Strs Ohio lowered its holdings in FLIR Systems, Inc. (NASDAQ:FLIR) by 7.9% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 11,003 shares of the scientific and technical instruments company’s stock after selling 949 shares during the quarter. Strs Ohio’s holdings in FLIR Systems were worth $676,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in FLIR. Morgan Stanley lifted its holdings in FLIR Systems by 217.7% in the 2nd quarter. Morgan Stanley now owns 957,781 shares of the scientific and technical instruments company’s stock worth $49,776,000 after buying an additional 656,278 shares during the period. Argent Capital Management LLC lifted its holdings in FLIR Systems by 109.6% in the 2nd quarter. Argent Capital Management LLC now owns 1,230,485 shares of the scientific and technical instruments company’s stock worth $63,948,000 after buying an additional 643,290 shares during the period. Janus Henderson Group PLC lifted its holdings in FLIR Systems by 846.8% in the 2nd quarter. Janus Henderson Group PLC now owns 633,637 shares of the scientific and technical instruments company’s stock worth $32,930,000 after buying an additional 566,711 shares during the period. Artisan Partners Limited Partnership lifted its holdings in FLIR Systems by 23.1% in the 2nd quarter. Artisan Partners Limited Partnership now owns 2,101,834 shares of the scientific and technical instruments company’s stock worth $109,232,000 after buying an additional 394,412 shares during the period. Finally, Wells Fargo & Company MN lifted its holdings in FLIR Systems by 47.4% in the 2nd quarter. Wells Fargo & Company MN now owns 1,100,685 shares of the scientific and technical instruments company’s stock worth $57,202,000 after buying an additional 354,091 shares during the period. Institutional investors and hedge funds own 90.72% of the company’s stock.
In related news, VP Jeffrey Frank sold 42,912 shares of the firm’s stock in a transaction that occurred on Friday, September 7th. The stock was sold at an average price of $62.19, for a total transaction of $2,668,697.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Todd M. Duchene sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, September 17th. The shares were sold at an average price of $62.95, for a total value of $62,950.00. Following the transaction, the senior vice president now directly owns 38,453 shares of the company’s stock, valued at approximately $2,420,616.35. The disclosure for this sale can be found here. In the last 90 days, insiders sold 90,912 shares of company stock valued at $5,594,537. 2.00% of the stock is currently owned by company insiders.
FLIR Systems (NASDAQ:FLIR) last released its earnings results on Tuesday, October 30th. The scientific and technical instruments company reported $0.57 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.57. The company had revenue of $434.89 million during the quarter, compared to analysts’ expectations of $445.46 million. FLIR Systems had a return on equity of 16.74% and a net margin of 7.33%. The firm’s revenue for the quarter was down 6.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.52 EPS. As a group, research analysts expect that FLIR Systems, Inc. will post 2.21 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 7th. Stockholders of record on Friday, November 23rd will be paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.31%. The ex-dividend date is Wednesday, November 21st. FLIR Systems’s payout ratio is presently 34.04%.
FLIR has been the subject of several research analyst reports. William Blair upgraded FLIR Systems from a “market perform” rating to an “outperform” rating in a report on Monday, August 20th. BidaskClub cut FLIR Systems from a “buy” rating to a “hold” rating in a report on Thursday, September 20th. Imperial Capital reiterated an “outperform” rating and issued a $60.00 price objective (up previously from $53.00) on shares of FLIR Systems in a report on Wednesday, August 1st. Zacks Investment Research cut FLIR Systems from a “buy” rating to a “hold” rating in a report on Tuesday, July 24th. Finally, Needham & Company LLC increased their price objective on FLIR Systems from $60.00 to $62.00 and gave the stock a “buy” rating in a report on Thursday, July 26th. One analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $58.17.
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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