State of Tennessee Treasury Department cut its position in shares of FLIR Systems, Inc. (NASDAQ:FLIR) by 49.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 31,541 shares of the scientific and technical instruments company’s stock after selling 31,320 shares during the quarter. State of Tennessee Treasury Department’s holdings in FLIR Systems were worth $1,006,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. CSat Investment Advisory L.P. increased its position in shares of FLIR Systems by 16.0% during the 4th quarter. CSat Investment Advisory L.P. now owns 1,277 shares of the scientific and technical instruments company’s stock valued at $67,000 after purchasing an additional 176 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its position in shares of FLIR Systems by 1.0% during the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 30,668 shares of the scientific and technical instruments company’s stock valued at $978,000 after purchasing an additional 297 shares during the last quarter. Skandinaviska Enskilda Banken AB publ increased its position in shares of FLIR Systems by 4.5% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 6,922 shares of the scientific and technical instruments company’s stock valued at $360,000 after purchasing an additional 300 shares during the last quarter. Public Employees Retirement Association of Colorado increased its position in shares of FLIR Systems by 1.8% during the 1st quarter. Public Employees Retirement Association of Colorado now owns 18,535 shares of the scientific and technical instruments company’s stock valued at $591,000 after purchasing an additional 330 shares during the last quarter. Finally, Aptus Capital Advisors LLC increased its position in shares of FLIR Systems by 2.3% during the 1st quarter. Aptus Capital Advisors LLC now owns 14,918 shares of the scientific and technical instruments company’s stock valued at $475,000 after purchasing an additional 333 shares during the last quarter. Hedge funds and other institutional investors own 92.81% of the company’s stock.

Several equities analysts have recently commented on FLIR shares. Zacks Investment Research upgraded FLIR Systems from a “hold” rating to a “buy” rating and set a $49.00 price objective on the stock in a research report on Wednesday, May 13th. William Blair restated a “buy” rating on shares of FLIR Systems in a research report on Wednesday, June 17th. Imperial Capital raised their price target on FLIR Systems from $45.00 to $52.00 and gave the stock an “in-line” rating in a research report on Wednesday, May 13th. Goldman Sachs Group lowered FLIR Systems from a “buy” rating to a “sell” rating in a research report on Sunday, April 19th. Finally, TheStreet lowered FLIR Systems from a “b-” rating to a “c+” rating in a research report on Friday, March 6th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $50.78.

In other news, Director Steven E. Wynne sold 21,300 shares of the firm’s stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $48.88, for a total value of $1,041,144.00. Following the completion of the transaction, the director now owns 49,661 shares in the company, valued at approximately $2,427,429.68. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 1.58% of the company’s stock.

NASDAQ FLIR opened at $42.16 on Friday. FLIR Systems, Inc. has a fifty-two week low of $23.85 and a fifty-two week high of $59.44. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.24 and a current ratio of 1.92. The stock has a 50 day simple moving average of $43.25 and a two-hundred day simple moving average of $45.00. The stock has a market cap of $5.52 billion, a P/E ratio of 19.89 and a beta of 1.57.

FLIR Systems (NASDAQ:FLIR) last released its earnings results on Wednesday, May 6th. The scientific and technical instruments company reported $0.42 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.42. The company had revenue of $450.90 million during the quarter, compared to analysts’ expectations of $437.48 million. FLIR Systems had a return on equity of 15.71% and a net margin of 6.62%. The firm’s revenue for the quarter was up 1.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.53 EPS. Sell-side analysts predict that FLIR Systems, Inc. will post 2.07 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, June 5th. Stockholders of record on Friday, May 22nd were paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.61%. The ex-dividend date of this dividend was Thursday, May 21st. FLIR Systems’s payout ratio is presently 30.49%.

About FLIR Systems

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

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