Shapiro Capital Management LLC Lowers Position in FLIR Systems, Inc. (FLIR)

Shapiro Capital Management LLC cut its position in FLIR Systems, Inc. (NASDAQ:FLIR) by 22.4% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 2,808,574 shares of the scientific and technical instruments company’s stock after selling 809,550 shares during the period. FLIR Systems comprises about 2.4% of Shapiro Capital Management LLC’s portfolio, making the stock its 16th largest position. Shapiro Capital Management LLC’s holdings in FLIR Systems were worth $101,895,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Norges Bank bought a new position in shares of FLIR Systems during the fourth quarter worth about $57,136,000. Findlay Park Partners LLP boosted its position in shares of FLIR Systems by 1,465.0% in the first quarter. Findlay Park Partners LLP now owns 1,565,000 shares of the scientific and technical instruments company’s stock worth $56,778,000 after buying an additional 1,465,000 shares during the last quarter. Empire Life Investments Inc. bought a new position in shares of FLIR Systems during the fourth quarter worth about $25,190,000. Alliancebernstein L.P. boosted its position in shares of FLIR Systems by 216.3% in the first quarter. Alliancebernstein L.P. now owns 765,949 shares of the scientific and technical instruments company’s stock worth $27,789,000 after buying an additional 523,760 shares during the last quarter. Finally, Scout Investments Inc. boosted its position in shares of FLIR Systems by 257.6% in the first quarter. Scout Investments Inc. now owns 692,204 shares of the scientific and technical instruments company’s stock worth $22,808,000 after buying an additional 498,635 shares during the last quarter. Institutional investors and hedge funds own 90.79% of the company’s stock.

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

FLIR Systems, Inc. (FLIR) opened at 37.53 on Wednesday. The stock has a market cap of $5.12 billion, a P/E ratio of 25.00 and a beta of 0.52. The stock’s 50 day moving average price is $37.16 and its 200-day moving average price is $36.30. FLIR Systems, Inc. has a one year low of $28.26 and a one year high of $38.94.

FLIR Systems (NASDAQ:FLIR) last released its earnings results on Wednesday, April 26th. The scientific and technical instruments company reported $0.36 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.36. The firm had revenue of $406.80 million during the quarter, compared to analysts’ expectations of $408.57 million. FLIR Systems had a return on equity of 10.05% and a net margin of 10.46%. The company’s revenue was up 7.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.30 EPS. On average, analysts predict that FLIR Systems, Inc. will post $1.85 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 9th. Stockholders of record on Friday, May 26th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 1.60%. The ex-dividend date is Wednesday, May 24th. FLIR Systems’s payout ratio is 37.50%.

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A number of equities analysts recently issued reports on FLIR shares. Zacks Investment Research cut FLIR Systems from a “buy” rating to a “hold” rating in a report on Tuesday, April 18th. Needham & Company LLC reiterated a “buy” rating and set a $40.00 price target on shares of FLIR Systems in a report on Tuesday, February 21st. 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 report on Thursday, February 23rd. Finally, Raymond James Financial, Inc. downgraded FLIR Systems from an “outperform” rating to a “market perform” rating in a report on Tuesday, February 14th. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $36.63.

In other news, Director Earl R. Lewis sold 15,000 shares of the firm’s stock in a transaction dated Friday, May 12th. The stock was sold at an average price of $37.26, for a total value of $558,900.00. Following the completion of the transaction, the director now owns 551,234 shares in the company, valued at approximately $20,538,978.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Travis D. Merrill sold 4,000 shares of the firm’s stock in a transaction dated Tuesday, May 2nd. The shares were sold at an average price of $37.23, for a total value of $148,920.00. The disclosure for this sale can be found here. Insiders sold a total of 32,971 shares of company stock valued at $1,230,335 in the last 90 days. 3.00% of the stock is owned by corporate 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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