JPMorgan Chase & Co. Purchases 92,939 Shares of FLIR Systems, Inc. (NASDAQ:FLIR)

JPMorgan Chase & Co. grew its holdings in FLIR Systems, Inc. (NASDAQ:FLIR) by 43.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 305,371 shares of the scientific and technical instruments company’s stock after purchasing an additional 92,939 shares during the period. JPMorgan Chase & Co. owned approximately 0.23% of FLIR Systems worth $14,529,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Greenwood Capital Associates LLC boosted its stake in shares of FLIR Systems by 2.1% in the 1st quarter. Greenwood Capital Associates LLC now owns 9,556 shares of the scientific and technical instruments company’s stock valued at $455,000 after purchasing an additional 197 shares in the last quarter. Bessemer Group Inc. boosted its position in FLIR Systems by 18.2% during the 4th quarter. Bessemer Group Inc. now owns 1,454 shares of the scientific and technical instruments company’s stock valued at $63,000 after buying an additional 224 shares during the period. Metropolitan Life Insurance Co. NY boosted its position in FLIR Systems by 1.1% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 20,633 shares of the scientific and technical instruments company’s stock valued at $898,000 after buying an additional 224 shares during the period. Cardinal Capital Management boosted its position in FLIR Systems by 1.3% during the 1st quarter. Cardinal Capital Management now owns 17,117 shares of the scientific and technical instruments company’s stock valued at $814,000 after buying an additional 228 shares during the period. Finally, Independent Advisor Alliance boosted its position in FLIR Systems by 3.1% during the 1st quarter. Independent Advisor Alliance now owns 9,850 shares of the scientific and technical instruments company’s stock valued at $469,000 after buying an additional 300 shares during the period. 90.44% of the stock is currently owned by institutional investors.

Shares of FLIR Systems stock traded up $0.70 during trading on Friday, hitting $54.10. The company’s stock had a trading volume of 684,187 shares, compared to its average volume of 902,169. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.45 and a quick ratio of 1.61. The business’s fifty day moving average price is $50.72. The firm has a market capitalization of $7.33 billion, a P/E ratio of 24.37 and a beta of 1.14. FLIR Systems, Inc. has a 52 week low of $40.52 and a 52 week high of $63.88.

FLIR Systems (NASDAQ:FLIR) last issued its quarterly earnings results on Wednesday, April 24th. The scientific and technical instruments company reported $0.53 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.48 by $0.05. The company had revenue of $444.70 million during the quarter, compared to analyst estimates of $440.98 million. FLIR Systems had a net margin of 17.13% and a return on equity of 16.84%. FLIR Systems’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same period last year, the business earned $0.48 EPS. As a group, equities research analysts anticipate that FLIR Systems, Inc. will post 2.37 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 7th. Shareholders of record on Friday, May 24th were paid a dividend of $0.17 per share. The ex-dividend date was Thursday, May 23rd. This represents a $0.68 dividend on an annualized basis and a yield of 1.26%. FLIR Systems’s dividend payout ratio is currently 30.63%.

FLIR has been the subject of several analyst reports. BidaskClub raised shares of FLIR Systems from a “sell” rating to a “hold” rating in a research report on Wednesday, May 1st. Raymond James cut shares of FLIR Systems from a “strong-buy” rating to an “outperform” rating in a research report on Monday, March 18th. Imperial Capital raised shares of FLIR Systems from an “in-line” rating to an “outperform” rating and increased their price target for the company from $56.00 to $57.00 in a research report on Wednesday, May 22nd. Finally, ValuEngine cut shares of FLIR Systems from a “buy” rating to a “hold” rating in a research report on Friday, March 1st. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $62.43.

In other FLIR Systems news, Director Earl R. Lewis sold 23,116 shares of the firm’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $51.33, for a total transaction of $1,186,544.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Jeffrey Frank sold 21,705 shares of the firm’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $51.62, for a total transaction of $1,120,412.10. Following the sale, the vice president now owns 47,344 shares of the company’s stock, valued at $2,443,897.28. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 65,121 shares of company stock valued at $3,358,586. 2.00% of the stock is owned by company insiders.

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

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