Municipal Employees Retirement System of Michigan Increases Stake in FLIR Systems, Inc. (FLIR)

Municipal Employees Retirement System of Michigan boosted its stake in FLIR Systems, Inc. (NASDAQ:FLIR) by 310.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 17,900 shares of the scientific and technical instruments company’s stock after buying an additional 13,540 shares during the period. Municipal Employees Retirement System of Michigan’s holdings in FLIR Systems were worth $620,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. TrimTabs Asset Management LLC purchased a new stake in FLIR Systems during the first quarter valued at approximately $112,000. FTB Advisors Inc. purchased a new stake in FLIR Systems during the first quarter valued at approximately $130,000. Mn Services Vermogensbeheer B.V. raised its stake in FLIR Systems by 4.7% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 3,638 shares of the scientific and technical instruments company’s stock valued at $123,000 after buying an additional 163 shares during the period. Daiwa Securities Group Inc. raised its stake in FLIR Systems by 21.9% in the first quarter. Daiwa Securities Group Inc. now owns 3,900 shares of the scientific and technical instruments company’s stock valued at $141,000 after buying an additional 700 shares during the period. Finally, Quantbot Technologies LP purchased a new stake in FLIR Systems during the first quarter valued at approximately $165,000. Institutional investors own 87.44% of the company’s stock.

FLIR Systems, Inc. (NASDAQ FLIR) opened at 37.83 on Friday. The stock’s 50 day moving average price is $37.19 and its 200 day moving average price is $36.60. FLIR Systems, Inc. has a one year low of $28.26 and a one year high of $38.94. The firm has a market capitalization of $5.19 billion, a PE ratio of 24.39 and a beta of 0.59.

FLIR Systems (NASDAQ:FLIR) last announced its earnings results on Wednesday, July 26th. The scientific and technical instruments company reported $0.42 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.41 by $0.01. FLIR Systems had a net margin of 12.44% and a return on equity of 13.97%. The firm had revenue of $434.12 million for the quarter, compared to analyst estimates of $437.32 million. During the same quarter last year, the business earned $0.37 earnings per share. FLIR Systems’s revenue was up 7.8% compared to the same quarter last year. Analysts expect that FLIR Systems, Inc. will post $1.85 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 8th. Investors of record on Friday, August 25th will be given a dividend of $0.15 per share. The ex-dividend date is Wednesday, August 23rd. This represents a $0.60 dividend on an annualized basis and a yield of 1.59%. FLIR Systems’s dividend payout ratio (DPR) is currently 38.46%.

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Several brokerages have recently weighed in on FLIR. BidaskClub cut FLIR Systems from a “hold” rating to a “sell” rating in a report on Monday, July 31st. Zacks Investment Research upgraded FLIR Systems from a “hold” rating to a “buy” rating and set a $39.00 target price on the stock in a report on Tuesday, June 27th. UBS AG upgraded FLIR Systems from a “market perform” rating to a “strong-buy” rating in a report on Monday, July 10th. Stephens began coverage on FLIR Systems in a report on Friday, July 7th. They set an “overweight” rating on the stock. Finally, Raymond James Financial, Inc. upgraded FLIR Systems from a “market perform” rating to a “strong-buy” rating and set a $43.00 target price on the stock in a report on Monday, July 10th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, four have assigned a buy rating and two have issued a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $38.13.

In other FLIR Systems news, Director William Wright Crouch sold 38,800 shares of FLIR Systems stock in a transaction on Wednesday, June 14th. The shares were sold at an average price of $35.95, for a total value of $1,394,860.00. Following the transaction, the director now owns 36,006 shares in the company, valued at approximately $1,294,415.70. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Earl R. Lewis sold 20,000 shares of FLIR Systems stock in a transaction on Wednesday, August 16th. The shares were sold at an average price of $38.22, for a total transaction of $764,400.00. Following the completion of the transaction, the director now owns 509,379 shares in the company, valued at approximately $19,468,465.38. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 70,387 shares of company stock worth $2,591,107. 3.00% of the stock is owned by company insiders.

About FLIR Systems

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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