Teachers Retirement System of The State of Kentucky Sells 237 Shares of Teledyne Technologies Incorporated (NYSE:TDY)

Teachers Retirement System of The State of Kentucky reduced its position in shares of Teledyne Technologies Incorporated (NYSE:TDY) by 6.4% in the third quarter, Holdings Channel reports. The firm owned 3,493 shares of the scientific and technical instruments company’s stock after selling 237 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Teledyne Technologies were worth $1,528,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in TDY. Tortoise Investment Management LLC raised its holdings in shares of Teledyne Technologies by 48.0% in the 2nd quarter. Tortoise Investment Management LLC now owns 74 shares of the scientific and technical instruments company’s stock valued at $29,000 after acquiring an additional 24 shares in the last quarter. Metis Global Partners LLC raised its position in shares of Teledyne Technologies by 1.6% during the 3rd quarter. Metis Global Partners LLC now owns 1,514 shares of the scientific and technical instruments company’s stock valued at $663,000 after buying an additional 24 shares in the last quarter. Crumly & Associates Inc. grew its position in Teledyne Technologies by 3.8% in the third quarter. Crumly & Associates Inc. now owns 677 shares of the scientific and technical instruments company’s stock worth $296,000 after acquiring an additional 25 shares in the last quarter. Raymond James Trust N.A. grew its position in Teledyne Technologies by 4.8% in the third quarter. Raymond James Trust N.A. now owns 550 shares of the scientific and technical instruments company’s stock worth $241,000 after acquiring an additional 25 shares in the last quarter. Finally, Bleakley Financial Group LLC increased its stake in Teledyne Technologies by 4.0% in the third quarter. Bleakley Financial Group LLC now owns 681 shares of the scientific and technical instruments company’s stock valued at $298,000 after acquiring an additional 26 shares during the last quarter. Institutional investors own 91.58% of the company’s stock.

Insider Transactions at Teledyne Technologies

In other Teledyne Technologies news, Chairman Robert Mehrabian sold 46,075 shares of the company’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $487.33, for a total value of $22,453,729.75. Following the completion of the transaction, the chairman now directly owns 171,802 shares in the company, valued at approximately $83,724,268.66. This represents a 21.15 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael T. Smith sold 2,025 shares of Teledyne Technologies stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $478.25, for a total transaction of $968,456.25. Following the sale, the director now directly owns 54,935 shares in the company, valued at $26,272,663.75. The trade was a 3.56 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 52,025 shares of company stock worth $25,347,399. Company insiders own 2.14% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. TD Cowen lifted their price target on Teledyne Technologies from $450.00 to $500.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. UBS Group assumed coverage on Teledyne Technologies in a research report on Tuesday, December 10th. They issued a “buy” rating and a $585.00 target price for the company. Bank of America upgraded shares of 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 report on Friday, November 8th. Needham & Company LLC boosted their price objective on shares of Teledyne Technologies from $528.00 to $550.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Finally, StockNews.com raised shares of Teledyne Technologies from a “hold” rating to a “buy” rating in a report on Wednesday, October 2nd. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Teledyne Technologies currently has an average rating of “Buy” and a consensus price target of $531.00.

Teledyne Technologies Stock Performance

Shares of TDY stock opened at $471.06 on Wednesday. The company has a market capitalization of $21.95 billion, a P/E ratio of 23.81, a PEG ratio of 3.30 and a beta of 1.01. Teledyne Technologies Incorporated has a fifty-two week low of $355.41 and a fifty-two week high of $492.00. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.35 and a current ratio of 2.00. The stock has a 50 day moving average price of $468.58 and a two-hundred day moving average price of $430.83.

Teledyne Technologies (NYSE:TDY) last posted its quarterly earnings results on Wednesday, October 23rd. The scientific and technical instruments company reported $5.10 EPS for the quarter, beating analysts’ consensus estimates of $4.97 by $0.13. The company had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.42 billion. Teledyne Technologies had a net margin of 16.88% and a return on equity of 10.02%. The firm’s revenue was up 2.9% compared to the same quarter last year. During the same period in the prior year, the business posted $5.05 EPS. Analysts expect that Teledyne Technologies Incorporated will post 19.45 earnings per share for the current year.

Teledyne Technologies Profile

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.