Strs Ohio Sells 1,821 Shares of FLIR Systems, Inc. (FLIR)

Strs Ohio lessened its position in FLIR Systems, Inc. (NASDAQ:FLIR) by 19.0% in the first quarter, HoldingsChannel reports. The firm owned 7,766 shares of the scientific and technical instruments company’s stock after selling 1,821 shares during the quarter. Strs Ohio’s holdings in FLIR Systems were worth $369,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of FLIR. Norges Bank acquired a new position in FLIR Systems in the 4th quarter worth about $57,122,000. D. E. Shaw & Co. Inc. increased its holdings in FLIR Systems by 67.1% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 1,660,531 shares of the scientific and technical instruments company’s stock worth $72,300,000 after purchasing an additional 667,024 shares in the last quarter. King Luther Capital Management Corp increased its holdings in FLIR Systems by 72.6% in the 4th quarter. King Luther Capital Management Corp now owns 1,118,637 shares of the scientific and technical instruments company’s stock worth $48,705,000 after purchasing an additional 470,501 shares in the last quarter. Fenimore Asset Management Inc. increased its holdings in FLIR Systems by 29.1% in the 4th quarter. Fenimore Asset Management Inc. now owns 1,428,791 shares of the scientific and technical instruments company’s stock worth $62,210,000 after purchasing an additional 322,158 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its holdings in FLIR Systems by 9.5% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 3,382,669 shares of the scientific and technical instruments company’s stock worth $147,281,000 after purchasing an additional 292,141 shares in the last quarter. 91.74% of the stock is owned by institutional investors and hedge funds.

In related news, Director Earl R. Lewis sold 132,100 shares of the firm’s stock in a transaction that occurred on Tuesday, February 26th. The stock was sold at an average price of $52.11, for a total transaction of $6,883,731.00. Following the completion of the sale, the director now owns 635,487 shares of the company’s stock, valued at $33,115,227.57. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Todd M. Duchene sold 7,566 shares of the firm’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $50.61, for a total value of $382,915.26. Following the sale, the senior vice president now directly owns 28,070 shares of the company’s stock, valued at approximately $1,420,622.70. The disclosure for this sale can be found here. In the last three months, insiders sold 338,599 shares of company stock valued at $17,484,062. Insiders own 2.00% of the company’s stock.

Several brokerages have recently weighed in on FLIR. BidaskClub raised FLIR Systems from a “sell” rating to a “hold” rating in a research note on Wednesday, May 1st. Imperial Capital reissued an “in-line” rating and issued a $56.00 price target (up previously from $51.00) on shares of FLIR Systems in a research note on Wednesday, February 20th. They noted that the move was a valuation call. Zacks Investment Research raised FLIR Systems from a “sell” rating to a “hold” rating in a research note on Thursday, February 14th. SunTrust Banks increased their price target on FLIR Systems to $60.00 and gave the company a “buy” rating in a research note on Thursday, February 14th. They noted that the move was a valuation call. Finally, ValuEngine raised FLIR Systems from a “hold” rating to a “buy” rating in a research note on Wednesday, February 13th. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $62.29.

Shares of FLIR stock opened at $51.38 on Friday. The stock has a market capitalization of $7.01 billion, a PE ratio of 22.82 and a beta of 1.13. The company has a quick ratio of 1.61, a current ratio of 2.45 and a debt-to-equity ratio of 0.35. FLIR Systems, Inc. has a 1-year low of $40.52 and a 1-year 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 for the quarter, beating the consensus estimate of $0.48 by $0.05. The company had revenue of $444.70 million during the quarter, compared to analysts’ expectations of $440.98 million. FLIR Systems had a return on equity of 16.84% and a net margin of 17.13%. The business’s quarterly revenue was up 1.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.48 earnings per share. As a group, research analysts predict that FLIR Systems, Inc. will post 2.35 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Friday, May 24th will be paid a $0.17 dividend. The ex-dividend date of this dividend is Thursday, May 23rd. This represents a $0.68 annualized dividend and a dividend yield of 1.32%. FLIR Systems’s payout ratio is 30.63%.

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About FLIR Systems

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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