Teledyne Technologies Incorporated (NYSE:TDY) Position Cut by Kentucky Retirement Systems

Kentucky Retirement Systems trimmed its holdings in Teledyne Technologies Incorporated (NYSE:TDY) by 1.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,215 shares of the scientific and technical instruments company’s stock after selling 44 shares during the quarter. Kentucky Retirement Systems’ holdings in Teledyne Technologies were worth $1,492,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Covea Finance grew its holdings in Teledyne Technologies by 25.1% in the 4th quarter. Covea Finance now owns 21,400 shares of the scientific and technical instruments company’s stock worth $9,932,000 after buying an additional 4,300 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Teledyne Technologies by 6.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,150,065 shares of the scientific and technical instruments company’s stock valued at $503,338,000 after purchasing an additional 64,617 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in Teledyne Technologies by 10.9% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 6,515 shares of the scientific and technical instruments company’s stock valued at $3,024,000 after purchasing an additional 640 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in Teledyne Technologies by 37.8% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,290 shares of the scientific and technical instruments company’s stock valued at $2,021,000 after purchasing an additional 1,176 shares in the last quarter. Finally, Verition Fund Management LLC boosted its stake in Teledyne Technologies by 240.5% during the 3rd quarter. Verition Fund Management LLC now owns 36,524 shares of the scientific and technical instruments company’s stock valued at $15,985,000 after purchasing an additional 25,796 shares in the last quarter. 91.58% of the stock is owned by institutional investors.

Insider Activity

In other news, Chairman Robert Mehrabian sold 5,007 shares of the stock in a transaction on Friday, February 7th. The stock was sold at an average price of $510.33, for a total value of $2,555,222.31. Following the completion of the sale, the chairman now owns 144,553 shares in the company, valued at $73,769,732.49. This represents a 3.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Michael T. Smith sold 2,025 shares of the company’s stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $478.25, for a total transaction of $968,456.25. Following the completion of the transaction, the director now directly owns 54,935 shares in the company, valued at $26,272,663.75. This trade represents a 3.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 32,190 shares of company stock worth $16,386,864 over the last quarter. Corporate insiders own 2.14% of the company’s stock.

Teledyne Technologies Price Performance

Shares of NYSE:TDY opened at $491.27 on Monday. Teledyne Technologies Incorporated has a one year low of $355.41 and a one year high of $522.50. The stock has a fifty day moving average of $485.23 and a 200-day moving average of $461.62. The company has a market capitalization of $22.89 billion, a PE ratio of 28.51, a price-to-earnings-growth ratio of 3.14 and a beta of 1.03. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.61 and a current ratio of 2.33.

Teledyne Technologies (NYSE:TDY) last released its earnings results on Wednesday, January 22nd. The scientific and technical instruments company reported $5.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.23 by $0.29. The company had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.45 billion. Teledyne Technologies had a return on equity of 9.94% and a net margin of 14.45%. The company’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $5.44 earnings per share. As a group, equities analysts anticipate that Teledyne Technologies Incorporated will post 21.55 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on TDY shares. Needham & Company LLC reaffirmed a “buy” rating and set a $585.00 price target on shares of Teledyne Technologies in a research note on Wednesday, February 5th. Bank of America raised Teledyne Technologies from a “neutral” rating to a “buy” rating and increased their price target for the company from $450.00 to $550.00 in a research note on Friday, November 8th. Finally, UBS Group initiated coverage on Teledyne Technologies in a research note on Tuesday, December 10th. They set a “buy” rating and a $585.00 price target for the company. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $538.00.

About Teledyne Technologies

Teledyne Technologies Incorporated, together with its subsidiaries, provides enabling technologies for industrial growth markets in the United States and internationally. Its Digital Imaging segment provides visible spectrum sensors and digital cameras; and infrared, ultraviolet, visible, and X-ray spectra; as well as micro electromechanical systems and semiconductors, including analog-to-digital and digital-to-analog converters.