Sicart Associates LLC Acquires New Position in FLIR Systems, Inc. (NASDAQ:FLIR)

Sicart Associates LLC acquired a new stake in FLIR Systems, Inc. (NASDAQ:FLIR) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 11,200 shares of the scientific and technical instruments company’s stock, valued at approximately $589,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Strs Ohio lifted its stake in shares of FLIR Systems by 3,060.1% in the third quarter. Strs Ohio now owns 232,582 shares of the scientific and technical instruments company’s stock valued at $12,231,000 after purchasing an additional 225,222 shares during the period. Stephens Investment Management Group LLC lifted its stake in shares of FLIR Systems by 12.9% in the third quarter. Stephens Investment Management Group LLC now owns 1,433,690 shares of the scientific and technical instruments company’s stock valued at $75,398,000 after purchasing an additional 163,914 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of FLIR Systems by 49.5% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 188,350 shares of the scientific and technical instruments company’s stock valued at $9,905,000 after purchasing an additional 62,403 shares during the period. First Citizens Bank & Trust Co. lifted its stake in shares of FLIR Systems by 13.8% in the third quarter. First Citizens Bank & Trust Co. now owns 16,793 shares of the scientific and technical instruments company’s stock valued at $883,000 after purchasing an additional 2,032 shares during the period. Finally, Envestnet Asset Management Inc. lifted its stake in shares of FLIR Systems by 15.6% in the third quarter. Envestnet Asset Management Inc. now owns 90,837 shares of the scientific and technical instruments company’s stock valued at $4,777,000 after purchasing an additional 12,232 shares during the period. Hedge funds and other institutional investors own 90.89% of the company’s stock.

FLIR traded up $0.52 during midday trading on Monday, reaching $53.41. 69,026 shares of the company’s stock were exchanged, compared to its average volume of 696,020. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.47 and a quick ratio of 1.61. The stock has a market capitalization of $7.20 billion, a PE ratio of 24.06 and a beta of 1.16. The business’s 50-day moving average price is $52.05 and its 200 day moving average price is $51.01. FLIR Systems, Inc. has a 1-year low of $40.52 and a 1-year high of $57.52.

FLIR Systems (NASDAQ:FLIR) last announced its earnings results on Wednesday, July 24th. The scientific and technical instruments company reported $0.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.55 by $0.01. The company had revenue of $482.00 million during the quarter, compared to analysts’ expectations of $478.42 million. FLIR Systems had a net margin of 15.44% and a return on equity of 16.56%. The firm’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.55 earnings per share. As a group, analysts expect that FLIR Systems, Inc. will post 2.34 EPS for the current fiscal year.

Several analysts recently commented on FLIR shares. BidaskClub cut shares of FLIR Systems from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, October 1st. ValuEngine cut shares of FLIR Systems from a “buy” rating to a “hold” rating in a research report on Wednesday, July 24th. Finally, Berenberg Bank initiated coverage on shares of FLIR Systems in a research report on Friday, September 6th. They set a “buy” rating and a $60.00 target price for the company. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. FLIR Systems currently has an average rating of “Buy” and a consensus target price of $60.40.

In other FLIR Systems news, VP Brian E. Harding sold 3,625 shares of FLIR Systems stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $52.48, for a total transaction of $190,240.00. Following the completion of the transaction, the vice president now owns 8,876 shares in the company, valued at $465,812.48. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 2.00% of the company’s stock.

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

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