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 Teledyne Technologies Incorporated (NYSE:TDY) by 6.4% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor 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 quarter.

Other hedge funds have also bought and sold shares of the company. Tortoise Investment Management LLC lifted its stake in shares of Teledyne Technologies by 48.0% in the second quarter. Tortoise Investment Management LLC now owns 74 shares of the scientific and technical instruments company’s stock valued at $29,000 after buying an additional 24 shares in the last quarter. Metis Global Partners LLC raised its holdings in shares of Teledyne Technologies by 1.6% in the 3rd quarter. Metis Global Partners LLC now owns 1,514 shares of the scientific and technical instruments company’s stock worth $663,000 after acquiring an additional 24 shares during the last quarter. Crumly & Associates Inc. lifted its position in Teledyne Technologies by 3.8% in the 3rd quarter. Crumly & Associates Inc. now owns 677 shares of the scientific and technical instruments company’s stock valued at $296,000 after acquiring an additional 25 shares in the last quarter. Raymond James Trust N.A. lifted its position in Teledyne Technologies by 4.8% in the 3rd quarter. Raymond James Trust N.A. now owns 550 shares of the scientific and technical instruments company’s stock valued at $241,000 after acquiring an additional 25 shares in the last quarter. Finally, Bleakley Financial Group LLC boosted its stake in Teledyne Technologies by 4.0% during the 3rd quarter. Bleakley Financial Group LLC now owns 681 shares of the scientific and technical instruments company’s stock valued at $298,000 after purchasing an additional 26 shares during the last quarter. Institutional investors and hedge funds own 91.58% of the company’s stock.

Insider Buying and Selling at Teledyne Technologies

In related news, Chairman Robert Mehrabian sold 3,925 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $490.50, for a total transaction of $1,925,212.50. Following the sale, the chairman now directly owns 171,802 shares in the company, valued at approximately $84,268,881. This represents a 2.23 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Michael T. Smith sold 2,025 shares of the firm’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $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 have sold a total of 52,025 shares of company stock worth $25,347,399 over the last ninety days. 2.14% of the stock is currently owned by company insiders.

Teledyne Technologies Price Performance

TDY opened at $471.06 on Wednesday. Teledyne Technologies Incorporated has a fifty-two week low of $355.41 and a fifty-two week high of $492.00. The firm has a 50-day moving average of $468.58 and a 200 day moving average of $430.83. 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 firm has a market cap 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 (NYSE:TDY) last released its earnings results on Wednesday, October 23rd. The scientific and technical instruments company reported $5.10 earnings per share for the quarter, beating analysts’ consensus estimates of $4.97 by $0.13. The firm had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.42 billion. Teledyne Technologies had a net margin of 16.88% and a return on equity of 10.02%. The company’s revenue was up 2.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $5.05 EPS. On average, research analysts expect that Teledyne Technologies Incorporated will post 19.45 EPS for the current year.

Wall Street Analysts Forecast Growth

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

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.