Public Employees Retirement System of Ohio cut its stake in shares of Teledyne Technologies Incorporated (NYSE:TDY) by 34.3% in the 3rd quarter, HoldingsChannel reports. The fund owned 21,413 shares of the scientific and technical instruments company’s stock after selling 11,178 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Teledyne Technologies were worth $6,895,000 at the end of the most recent quarter.
A number of other hedge funds also recently modified their holdings of TDY. Nikko Asset Management Americas Inc. raised its stake in shares of Teledyne Technologies by 3.4% during the second quarter. Nikko Asset Management Americas Inc. now owns 1,170 shares of the scientific and technical instruments company’s stock valued at $320,000 after acquiring an additional 38 shares during the last quarter. Northwestern Mutual Investment Management Company LLC raised its position in Teledyne Technologies by 0.4% during the 3rd quarter. Northwestern Mutual Investment Management Company LLC now owns 10,373 shares of the scientific and technical instruments company’s stock valued at $3,340,000 after purchasing an additional 38 shares during the last quarter. Wedbush Securities Inc. raised its position in Teledyne Technologies by 5.8% during the 2nd quarter. Wedbush Securities Inc. now owns 908 shares of the scientific and technical instruments company’s stock valued at $249,000 after purchasing an additional 50 shares during the last quarter. US Bancorp DE lifted its holdings in Teledyne Technologies by 1.0% in the 2nd quarter. US Bancorp DE now owns 5,962 shares of the scientific and technical instruments company’s stock worth $1,633,000 after buying an additional 58 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Teledyne Technologies by 2.9% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,221 shares of the scientific and technical instruments company’s stock worth $608,000 after buying an additional 62 shares during the period. Institutional investors own 84.77% of the company’s stock.
Shares of NYSE TDY opened at $340.36 on Tuesday. The firm has a fifty day simple moving average of $335.94 and a two-hundred day simple moving average of $297.86. Teledyne Technologies Incorporated has a 12 month low of $189.35 and a 12 month high of $351.52. The company has a current ratio of 1.48, a quick ratio of 1.00 and a debt-to-equity ratio of 0.33. The firm has a market capitalization of $12.54 billion, a PE ratio of 38.33, a price-to-earnings-growth 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 for the quarter, beating analysts’ consensus estimates of $2.53 by $0.31. Teledyne Technologies had a net margin of 12.27% and a return on equity of 15.52%. The firm had revenue of $802.20 million for the quarter, compared to analyst estimates of $786.55 million. During the same quarter in the previous year, the firm posted $2.43 EPS. The company’s revenue for the quarter was up 10.6% compared to the same quarter last year. On average, sell-side analysts predict that Teledyne Technologies Incorporated will post 10.42 earnings per share for the current year.
TDY has been the topic of a number of recent analyst reports. ValuEngine upgraded Teledyne Technologies from a “sell” rating to a “hold” rating in a research report on Tuesday. Cowen set a $375.00 target price on Teledyne Technologies and gave the company a “buy” rating in a report on Friday, September 27th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Teledyne Technologies has an average rating of “Buy” and a consensus price target of $312.50.
In other Teledyne Technologies news, Director Simon M. Lorne sold 2,191 shares of the firm’s stock in a transaction on Friday, October 25th. The stock was sold at an average price of $332.33, for a total transaction of $728,135.03. Following the completion of the transaction, the director now owns 31,374 shares of the company’s stock, valued at $10,426,521.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Sue Main sold 12,000 shares of the firm’s stock in a transaction on 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 transaction, the chief financial officer now directly owns 48,418 shares of the company’s stock, valued at approximately $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 currently owned by company insiders.
Teledyne Technologies 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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