Garcia Hamilton & Associates LP DE Decreases Position in FLIR Systems, Inc. (FLIR)

Garcia Hamilton & Associates LP DE reduced its stake in FLIR Systems, Inc. (NASDAQ:FLIR) by 33.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,469 shares of the scientific and technical instruments company’s stock after selling 7,768 shares during the period. Garcia Hamilton & Associates LP DE’s holdings in FLIR Systems were worth $536,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in FLIR Systems by 2.1% in the second quarter. Vanguard Group Inc. now owns 13,611,660 shares of the scientific and technical instruments company’s stock worth $471,779,000 after buying an additional 285,535 shares in the last quarter. BlackRock Inc. raised its stake in FLIR Systems by 6.6% in the second quarter. BlackRock Inc. now owns 9,366,367 shares of the scientific and technical instruments company’s stock worth $324,639,000 after buying an additional 576,951 shares in the last quarter. State Street Corp raised its stake in FLIR Systems by 1.4% in the first quarter. State Street Corp now owns 5,459,779 shares of the scientific and technical instruments company’s stock worth $198,084,000 after buying an additional 73,938 shares in the last quarter. Cramer Rosenthal Mcglynn LLC raised its stake in FLIR Systems by 153.9% in the second quarter. Cramer Rosenthal Mcglynn LLC now owns 3,038,846 shares of the scientific and technical instruments company’s stock worth $105,326,000 after buying an additional 1,841,965 shares in the last quarter. Finally, Earnest Partners LLC raised its stake in FLIR Systems by 4.4% in the second quarter. Earnest Partners LLC now owns 2,128,673 shares of the scientific and technical instruments company’s stock worth $73,780,000 after buying an additional 90,335 shares in the last quarter. 90.73% of the stock is owned by institutional investors.

Shares of FLIR Systems, Inc. (NASDAQ:FLIR) traded up 0.52% during trading on Thursday, hitting $42.80. 971,863 shares of the company’s stock were exchanged. The firm has a 50-day moving average price of $39.33 and a 200-day moving average price of $37.39. FLIR Systems, Inc. has a one year low of $28.26 and a one year high of $43.00. The stock has a market cap of $5.87 billion, a P/E ratio of 27.60 and a beta of 0.60.

FLIR Systems (NASDAQ:FLIR) last announced its quarterly earnings results on Wednesday, July 26th. The scientific and technical instruments company reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.01. FLIR Systems had a net margin of 12.44% and a return on equity of 13.97%. The firm had revenue of $434.12 million during the quarter, compared to analysts’ expectations of $437.32 million. During the same quarter in the prior year, the company earned $0.37 EPS. The company’s revenue was up 7.8% compared to the same quarter last year. Equities research analysts expect that FLIR Systems, Inc. will post $1.85 EPS for the current fiscal year.

FLIR has been the subject of a number of research reports. Needham & Company LLC increased their price target on shares of FLIR Systems from $40.00 to $42.00 and gave the stock a “buy” rating in a research note on Wednesday, September 6th. Zacks Investment Research raised shares of FLIR Systems from a “hold” rating to a “buy” rating and set a $43.00 price target for the company in a research note on Thursday, July 27th. BidaskClub raised shares of FLIR Systems from a “sell” rating to a “hold” rating in a research note on Monday, July 17th. Stephens initiated coverage on shares of FLIR Systems in a research note on Friday, July 7th. They issued an “overweight” rating for the company. Finally, Raymond James Financial, Inc. raised shares of FLIR Systems from a “market perform” rating to a “strong-buy” rating and set a $43.00 price target for the company in a research note on Monday, July 10th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, two have issued a buy rating and two have given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $39.17.

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In other news, Director Earl R. Lewis sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 16th. The shares were sold at an average price of $38.22, for a total value of $764,400.00. Following the completion of the sale, the director now owns 509,379 shares of the company’s stock, valued at approximately $19,468,465.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Thomas A. Surran sold 261,320 shares of the company’s stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $38.25, for a total transaction of $9,995,490.00. The disclosure for this sale can be found here. Insiders sold a total of 292,907 shares of company stock valued at $11,191,737 in the last ninety days. Corporate insiders own 3.00% of the company’s stock.

FLIR Systems Company Profile

FLIR Systems, Inc (FLIR) designs, develops, markets and distributes thermal imaging systems, visible-light imaging systems, locater systems, measurement and diagnostic systems and threat-detection solutions. The Company’s segments include Surveillance, Instruments, Security, OEM & Emerging Markets, Maritime and Detection.

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

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