Fenimore Asset Management Inc. Increases Stake in FLIR Systems, Inc. (FLIR)
Fenimore Asset Management Inc. grew its holdings in FLIR Systems, Inc. (NASDAQ:FLIR) by 29.1% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 1,428,791 shares of the scientific and technical instruments company’s stock after buying an additional 322,158 shares during the quarter. FLIR Systems comprises approximately 2.5% of Fenimore Asset Management Inc.’s portfolio, making the stock its 11th largest holding. Fenimore Asset Management Inc.’s holdings in FLIR Systems were worth $62,210,000 as of its most recent SEC filing.
Several other large investors have also made changes to their positions in the company. State of Alaska Department of Revenue increased its position in FLIR Systems by 15.1% in the fourth quarter. State of Alaska Department of Revenue now owns 30,521 shares of the scientific and technical instruments company’s stock worth $1,328,000 after purchasing an additional 4,008 shares during the period. Cerebellum GP LLC increased its position in FLIR Systems by 102.4% in the fourth quarter. Cerebellum GP LLC now owns 6,091 shares of the scientific and technical instruments company’s stock worth $265,000 after purchasing an additional 3,082 shares during the period. Marshall Wace LLP acquired a new stake in FLIR Systems in the third quarter worth about $1,332,000. Vanguard Group Inc increased its position in FLIR Systems by 2.0% in the third quarter. Vanguard Group Inc now owns 14,826,308 shares of the scientific and technical instruments company’s stock worth $911,374,000 after purchasing an additional 290,026 shares during the period. Finally, Kepos Capital LP acquired a new stake in FLIR Systems in the third quarter worth about $1,158,000. Institutional investors own 90.83% of the company’s stock.
In other news, SVP Todd M. Duchene sold 1,000 shares of FLIR Systems stock in a transaction dated Monday, October 15th. The stock was sold at an average price of $55.63, for a total transaction of $55,630.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 2.00% of the company’s stock.
FLIR Systems (NASDAQ:FLIR) last released its quarterly earnings data on Tuesday, October 30th. The scientific and technical instruments company reported $0.57 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.57. FLIR Systems had a return on equity of 16.74% and a net margin of 7.33%. The business had revenue of $434.89 million for the quarter, compared to analysts’ expectations of $445.46 million. During the same quarter in the previous year, the business posted $0.52 EPS. FLIR Systems’s revenue for the quarter was down 6.4% on a year-over-year basis. As a group, equities analysts forecast that FLIR Systems, Inc. will post 2.21 EPS for the current year.
A number of brokerages have issued reports on FLIR. Raymond James restated a “strong-buy” rating and set a $70.00 target price on shares of FLIR Systems in a report on Friday. BidaskClub cut FLIR Systems from a “hold” rating to a “sell” rating in a report on Wednesday. Zacks Investment Research restated a “sell” rating on shares of FLIR Systems in a report on Tuesday, November 13th. Needham & Company LLC reduced their target price on FLIR Systems from $62.00 to $60.00 and set a “buy” rating on the stock in a report on Thursday, November 1st. Finally, Imperial Capital reduced their target price on FLIR Systems from $60.00 to $51.00 and set an “in-line” rating on the stock in a report on Thursday, November 1st. They noted that the move was a valuation call. Two research analysts have rated the stock with a sell rating, three have given a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $62.67.
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About FLIR Systems
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.
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