Teachers Retirement System of The State of Kentucky cut its holdings in shares of Teledyne Technologies Incorporated (NYSE:TDY) by 4.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 20,905 shares of the scientific and technical instruments company’s stock after selling 981 shares during the period. Teachers Retirement System of The State of Kentucky owned approximately 0.06% of Teledyne Technologies worth $3,787,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. State of Tennessee Treasury Department acquired a new stake in Teledyne Technologies in the third quarter worth approximately $1,592,000. Prudential Financial Inc. lifted its position in Teledyne Technologies by 19.6% in the third quarter. Prudential Financial Inc. now owns 26,396 shares of the scientific and technical instruments company’s stock worth $4,202,000 after purchasing an additional 4,320 shares during the period. Swiss National Bank lifted its position in Teledyne Technologies by 0.9% in the third quarter. Swiss National Bank now owns 56,000 shares of the scientific and technical instruments company’s stock worth $8,914,000 after purchasing an additional 500 shares during the period. Alps Advisors Inc. acquired a new stake in Teledyne Technologies in the third quarter worth approximately $484,000. Finally, Sei Investments Co. lifted its position in Teledyne Technologies by 37.4% in the third quarter. Sei Investments Co. now owns 2,337 shares of the scientific and technical instruments company’s stock worth $373,000 after purchasing an additional 636 shares during the period. Institutional investors and hedge funds own 85.03% of the company’s stock.
A number of research firms have weighed in on TDY. ValuEngine upgraded Teledyne Technologies from a “hold” rating to a “buy” rating in a research report on Thursday, March 1st. Zacks Investment Research upgraded Teledyne Technologies from a “hold” rating to a “buy” rating and set a $213.00 target price for the company in a research report on Tuesday, February 6th. Finally, Needham & Company LLC upped their target price on Teledyne Technologies to $205.00 and gave the stock a “buy” rating in a research report on Wednesday, January 24th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $196.00.
In other Teledyne Technologies news, SVP Jason Vanwees sold 3,500 shares of the company’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $195.42, for a total value of $683,970.00. Following the transaction, the senior vice president now owns 34,085 shares of the company’s stock, valued at $6,660,890.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Charles Crocker sold 4,000 shares of the company’s stock in a transaction on Monday, March 5th. The shares were sold at an average price of $183.00, for a total value of $732,000.00. Following the completion of the transaction, the director now directly owns 47,488 shares in the company, valued at approximately $8,690,304. The disclosure for this sale can be found here. Insiders sold 48,494 shares of company stock worth $9,261,715 in the last ninety days. 3.73% of the stock is owned by corporate insiders.
Shares of Teledyne Technologies Incorporated (TDY) opened at $190.55 on Friday. The firm has a market capitalization of $6,816.25, a P/E ratio of 27.63, a price-to-earnings-growth ratio of 3.37 and a beta of 1.02. Teledyne Technologies Incorporated has a 52-week low of $121.58 and a 52-week high of $201.40. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.87 and a quick ratio of 1.13.
Teledyne Technologies (NYSE:TDY) last posted its quarterly earnings results on Thursday, February 1st. The scientific and technical instruments company reported $1.95 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.74 by $0.21. The company had revenue of $704.40 million for the quarter, compared to analysts’ expectations of $669.25 million. Teledyne Technologies had a return on equity of 14.07% and a net margin of 8.73%. The firm’s revenue was up 27.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.64 earnings per share. equities analysts predict that Teledyne Technologies Incorporated will post 7.55 EPS for the current fiscal year.
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Teledyne Technologies Profile
Teledyne Technologies Incorporated provides enabling technologies for industrial growth markets. The Company’s segments include Instrumentation, Digital Imaging, Aerospace and Defense Electronics, and Engineered Systems. Instrumentation segment provides monitoring and control instruments for marine, environmental, industrial and other applications, as well as electronic test and measurement equipment.
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