D. E. Shaw & Co. Inc. Lowers Position in FLIR Systems, Inc. (NASDAQ:FLIR)

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D. E. Shaw & Co. Inc. cut its holdings in FLIR Systems, Inc. (NASDAQ:FLIR) by 5.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,411,065 shares of the scientific and technical instruments company’s stock after selling 76,127 shares during the quarter. D. E. Shaw & Co. Inc. owned approximately 1.04% of FLIR Systems worth $76,339,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in FLIR. Bank of New York Mellon Corp lifted its stake in FLIR Systems by 45.5% in the second quarter. Bank of New York Mellon Corp now owns 3,311,826 shares of the scientific and technical instruments company’s stock worth $179,171,000 after acquiring an additional 1,036,120 shares during the period. JPMorgan Chase & Co. lifted its stake in FLIR Systems by 336.1% in the second quarter. JPMorgan Chase & Co. now owns 1,331,599 shares of the scientific and technical instruments company’s stock worth $71,108,000 after acquiring an additional 1,026,228 shares during the period. Argent Capital Management LLC lifted its stake in FLIR Systems by 122.7% in the first quarter. Argent Capital Management LLC now owns 1,145,129 shares of the scientific and technical instruments company’s stock worth $54,485,000 after acquiring an additional 630,869 shares during the period. Los Angeles Capital Management & Equity Research Inc. lifted its stake in FLIR Systems by 1,643.3% in the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 426,489 shares of the scientific and technical instruments company’s stock worth $23,073,000 after acquiring an additional 402,024 shares during the period. Finally, Kayne Anderson Rudnick Investment Management LLC lifted its stake in FLIR Systems by 32.4% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,104,730 shares of the scientific and technical instruments company’s stock worth $52,563,000 after acquiring an additional 270,180 shares during the period. 90.88% of the stock is owned by institutional investors.

FLIR has been the subject of several analyst reports. Berenberg Bank initiated coverage on shares of FLIR Systems in a research report on Friday, September 6th. They set a “buy” rating and a $60.00 price target for the company. BidaskClub raised shares of FLIR Systems from a “buy” rating to a “strong-buy” rating in a research report on Wednesday. Finally, ValuEngine lowered shares of FLIR Systems from a “buy” rating to a “hold” rating in a research report on Wednesday, July 24th. Two investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $60.40.

In other news, VP Brian E. Harding sold 3,625 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $52.48, for a total transaction of $190,240.00. Following the sale, the vice president now owns 8,876 shares of the company’s stock, valued at approximately $465,812.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 2.00% of the stock is owned by company insiders.

Shares of FLIR stock traded up $0.09 during mid-day trading on Friday, hitting $53.17. 733,872 shares of the stock traded hands, compared to its average volume of 670,961. The stock has a market cap of $7.22 billion, a P/E ratio of 23.95 and a beta of 1.17. The stock’s fifty day moving average is $49.19 and its two-hundred day moving average is $50.51. FLIR Systems, Inc. has a 52-week low of $40.52 and a 52-week high of $62.59. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.47 and a quick ratio of 1.61.

FLIR Systems (NASDAQ:FLIR) last released its quarterly earnings results on Wednesday, July 24th. The scientific and technical instruments company reported $0.56 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.55 by $0.01. The business had revenue of $482.00 million during 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 company’s quarterly revenue was up 6.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.55 earnings per share. As a group, equities analysts forecast that FLIR Systems, Inc. will post 2.34 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Friday, August 23rd were paid a dividend of $0.17 per share. The ex-dividend date was Thursday, August 22nd. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.28%. FLIR Systems’s payout ratio is 30.63%.

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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