Meeder Asset Management Inc. Reduces Holdings in FLIR Systems, Inc. (NASDAQ:FLIR)

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Meeder Asset Management Inc. lessened its position in shares of FLIR Systems, Inc. (NASDAQ:FLIR) by 14.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 15,359 shares of the scientific and technical instruments company’s stock after selling 2,596 shares during the period. Meeder Asset Management Inc.’s holdings in FLIR Systems were worth $831,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Geode Capital Management LLC increased its position in FLIR Systems by 6.0% during the fourth quarter. Geode Capital Management LLC now owns 2,162,798 shares of the scientific and technical instruments company’s stock worth $94,034,000 after acquiring an additional 122,436 shares during the period. BB&T Corp increased its position in FLIR Systems by 95.7% during the first quarter. BB&T Corp now owns 18,228 shares of the scientific and technical instruments company’s stock worth $867,000 after acquiring an additional 8,915 shares during the period. Brinker Capital Inc. increased its holdings in FLIR Systems by 30.3% in the 1st quarter. Brinker Capital Inc. now owns 41,105 shares of the scientific and technical instruments company’s stock valued at $1,956,000 after buying an additional 9,552 shares during the period. Mercer Global Advisors Inc. ADV bought a new stake in FLIR Systems in the 1st quarter valued at $480,000. Finally, Virginia Retirement Systems ET AL bought a new stake in FLIR Systems in the 1st quarter valued at $2,964,000. 92.82% of the stock is currently owned by hedge funds and other institutional investors.

Shares of FLIR Systems stock opened at $47.89 on Thursday. The firm has a market capitalization of $6.46 billion, a PE ratio of 21.57 and a beta of 1.17. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.47 and a quick ratio of 1.61. The company’s fifty day moving average price is $50.98 and its two-hundred day moving average price is $50.64. FLIR Systems, Inc. has a 52-week low of $40.52 and a 52-week high of $63.88.

FLIR Systems (NASDAQ:FLIR) last announced its quarterly earnings results on Wednesday, July 24th. The scientific and technical instruments company reported $0.56 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.55 by $0.01. The firm had revenue of $482.00 million for the quarter, compared to analyst estimates of $478.42 million. FLIR Systems had a net margin of 15.44% and a return on equity of 16.56%. The business’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.55 EPS. Analysts predict that FLIR Systems, Inc. will post 2.34 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 6th. Shareholders of record on Friday, August 23rd will be issued a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 1.42%. The ex-dividend date of this dividend is Thursday, August 22nd. FLIR Systems’s dividend payout ratio (DPR) is presently 30.63%.

Several equities research analysts have issued reports on the stock. BidaskClub lowered shares of FLIR Systems from a “buy” rating to a “hold” rating in a report on Thursday, July 18th. ValuEngine lowered shares of FLIR Systems from a “buy” rating to a “hold” rating in a report on Wednesday, July 24th. Finally, Imperial Capital raised shares of FLIR Systems from an “in-line” rating to an “outperform” rating and boosted their price target for the company from $56.00 to $57.00 in a report on Wednesday, May 22nd. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. FLIR Systems has a consensus rating of “Buy” and a consensus target price of $60.50.

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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