Hilton Capital Management LLC Takes $92,000 Position in FLIR Systems, Inc. (NASDAQ:FLIR)

Hilton Capital Management LLC purchased a new stake in FLIR Systems, Inc. (NASDAQ:FLIR) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 1,935 shares of the scientific and technical instruments company’s stock, valued at approximately $92,000.

Other hedge funds also recently bought and sold shares of the company. Norges Bank acquired a new position in shares of FLIR Systems in the fourth quarter valued at approximately $57,122,000. D. E. Shaw & Co. Inc. increased its stake in shares of FLIR Systems by 67.1% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 1,660,531 shares of the scientific and technical instruments company’s stock valued at $72,300,000 after buying an additional 667,024 shares during the period. Argent Capital Management LLC increased its stake in shares of FLIR Systems by 122.7% in the first quarter. Argent Capital Management LLC now owns 1,145,129 shares of the scientific and technical instruments company’s stock valued at $54,485,000 after buying an additional 630,869 shares during the period. King Luther Capital Management Corp increased its stake in shares of FLIR Systems by 72.6% in the fourth quarter. King Luther Capital Management Corp now owns 1,118,637 shares of the scientific and technical instruments company’s stock valued at $48,705,000 after buying an additional 470,501 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its stake in shares of FLIR Systems by 9.5% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 3,382,669 shares of the scientific and technical instruments company’s stock valued at $147,281,000 after buying an additional 292,141 shares during the period. 90.44% of the stock is owned by institutional investors and hedge funds.

Shares of FLIR traded down $0.23 during trading hours on Friday, reaching $54.51. The stock had a trading volume of 344,971 shares, compared to its average volume of 672,036. FLIR Systems, Inc. has a 12 month low of $40.52 and a 12 month high of $63.88. The stock’s 50-day moving average is $51.30. 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 firm has a market cap of $7.38 billion, a P/E ratio of 24.55 and a beta of 1.18.

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

The business also recently declared a quarterly dividend, which was paid on Friday, June 7th. Investors of record on Friday, May 24th were given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 1.25%. The ex-dividend date of this dividend was Thursday, May 23rd. FLIR Systems’s payout ratio is currently 30.63%.

Several analysts recently commented on the company. ValuEngine upgraded FLIR Systems from a “hold” rating to a “buy” rating in a report on Tuesday, July 2nd. BidaskClub upgraded FLIR Systems from a “hold” rating to a “buy” rating in a report on Saturday, June 22nd. Raymond James cut FLIR Systems from a “strong-buy” rating to an “outperform” rating in a report on Monday, March 18th. Finally, Imperial Capital upgraded FLIR Systems from an “in-line” rating to an “outperform” rating and upped their target price for the company from $56.00 to $57.00 in a report on Wednesday, May 22nd. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $62.43.

In other news, VP Jeffrey Frank sold 21,705 shares of the firm’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $51.62, for a total transaction of $1,120,412.10. Following the completion of the sale, the vice president now directly owns 47,344 shares of the company’s stock, valued at approximately $2,443,897.28. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Steven E. Wynne sold 10,000 shares of the firm’s stock in a transaction on Monday, April 29th. The shares were sold at an average price of $52.53, for a total value of $525,300.00. Following the sale, the director now directly owns 484,031 shares of the company’s stock, valued at $25,426,148.43. The disclosure for this sale can be found here. Insiders sold a total of 65,121 shares of company stock valued at $3,358,586 over the last three months. 2.00% of the stock is currently owned by insiders.

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

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