New York State Teachers Retirement System lowered its holdings in shares of FLIR Systems, Inc. (NASDAQ:FLIR) by 4.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 195,487 shares of the scientific and technical instruments company’s stock after selling 8,179 shares during the quarter. New York State Teachers Retirement System owned approximately 0.14% of FLIR Systems worth $9,301,000 at the end of the most recent reporting period.
Other large investors have also added to or reduced their stakes in the company. Osborn Williams & Donohoe LLC acquired a new position in FLIR Systems in the 1st quarter worth $39,000. CSat Investment Advisory L.P. lifted its holdings in FLIR Systems by 147.2% in the 4th quarter. CSat Investment Advisory L.P. now owns 964 shares of the scientific and technical instruments company’s stock worth $42,000 after buying an additional 574 shares in the last quarter. Truvestments Capital LLC acquired a new position in FLIR Systems in the 1st quarter worth $59,000. Bessemer Group Inc. lifted its holdings in FLIR Systems by 18.2% in the 4th quarter. Bessemer Group Inc. now owns 1,454 shares of the scientific and technical instruments company’s stock worth $63,000 after buying an additional 224 shares in the last quarter. Finally, Quadrant Capital Group LLC increased its position in shares of FLIR Systems by 340.6% in the 1st quarter. Quadrant Capital Group LLC now owns 1,542 shares of the scientific and technical instruments company’s stock worth $69,000 after purchasing an additional 1,192 shares during the last quarter. Hedge funds and other institutional investors own 90.47% of the company’s stock.
FLIR Systems stock traded down $0.81 during midday trading on Friday, hitting $51.12. 435,078 shares of the stock were exchanged, compared to its average volume of 909,329. FLIR Systems, Inc. has a 52 week low of $40.52 and a 52 week high of $63.88. The firm has a market capitalization of $6.97 billion, a price-to-earnings ratio of 23.03 and a beta of 1.14. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.45 and a quick ratio of 1.61.
FLIR Systems (NASDAQ:FLIR) last released its quarterly earnings data on Wednesday, April 24th. The scientific and technical instruments company reported $0.53 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.05. FLIR Systems had a net margin of 17.13% and a return on equity of 16.84%. The business had revenue of $444.70 million for the quarter, compared to analyst estimates of $440.98 million. During the same quarter last year, the firm earned $0.48 EPS. FLIR Systems’s quarterly revenue was up 1.2% compared to the same quarter last year. As a group, analysts predict that FLIR Systems, Inc. will post 2.37 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, June 7th. Shareholders of record on Friday, May 24th were paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 1.33%. The ex-dividend date of this dividend was Thursday, May 23rd. FLIR Systems’s payout ratio is currently 30.63%.
FLIR has been the subject of a number of research analyst reports. BidaskClub raised shares of FLIR Systems from a “sell” rating to a “hold” rating in a research note on Thursday, May 30th. Zacks Investment Research upgraded shares of FLIR Systems from a “sell” rating to a “hold” rating in a research report on Thursday, February 14th. Raymond James lowered shares of FLIR Systems from a “strong-buy” rating to an “outperform” rating in a research note on Monday, March 18th. ValuEngine lowered shares of FLIR Systems from a “buy” rating to a “hold” rating in a research note on Friday, March 1st. Finally, Imperial Capital raised shares of FLIR Systems from an “in-line” rating to an “outperform” rating and upped their price objective for the stock from $56.00 to $57.00 in a report on Wednesday, May 22nd. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $62.43.
In other news, Director Earl R. Lewis sold 23,116 shares of the business’s stock in a transaction on Friday, April 26th. The shares were sold at an average price of $51.33, for a total value of $1,186,544.28. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Jeffrey Frank sold 21,705 shares of the business’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $51.62, for a total transaction of $1,120,412.10. Following the completion of the sale, the vice president now directly owns 47,344 shares in the company, valued at approximately $2,443,897.28. The disclosure for this sale can be found here. In the last ninety days, insiders sold 65,121 shares of company stock worth $3,358,586. Insiders own 2.00% of the company’s stock.
FLIR Systems Company Profile
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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