beta of 0.68. FLIR Systems, Inc. has a 1 year low of $42.50 and a 1 year high of $63.88.
In related news, Director Earl R. Lewis sold 25,000 shares of the stock in a transaction dated Friday, August 17th. The stock was sold at an average price of $60.09, for a total transaction of $1,502,250.00. Following the completion of the sale, the director now owns 538,387 shares in the company, valued at $32,351,674.83. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Todd M. Duchene sold 1,000 shares of the stock in a transaction dated Monday, September 17th. The stock was sold at an average price of $62.95, for a total value of $62,950.00. Following the sale, the senior vice president now owns 38,453 shares of the company’s stock, valued at approximately $2,420,616.35. The disclosure for this sale can be found here. In the last 90 days, insiders sold 130,420 shares of company stock valued at $7,927,485. Company insiders own 2.00% of the company’s stock.
A number of analysts recently commented on the company. BidaskClub upgraded FLIR Systems from a “hold” rating to a “buy” rating in a research report on Saturday, September 1st. William Blair upgraded FLIR Systems from a “market perform” rating to an “outperform” rating in a research report on Monday, August 20th. Stephens upped their price objective on FLIR Systems from $61.00 to $69.00 and gave the company an “overweight” rating in a research report on Monday, July 30th. Imperial Capital reiterated an “outperform” rating and set a $60.00 price objective (up previously from $53.00) on shares of FLIR Systems in a research report on Wednesday, August 1st. Finally, Needham & Company LLC upped their price objective on FLIR Systems from $60.00 to $62.00 and gave the company a “buy” rating in a research report on Thursday, July 26th. Four equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $56.75.
FLIR Systems 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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