Municipal Employees Retirement System of Michigan maintained its stake in shares of FLIR Systems, Inc. (NASDAQ:FLIR) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,360 shares of the scientific and technical instruments company’s stock at the end of the first quarter. Municipal Employees Retirement System of Michigan’s holdings in FLIR Systems were worth $158,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. Cribstone Capital Management LLC acquired a new stake in shares of FLIR Systems during the first quarter worth approximately $106,000. TrimTabs Asset Management LLC acquired a new stake in shares of FLIR Systems during the first quarter worth approximately $112,000. FTB Advisors Inc. acquired a new stake in shares of FLIR Systems during the first quarter worth approximately $130,000. Mn Services Vermogensbeheer B.V. raised its stake in shares of FLIR Systems by 4.7% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 3,638 shares of the scientific and technical instruments company’s stock worth $123,000 after buying an additional 163 shares during the period. Finally, Daiwa Securities Group Inc. raised its stake in shares of FLIR Systems by 21.9% in the first quarter. Daiwa Securities Group Inc. now owns 3,900 shares of the scientific and technical instruments company’s stock worth $141,000 after buying an additional 700 shares during the period. Institutional investors and hedge funds own 90.55% of the company’s stock.
Shares of FLIR Systems, Inc. (NASDAQ FLIR) traded up 0.29% during trading on Tuesday, hitting $37.71. The stock had a trading volume of 718,965 shares. FLIR Systems, Inc. has a 1-year low of $28.26 and a 1-year high of $38.95. The stock’s 50-day moving average price is $36.48 and its 200 day moving average price is $36.42. The firm has a market capitalization of $5.17 billion, a P/E ratio of 24.31 and a beta of 0.59.
FLIR Systems (NASDAQ:FLIR) last announced its quarterly earnings data on Wednesday, July 26th. The scientific and technical instruments company reported $0.42 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.41 by $0.01. The business had revenue of $434.12 million during the quarter, compared to the consensus estimate of $437.32 million. FLIR Systems had a net margin of 12.44% and a return on equity of 13.97%. The firm’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.37 earnings per share. On average, analysts anticipate that FLIR Systems, Inc. will post $1.85 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 8th. Shareholders of record on Friday, August 25th will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 1.59%. The ex-dividend date is Wednesday, August 23rd. FLIR Systems’s payout ratio is currently 38.46%.
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A number of analysts recently commented on the company. BidaskClub lowered FLIR Systems from a “hold” rating to a “sell” rating in a report on Monday, July 31st. Zacks Investment Research upgraded FLIR Systems from a “hold” rating to a “buy” rating and set a $43.00 price target on the stock in a report on Thursday, July 27th. UBS AG upgraded FLIR Systems from a “market perform” rating to a “strong-buy” rating in a report on Monday, July 10th. Stephens assumed coverage on FLIR Systems in a research note on Friday, July 7th. They issued an “overweight” rating on the stock. Finally, Raymond James Financial, Inc. upgraded FLIR Systems from a “market perform” rating to a “strong-buy” rating and set a $43.00 target price on the stock in a research note on Monday, July 10th. One research analyst has rated the stock with a sell rating, four have given a hold rating, four have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $38.13.
In other FLIR Systems news, Director Earl R. Lewis sold 15,000 shares of the firm’s stock in a transaction dated Friday, May 12th. The shares were sold at an average price of $37.26, for a total value of $558,900.00. Following the completion of the sale, the director now owns 551,234 shares of the company’s stock, valued at $20,538,978.84. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Earl R. Lewis sold 11,587 shares of FLIR Systems stock in a transaction that occurred on Monday, July 31st. The shares were sold at an average price of $37.27, for a total transaction of $431,847.49. The disclosure for this sale can be found here. In the last three months, insiders sold 79,358 shares of company stock valued at $2,908,123. 3.00% of the stock is owned by insiders.
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.
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