Millennium Management LLC decreased its position in Teledyne Technologies Incorporated (NYSE:TDY) by 73.1% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 67,290 shares of the scientific and technical instruments company’s stock after selling 182,710 shares during the quarter. Millennium Management LLC owned about 0.18% of Teledyne Technologies worth $21,666,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. NEXT Financial Group Inc acquired a new stake in Teledyne Technologies in the second quarter valued at approximately $97,000. Commonwealth Equity Services LLC bought a new position in shares of Teledyne Technologies during the 2nd quarter valued at $228,000. State of Alaska Department of Revenue raised its holdings in shares of Teledyne Technologies by 1.3% during the 2nd quarter. State of Alaska Department of Revenue now owns 5,702 shares of the scientific and technical instruments company’s stock valued at $1,561,000 after purchasing an additional 71 shares in the last quarter. Arizona State Retirement System raised its holdings in shares of Teledyne Technologies by 1.2% during the 2nd quarter. Arizona State Retirement System now owns 26,299 shares of the scientific and technical instruments company’s stock valued at $7,203,000 after purchasing an additional 299 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC acquired a new stake in shares of Teledyne Technologies in the 2nd quarter valued at $54,000. 84.77% of the stock is owned by institutional investors and hedge funds.
In other news, Director Simon M. Lorne sold 2,191 shares of the firm’s stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $332.33, for a total value of $728,135.03. Following the sale, the director now directly owns 31,374 shares of the company’s stock, valued at $10,426,521.42. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Sue Main sold 12,000 shares of the firm’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $318.22, for a total value of $3,818,640.00. Following the completion of the sale, the chief financial officer now directly owns 48,418 shares in the company, valued at $15,407,575.96. The disclosure for this sale can be found here. Insiders sold 37,712 shares of company stock valued at $12,443,774 over the last 90 days. 3.19% of the stock is owned by corporate insiders.
TDY has been the subject of a number of recent research reports. Cowen set a $375.00 price objective on shares of Teledyne Technologies and gave the stock a “buy” rating in a report on Friday, September 27th. ValuEngine upgraded Teledyne Technologies from a “sell” rating to a “hold” rating in a report on Tuesday. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Teledyne Technologies presently has an average rating of “Buy” and an average target price of $312.50.
Shares of TDY stock opened at $340.36 on Tuesday. The stock’s 50 day simple moving average is $335.94 and its 200 day simple moving average is $297.86. Teledyne Technologies Incorporated has a twelve month low of $189.35 and a twelve month high of $351.52. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.00 and a current ratio of 1.48. The company has a market capitalization of $12.54 billion, a price-to-earnings ratio of 38.33, a PEG ratio of 4.38 and a beta of 1.09.
Teledyne Technologies (NYSE:TDY) last announced its earnings results on Wednesday, October 23rd. The scientific and technical instruments company reported $2.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.53 by $0.31. Teledyne Technologies had a return on equity of 15.52% and a net margin of 12.27%. The firm had revenue of $802.20 million during the quarter, compared to analysts’ expectations of $786.55 million. During the same quarter in the prior year, the business earned $2.43 earnings per share. The company’s revenue was up 10.6% on a year-over-year basis. On average, analysts forecast that Teledyne Technologies Incorporated will post 10.42 EPS for the current fiscal year.
Teledyne Technologies Company Profile
Teledyne Technologies Incorporated provides instrumentation, digital imaging, aerospace and defense electronics, and engineered systems in the United States, the United Kingdom, Denmark, Canada, France, and the Netherlands. 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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