The Manufacturers Life Insurance Company reduced its holdings in Teledyne Technologies Incorporated (NYSE:TDY) by 2.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 57,103 shares of the scientific and technical instruments company’s stock after selling 1,518 shares during the period. The Manufacturers Life Insurance Company’s holdings in Teledyne Technologies were worth $10,688,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also modified their holdings of the company. Signaturefd LLC acquired a new stake in Teledyne Technologies in the first quarter valued at approximately $111,000. Three Peaks Capital Management LLC acquired a new stake in Teledyne Technologies in the first quarter valued at approximately $111,000. Advisor Group Inc. grew its holdings in Teledyne Technologies by 41.6% in the fourth quarter. Advisor Group Inc. now owns 1,075 shares of the scientific and technical instruments company’s stock valued at $195,000 after purchasing an additional 316 shares during the period. Nuveen Asset Management LLC acquired a new stake in Teledyne Technologies in the first quarter valued at approximately $204,000. Finally, BB&T Securities LLC acquired a new stake in Teledyne Technologies in the fourth quarter valued at approximately $206,000. 84.05% of the stock is currently owned by institutional investors.
In related news, VP Edwin Roks sold 11,334 shares of Teledyne Technologies stock in a transaction that occurred on Friday, June 1st. The stock was sold at an average price of $206.00, for a total transaction of $2,334,804.00. Following the transaction, the vice president now owns 8,570 shares in the company, valued at $1,765,420. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Charles Crocker sold 1,563 shares of Teledyne Technologies stock in a transaction that occurred on Friday, May 25th. The stock was sold at an average price of $199.00, for a total value of $311,037.00. Following the transaction, the director now owns 45,619 shares in the company, valued at approximately $9,078,181. The disclosure for this sale can be found here. In the last 90 days, insiders sold 91,464 shares of company stock worth $18,205,527. Company insiders own 3.73% of the company’s stock.
Several equities analysts have recently weighed in on TDY shares. ValuEngine upgraded Teledyne Technologies from a “hold” rating to a “buy” rating in a research report on Thursday, March 1st. Zacks Investment Research downgraded Teledyne Technologies from a “buy” rating to a “hold” rating in a research report on Thursday, April 5th. Finally, Needham & Company LLC restated a “buy” rating and issued a $210.00 target price (up previously from $205.00) on shares of Teledyne Technologies in a research report on Friday, May 4th. Two 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 a consensus rating of “Buy” and a consensus price target of $197.67.
NYSE TDY opened at $198.90 on Friday. The company has a market capitalization of $7.14 billion, a PE ratio of 28.70, a PEG ratio of 3.53 and a beta of 1.02. Teledyne Technologies Incorporated has a 1-year low of $123.37 and a 1-year high of $214.32. The company has a current ratio of 1.91, a quick ratio of 1.22 and a debt-to-equity ratio of 0.50.
Teledyne Technologies (NYSE:TDY) last released its earnings results on Thursday, May 3rd. The scientific and technical instruments company reported $1.81 earnings per share for the quarter, beating the consensus estimate of $1.55 by $0.26. The business had revenue of $695.60 million for the quarter, compared to the consensus estimate of $661.58 million. Teledyne Technologies had a return on equity of 14.33% and a net margin of 9.63%. The business’s quarterly revenue was up 22.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.84 earnings per share. research analysts predict that Teledyne Technologies Incorporated will post 7.55 earnings per share for the current fiscal year.
Teledyne Technologies Profile
Teledyne Technologies Incorporated provides instrumentation, digital imaging, aerospace and defense electronics, and engineered systems in the United States, Canada, the United Kingdom, France, and internationally. The company's Instrumentation segment offers monitoring and control instruments for marine, environmental, industrial, and other applications, as well as electronic test and measurement equipment; and power and communications connectivity devices for distributed instrumentation systems and sensor networks deployed in mission critical and harsh environments.
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