State Treasurer State of Michigan Sells 1,000 Shares of FLIR Systems, Inc. (FLIR)

State Treasurer State of Michigan lowered its holdings in shares of FLIR Systems, Inc. (NASDAQ:FLIR) by 2.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 40,585 shares of the scientific and technical instruments company’s stock after selling 1,000 shares during the period. State Treasurer State of Michigan’s holdings in FLIR Systems were worth $1,892,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the stock. Howe & Rusling Inc. bought a new stake in FLIR Systems in the 3rd quarter worth $261,000. Cardinal Capital Management grew its holdings in FLIR Systems by 10.0% in the 3rd quarter. Cardinal Capital Management now owns 16,653 shares of the scientific and technical instruments company’s stock worth $647,000 after acquiring an additional 1,510 shares during the last quarter. Asset Management One Co. Ltd. grew its holdings in FLIR Systems by 31.7% in the 3rd quarter. Asset Management One Co. Ltd. now owns 273,830 shares of the scientific and technical instruments company’s stock worth $10,662,000 after acquiring an additional 65,957 shares during the last quarter. Grandfield & Dodd LLC bought a new stake in FLIR Systems in the 3rd quarter worth $1,357,000. Finally, APG Asset Management N.V. grew its holdings in FLIR Systems by 58.5% in the 3rd quarter. APG Asset Management N.V. now owns 169,868 shares of the scientific and technical instruments company’s stock worth $6,610,000 after acquiring an additional 62,700 shares during the last quarter. 91.63% of the stock is currently owned by institutional investors.

Shares of FLIR Systems, Inc. (NASDAQ:FLIR) opened at $48.21 on Wednesday. FLIR Systems, Inc. has a 12-month low of $33.75 and a 12-month high of $52.88. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.48 and a quick ratio of 2.36. The company has a market cap of $6,607.22, a PE ratio of 30.32 and a beta of 0.66.

FLIR Systems (NASDAQ:FLIR) last posted its earnings results on Wednesday, February 14th. The scientific and technical instruments company reported $0.58 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.55 by $0.03. FLIR Systems had a net margin of 12.30% and a return on equity of 14.30%. The firm had revenue of $494.80 million during the quarter, compared to analysts’ expectations of $501.44 million. During the same period last year, the company posted $0.48 EPS. The company’s quarterly revenue was up 4.2% compared to the same quarter last year. research analysts predict that FLIR Systems, Inc. will post 1.86 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, March 9th. Stockholders of record on Friday, February 23rd will be given a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 1.33%. This is a boost from FLIR Systems’s previous quarterly dividend of $0.15. FLIR Systems’s dividend payout ratio (DPR) is currently 37.74%.

FLIR has been the topic of a number of recent analyst reports. Zacks Investment Research lowered shares of FLIR Systems from a “buy” rating to a “hold” rating in a report on Thursday, November 16th. SunTrust Banks raised shares of FLIR Systems from a “hold” rating to a “buy” rating and set a $43.00 price target on the stock in a report on Monday, January 8th. BidaskClub raised shares of FLIR Systems from a “hold” rating to a “buy” rating in a report on Saturday, January 20th. ValuEngine lowered shares of FLIR Systems from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Finally, Needham & Company LLC reissued a “buy” rating and issued a $50.00 price target (up previously from $42.00) on shares of FLIR Systems in a report on Thursday, October 26th. Five analysts have rated the stock with a hold rating, three have issued a buy rating and two have issued a strong buy rating to the company. FLIR Systems has an average rating of “Buy” and a consensus price target of $46.83.

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About FLIR Systems

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

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