Otter Creek Advisors LLC Increases Holdings in FLIR Systems, Inc. (FLIR)

Otter Creek Advisors LLC grew its position in shares of FLIR Systems, Inc. (NASDAQ:FLIR) by 3.7% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 260,345 shares of the scientific and technical instruments company’s stock after buying an additional 9,296 shares during the quarter. FLIR Systems accounts for 2.7% of Otter Creek Advisors LLC’s investment portfolio, making the stock its 3rd largest holding. Otter Creek Advisors LLC owned 0.19% of FLIR Systems worth $13,020,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in FLIR. BlackRock Inc. boosted its stake in shares of FLIR Systems by 2.8% during the 4th quarter. BlackRock Inc. now owns 9,950,564 shares of the scientific and technical instruments company’s stock worth $463,895,000 after purchasing an additional 274,312 shares during the last quarter. Atlanta Capital Management Co. L L C boosted its stake in shares of FLIR Systems by 10.4% during the 1st quarter. Atlanta Capital Management Co. L L C now owns 4,131,454 shares of the scientific and technical instruments company’s stock worth $206,614,000 after purchasing an additional 388,482 shares during the last quarter. Lord Abbett & CO. LLC boosted its stake in shares of FLIR Systems by 6.2% during the 1st quarter. Lord Abbett & CO. LLC now owns 2,767,045 shares of the scientific and technical instruments company’s stock worth $138,380,000 after purchasing an additional 162,721 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of FLIR Systems by 554.9% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 2,428,662 shares of the scientific and technical instruments company’s stock worth $121,458,000 after purchasing an additional 2,057,823 shares during the last quarter. Finally, Millennium Management LLC boosted its stake in shares of FLIR Systems by 165.4% during the 4th quarter. Millennium Management LLC now owns 2,230,146 shares of the scientific and technical instruments company’s stock worth $103,969,000 after purchasing an additional 1,389,832 shares during the last quarter. Institutional investors and hedge funds own 93.26% of the company’s stock.

Several research firms recently issued reports on FLIR. Zacks Investment Research raised shares of FLIR Systems from a “hold” rating to a “buy” rating and set a $61.00 target price on the stock in a research report on Monday, May 21st. Needham & Company LLC raised their target price on shares of FLIR Systems from $58.00 to $60.00 and gave the stock a “buy” rating in a research report on Thursday, May 17th. Drexel Hamilton lowered shares of FLIR Systems from a “buy” rating to a “hold” rating in a report on Monday, May 7th. William Blair initiated coverage on shares of FLIR Systems in a report on Friday, May 18th. They issued a “hold” rating on the stock. Finally, BidaskClub lowered shares of FLIR Systems from a “strong-buy” rating to a “buy” rating in a report on Wednesday. Four research analysts have rated the stock with a hold rating, six have given a buy rating and two have issued a strong buy rating to the company’s stock. FLIR Systems currently has a consensus rating of “Buy” and an average price target of $52.86.

In other news, Director Angus L. Macdonald sold 22,368 shares of FLIR Systems stock in a transaction that occurred on Friday, May 4th. The shares were sold at an average price of $54.09, for a total transaction of $1,209,885.12. Following the sale, the director now owns 21,745 shares in the company, valued at $1,176,187.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Steven E. Wynne sold 13,600 shares of FLIR Systems stock in a transaction that occurred on Friday, June 1st. The shares were sold at an average price of $54.68, for a total transaction of $743,648.00. Following the sale, the director now owns 37,610 shares in the company, valued at approximately $2,056,514.80. The disclosure for this sale can be found here. Insiders have sold 65,626 shares of company stock worth $3,566,256 in the last quarter. Insiders own 2.00% of the company’s stock.

NASDAQ FLIR opened at $54.47 on Thursday. FLIR Systems, Inc. has a one year low of $33.95 and a one year high of $55.72. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.72 and a current ratio of 3.91. The company has a market capitalization of $7.52 billion, a P/E ratio of 28.97 and a beta of 0.69.

FLIR Systems (NASDAQ:FLIR) last posted its quarterly earnings results on Wednesday, April 25th. The scientific and technical instruments company reported $0.48 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.42 by $0.06. The firm had revenue of $439.60 million for the quarter, compared to analyst estimates of $397.84 million. FLIR Systems had a net margin of 5.66% and a return on equity of 15.43%. FLIR Systems’s revenue for the quarter was up 8.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.36 earnings per share. equities research analysts predict that FLIR Systems, Inc. will post 2.16 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 8th. Stockholders of record on Friday, May 25th were paid a dividend of $0.16 per share. The ex-dividend date was Thursday, May 24th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.17%. FLIR Systems’s dividend payout ratio is currently 34.04%.

FLIR Systems Company 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.

Want to see what other hedge funds are holding FLIR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for FLIR Systems, Inc. (NASDAQ:FLIR).

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

Receive News & Ratings for FLIR Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FLIR Systems and related companies with MarketBeat.com's FREE daily email newsletter.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit