Strs Ohio Acquires 10,148 Shares of FLIR Systems, Inc. (FLIR)

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Strs Ohio raised its holdings in shares of FLIR Systems, Inc. (NASDAQ:FLIR) by 562.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,952 shares of the scientific and technical instruments company’s stock after purchasing an additional 10,148 shares during the period. Strs Ohio’s holdings in FLIR Systems were worth $621,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in FLIR. Massachusetts Financial Services Co. MA increased its stake in FLIR Systems by 554.9% during the first quarter. Massachusetts Financial Services Co. MA now owns 2,428,662 shares of the scientific and technical instruments company’s stock valued at $121,458,000 after purchasing an additional 2,057,823 shares during the last quarter. Artisan Partners Limited Partnership bought a new stake in FLIR Systems during the first quarter valued at $85,388,000. Atlanta Capital Management Co. L L C increased its stake in FLIR Systems by 10.4% during the first quarter. Atlanta Capital Management Co. L L C now owns 4,131,454 shares of the scientific and technical instruments company’s stock valued at $206,614,000 after purchasing an additional 388,482 shares during the last quarter. Wells Fargo & Company MN increased its stake in FLIR Systems by 47.4% during the second quarter. Wells Fargo & Company MN now owns 1,100,685 shares of the scientific and technical instruments company’s stock valued at $57,202,000 after purchasing an additional 354,091 shares during the last quarter. Finally, Fred Alger Management Inc. increased its stake in FLIR Systems by 80.5% during the second quarter. Fred Alger Management Inc. now owns 789,528 shares of the scientific and technical instruments company’s stock valued at $41,032,000 after purchasing an additional 352,208 shares during the last quarter. Hedge funds and other institutional investors own 90.61% of the company’s stock.

FLIR has been the subject of several recent research reports. BidaskClub upgraded shares of FLIR Systems from a “hold” rating to a “buy” rating in a research report on Saturday, September 1st. William Blair upgraded shares of FLIR Systems from a “market perform” rating to an “outperform” rating in a research report on Monday, August 20th. Stephens upped their price target on shares of FLIR Systems from $61.00 to $69.00 and gave the stock an “overweight” rating in a research report on Monday, July 30th. Imperial Capital restated an “outperform” rating and set a $60.00 price target (up previously from $53.00) on shares of FLIR Systems in a research report on Wednesday, August 1st. Finally, Needham & Company LLC upped their price target on shares of FLIR Systems from $60.00 to $62.00 and gave the stock a “buy” rating in a research report on Thursday, July 26th. Three investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $56.75.

In related news, Director Earl R. Lewis sold 25,000 shares of the company’s stock in a transaction dated Friday, August 17th. The shares were sold at an average price of $60.09, for a total value of $1,502,250.00. Following the completion of the sale, the director now owns 538,387 shares of the company’s stock, valued at $32,351,674.83. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Earl R. Lewis sold 39,508 shares of the company’s stock in a transaction dated Friday, July 27th. The stock was sold at an average price of $59.05, for a total transaction of $2,332,947.40. The disclosure for this sale can be found here. Insiders sold 89,352 shares of company stock valued at $5,349,705 in the last ninety days. Corporate insiders own 2.00% of the company’s stock.

FLIR Systems stock opened at $62.95 on Thursday. The stock has a market cap of $8.66 billion, a PE ratio of 33.48 and a beta of 0.67. The company has a debt-to-equity ratio of 0.23, a current ratio of 4.07 and a quick ratio of 2.85. FLIR Systems, Inc. has a one year low of $37.66 and a one year high of $63.36.

FLIR Systems (NASDAQ:FLIR) last released its quarterly earnings results on Wednesday, July 25th. The scientific and technical instruments company reported $0.55 EPS for the quarter, topping the consensus estimate of $0.49 by $0.06. The business had revenue of $452.70 million during the quarter, compared to analyst estimates of $429.12 million. FLIR Systems had a net margin of 6.70% and a return on equity of 16.44%. The company’s quarterly revenue was up 4.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.42 earnings per share. equities research analysts predict that FLIR Systems, Inc. will post 2.22 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 7th. Investors of record on Friday, August 24th will be issued a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 1.02%. The ex-dividend date of this dividend is Thursday, August 23rd. FLIR Systems’s payout ratio is currently 34.04%.

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

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