California Public Employees Retirement System reduced its stake in shares of FLIR Systems, Inc. (NASDAQ:FLIR) by 7.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 343,000 shares of the scientific and technical instruments company’s stock after selling 26,800 shares during the period. California Public Employees Retirement System’s holdings in FLIR Systems were worth $12,444,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. TIAA CREF Investment Management LLC increased its stake in shares of FLIR Systems by 5.2% in the first quarter. TIAA CREF Investment Management LLC now owns 558,679 shares of the scientific and technical instruments company’s stock valued at $20,269,000 after buying an additional 27,751 shares in the last quarter. Teachers Advisors LLC increased its stake in shares of FLIR Systems by 32.0% in the first quarter. Teachers Advisors LLC now owns 223,789 shares of the scientific and technical instruments company’s stock valued at $8,119,000 after buying an additional 54,209 shares in the last quarter. Advantus Capital Management Inc increased its stake in shares of FLIR Systems by 1.0% in the first quarter. Advantus Capital Management Inc now owns 13,584 shares of the scientific and technical instruments company’s stock valued at $493,000 after buying an additional 128 shares in the last quarter. Wellington Management Group LLP bought a new stake in shares of FLIR Systems during the first quarter valued at $248,000. Finally, Principal Financial Group Inc. increased its stake in shares of FLIR Systems by 0.9% in the first quarter. Principal Financial Group Inc. now owns 210,691 shares of the scientific and technical instruments company’s stock valued at $7,644,000 after buying an additional 1,926 shares in the last quarter. 92.19% of the stock is currently owned by hedge funds and other institutional investors.
FLIR Systems, Inc. (NASDAQ:FLIR) traded down 0.54% during midday trading on Thursday, hitting $35.12. 112,120 shares of the stock traded hands. The company has a market cap of $4.79 billion, a P/E ratio of 23.40 and a beta of 0.49. The company’s 50 day moving average is $37.05 and its 200-day moving average is $36.34. FLIR Systems, Inc. has a one year low of $28.26 and a one year high of $38.94.
FLIR Systems (NASDAQ:FLIR) last issued its quarterly earnings results on Wednesday, April 26th. The scientific and technical instruments company reported $0.36 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.36. FLIR Systems had a net margin of 12.32% and a return on equity of 13.58%. The business had revenue of $406.80 million for the quarter, compared to analyst estimates of $408.57 million. During the same period in the previous year, the business posted $0.30 earnings per share. The business’s revenue was up 7.2% compared to the same quarter last year. On average, equities research analysts forecast that FLIR Systems, Inc. will post $1.85 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, June 9th. Investors of record on Friday, May 26th were issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.70%. The ex-dividend date of this dividend was Wednesday, May 24th. FLIR Systems’s dividend payout ratio is currently 39.47%.
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Several equities research analysts have weighed in on FLIR shares. BidaskClub downgraded FLIR Systems from a “hold” rating to a “sell” rating in a research report on Tuesday, June 13th. Zacks Investment Research downgraded FLIR Systems from a “buy” rating to a “hold” rating in a research report on Tuesday, April 18th. Finally, Imperial Capital downgraded FLIR Systems from an “outperform” rating to an “in-line” rating and set a $38.00 price target on the stock. in a research report on Thursday, February 23rd. One research analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $36.63.
In related news, VP Jeffrey Frank sold 13,971 shares of the business’s stock in a transaction dated Thursday, May 18th. The shares were sold at an average price of $37.40, for a total transaction of $522,515.40. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director William Wright Crouch sold 38,800 shares of the business’s stock in a transaction dated Wednesday, June 14th. The stock was sold at an average price of $35.95, for a total transaction of $1,394,860.00. Following the sale, the director now directly owns 36,006 shares in the company, valued at approximately $1,294,415.70. The disclosure for this sale can be found here. In the last three months, insiders have sold 71,771 shares of company stock worth $2,625,195. 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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