Virginia Retirement Systems ET AL lifted its stake in shares of Teledyne Technologies Incorporated (NYSE:TDY) by 17.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,200 shares of the scientific and technical instruments company’s stock after acquiring an additional 1,400 shares during the quarter. Virginia Retirement Systems ET AL’s holdings in Teledyne Technologies were worth $2,180,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in TDY. Norges Bank bought a new stake in shares of Teledyne Technologies during the 4th quarter worth $56,856,000. BlackRock Inc. boosted its stake in shares of Teledyne Technologies by 5.8% during the 4th quarter. BlackRock Inc. now owns 3,860,980 shares of the scientific and technical instruments company’s stock worth $799,492,000 after acquiring an additional 210,116 shares in the last quarter. Vanguard Group Inc boosted its stake in shares of Teledyne Technologies by 3.3% during the 3rd quarter. Vanguard Group Inc now owns 3,054,919 shares of the scientific and technical instruments company’s stock worth $753,588,000 after acquiring an additional 96,848 shares in the last quarter. SG Capital Management LLC bought a new stake in shares of Teledyne Technologies during the 1st quarter worth $19,355,000. Finally, Westfield Capital Management Co. LP boosted its stake in shares of Teledyne Technologies by 8.9% during the 4th quarter. Westfield Capital Management Co. LP now owns 667,232 shares of the scientific and technical instruments company’s stock worth $138,164,000 after acquiring an additional 54,400 shares in the last quarter. 84.99% of the stock is owned by institutional investors and hedge funds.
Shares of Teledyne Technologies stock traded down $0.60 during midday trading on Wednesday, hitting $246.01. The company’s stock had a trading volume of 123,400 shares, compared to its average volume of 175,809. The stock has a market cap of $8.83 billion, a PE ratio of 27.70, a price-to-earnings-growth ratio of 3.38 and a beta of 1.10. The company has a quick ratio of 1.00, a current ratio of 1.54 and a debt-to-equity ratio of 0.31. Teledyne Technologies Incorporated has a 1-year low of $189.35 and a 1-year high of $260.99.
Teledyne Technologies (NYSE:TDY) last issued its earnings results on Wednesday, April 24th. The scientific and technical instruments company reported $2.02 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.92 by $0.10. The business had revenue of $745.20 million during the quarter, compared to analysts’ expectations of $728.30 million. Teledyne Technologies had a return on equity of 14.87% and a net margin of 11.61%. Teledyne Technologies’s revenue was up 7.1% compared to the same quarter last year. During the same quarter last year, the firm posted $1.81 earnings per share. Analysts expect that Teledyne Technologies Incorporated will post 9.5 EPS for the current fiscal year.
In related news, Director Simon M. Lorne sold 2,184 shares of the stock in a transaction on Wednesday, April 24th. The stock was sold at an average price of $246.82, for a total transaction of $539,054.88. Following the completion of the sale, the director now directly owns 31,023 shares in the company, valued at $7,657,096.86. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Michael T. Smith sold 551 shares of the stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $235.05, for a total value of $129,512.55. Following the sale, the director now owns 36,638 shares of the company’s stock, valued at $8,611,761.90. The disclosure for this sale can be found here. In the last ninety days, insiders sold 34,919 shares of company stock valued at $8,753,462. 3.19% of the stock is currently owned by insiders.
Several research firms have recently weighed in on TDY. Zacks Investment Research raised Teledyne Technologies from a “hold” rating to a “buy” rating and set a $257.00 price objective for the company in a research note on Tuesday, March 26th. Cowen initiated coverage on Teledyne Technologies in a research report on Tuesday, April 2nd. They issued an “outperform” rating and a $265.00 target price for the company. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $248.00 target price (up previously from $240.00) on shares of Teledyne Technologies in a research report on Friday, March 15th.
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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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