Teachers Retirement System of The State of Kentucky cut its stake in shares of Teledyne Technologies Incorporated (NYSE:TDY) by 4.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund 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 0.06% of Teledyne Technologies worth $3,787,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently modified their holdings of the company. American International Group Inc. lifted its position in shares of Teledyne Technologies by 1.4% in the fourth quarter. American International Group Inc. now owns 73,308 shares of the scientific and technical instruments company’s stock valued at $13,280,000 after buying an additional 1,022 shares during the last quarter. Rhumbline Advisers increased its stake in shares of Teledyne Technologies by 11.2% during the third quarter. Rhumbline Advisers now owns 76,533 shares of the scientific and technical instruments company’s stock worth $12,183,000 after purchasing an additional 7,714 shares during the period. TT International increased its stake in shares of Teledyne Technologies by 73.2% during the third quarter. TT International now owns 30,320 shares of the scientific and technical instruments company’s stock worth $4,826,000 after purchasing an additional 12,816 shares during the period. BlackRock Inc. increased its stake in shares of Teledyne Technologies by 2.8% during the fourth quarter. BlackRock Inc. now owns 3,476,666 shares of the scientific and technical instruments company’s stock worth $629,798,000 after purchasing an additional 95,833 shares during the period. Finally, Brown Advisory Inc. increased its stake in shares of Teledyne Technologies by 18.3% during the third quarter. Brown Advisory Inc. now owns 3,640 shares of the scientific and technical instruments company’s stock worth $579,000 after purchasing an additional 563 shares during the period. 85.03% of the stock is owned by hedge funds and other institutional investors.
Teledyne Technologies stock traded down $4.89 during mid-day trading on Friday, reaching $185.57. 137,990 shares of the company were exchanged, compared to its average volume of 164,070. Teledyne Technologies Incorporated has a 12 month low of $121.58 and a 12 month 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. The firm has a market cap of $6,624.29, a PE ratio of 26.78, a price-to-earnings-growth ratio of 3.28 and a beta of 0.99.
Teledyne Technologies (NYSE:TDY) last issued 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. Teledyne Technologies had a return on equity of 14.07% and a net margin of 8.73%. The company had revenue of $704.40 million for the quarter, compared to analyst estimates of $669.25 million. During the same quarter last year, the company posted $1.64 EPS. The company’s revenue for the quarter was up 27.4% compared to the same quarter last year. sell-side analysts expect that Teledyne Technologies Incorporated will post 7.55 earnings per share for the current fiscal year.
In other news, Director Kenneth C. Dahlberg sold 5,994 shares of Teledyne Technologies stock in a transaction on Monday, February 5th. The stock was sold at an average price of $182.44, for a total value of $1,093,545.36. Following the transaction, the director now owns 12,164 shares in the company, valued at approximately $2,219,200.16. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Charles Crocker sold 4,000 shares of the firm’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 sale, 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. In the last quarter, insiders sold 67,078 shares of company stock worth $12,858,091. Corporate insiders own 3.73% of the company’s stock.
A number of equities analysts have recently weighed in on the company. Zacks Investment Research upgraded Teledyne Technologies from a “hold” rating to a “buy” rating and set a $213.00 target price on the stock in a research note on Tuesday, February 6th. Needham & Company LLC increased their target price on Teledyne Technologies to $205.00 and gave the stock a “buy” rating in a research note on Wednesday, January 24th. Finally, ValuEngine upgraded Teledyne Technologies from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $196.00.
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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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