Principal Financial Group Inc. lowered its position in Teledyne Technologies Incorporated (NYSE:TDY – Get Rating) by 3.5% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 56,305 shares of the scientific and technical instruments company’s stock after selling 2,048 shares during the period. Principal Financial Group Inc.’s holdings in Teledyne Technologies were worth $22,517,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in Teledyne Technologies by 0.9% in the 3rd quarter. Vanguard Group Inc. now owns 5,223,747 shares of the scientific and technical instruments company’s stock valued at $1,762,859,000 after purchasing an additional 47,594 shares in the last quarter. State Street Corp raised its holdings in shares of Teledyne Technologies by 0.8% during the 3rd quarter. State Street Corp now owns 1,838,405 shares of the scientific and technical instruments company’s stock worth $620,407,000 after acquiring an additional 14,077 shares during the period. Kayne Anderson Rudnick Investment Management LLC raised its holdings in shares of Teledyne Technologies by 0.3% during the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,247,563 shares of the scientific and technical instruments company’s stock worth $421,015,000 after acquiring an additional 4,293 shares during the period. King Luther Capital Management Corp raised its holdings in shares of Teledyne Technologies by 4.2% during the 3rd quarter. King Luther Capital Management Corp now owns 482,953 shares of the scientific and technical instruments company’s stock worth $162,982,000 after acquiring an additional 19,651 shares during the period. Finally, Findlay Park Partners LLP raised its holdings in shares of Teledyne Technologies by 71.9% during the 4th quarter. Findlay Park Partners LLP now owns 345,419 shares of the scientific and technical instruments company’s stock worth $138,137,000 after acquiring an additional 144,449 shares during the period. Hedge funds and other institutional investors own 91.10% of the company’s stock.
Analyst Upgrades and Downgrades
Several research analysts have recently commented on TDY shares. StockNews.com lowered Teledyne Technologies from a “buy” rating to a “hold” rating in a report on Friday, May 12th. Credit Suisse Group reduced their price target on Teledyne Technologies from $503.00 to $499.00 in a report on Friday, April 28th. Finally, Needham & Company LLC reduced their price target on Teledyne Technologies from $498.00 to $470.00 in a report on Thursday, April 27th. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $485.67.
Teledyne Technologies Stock Down 0.3 %
Shares of TDY opened at $416.26 on Friday. The firm has a market cap of $19.59 billion, a P/E ratio of 26.35, a price-to-earnings-growth ratio of 3.22 and a beta of 1.08. Teledyne Technologies Incorporated has a 12-month low of $325.00 and a 12-month high of $448.71. The company’s 50-day moving average price is $422.76 and its 200-day moving average price is $418.60. The company has a current ratio of 1.94, a quick ratio of 1.30 and a debt-to-equity ratio of 0.42.
Teledyne Technologies (NYSE:TDY – Get Rating) last issued its quarterly earnings data on Wednesday, April 26th. The scientific and technical instruments company reported $4.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.43 by $0.10. The firm had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.37 billion. Teledyne Technologies had a net margin of 13.67% and a return on equity of 10.98%. Teledyne Technologies’s revenue was up 4.7% on a year-over-year basis. During the same period in the previous year, the firm earned $4.27 EPS. On average, sell-side analysts forecast that Teledyne Technologies Incorporated will post 19.13 earnings per share for the current year.
Insider Activity at Teledyne Technologies
In related news, VP Melanie Susan Cibik sold 2,000 shares of the business’s stock in a transaction dated Monday, May 15th. The shares were sold at an average price of $413.00, for a total value of $826,000.00. Following the sale, the vice president now directly owns 27,305 shares in the company, valued at approximately $11,276,965. The sale was disclosed in a legal filing with the SEC, which can be accessed via this link. In other Teledyne Technologies news, CEO Robert Mehrabian sold 3,400 shares of Teledyne Technologies stock in a transaction dated Monday, March 6th. The stock was sold at an average price of $440.17, for a total value of $1,496,578.00. Following the completion of the transaction, the chief executive officer now directly owns 196,052 shares of the company’s stock, valued at approximately $86,296,208.84. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Melanie Susan Cibik sold 2,000 shares of Teledyne Technologies stock in a transaction dated Monday, May 15th. The shares were sold at an average price of $413.00, for a total value of $826,000.00. Following the completion of the transaction, the vice president now directly owns 27,305 shares of the company’s stock, valued at $11,276,965. The disclosure for this sale can be found here. 2.14% of the stock is owned by insiders.
Teledyne Technologies Profile
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Teledyne Technologies, Inc. engages in the provision of electronic and communication products for wireless and satellite systems. It operates through the following business segments: Instrumentation, Digital Imaging, Aerospace and Defense Electronics, and Engineered Systems. The Instrumentation segment provides monitoring and control instruments for marine, environmental, industrial, and other applications, and electronic test and measurement equipment.
Further Reading
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