Commonwealth of Pennsylvania Public School Empls Retrmt SYS Lowers Stake in Teledyne Technologies Incorporated (NYSE:TDY)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS reduced its stake in shares of Teledyne Technologies Incorporated (NYSE:TDY) by 2.7% in the fourth quarter, Holdings Channel reports. The firm owned 9,909 shares of the scientific and technical instruments company’s stock after selling 275 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Teledyne Technologies were worth $4,599,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Amundi grew its holdings in Teledyne Technologies by 11.9% during the 4th quarter. Amundi now owns 124,874 shares of the scientific and technical instruments company’s stock worth $57,687,000 after acquiring an additional 13,244 shares in the last quarter. Covea Finance grew its holdings in Teledyne Technologies by 25.1% during the 4th quarter. Covea Finance now owns 21,400 shares of the scientific and technical instruments company’s stock worth $9,932,000 after acquiring an additional 4,300 shares in the last quarter. ING Groep NV grew its holdings in Teledyne Technologies by 144.9% during the 4th quarter. ING Groep NV now owns 5,952 shares of the scientific and technical instruments company’s stock worth $2,763,000 after acquiring an additional 3,522 shares in the last quarter. JPMorgan Chase & Co. grew its holdings 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 worth $503,338,000 after acquiring an additional 64,617 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings 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 worth $3,024,000 after acquiring an additional 640 shares in the last quarter. 91.58% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Teledyne Technologies

In related news, Chairman Robert Mehrabian sold 5,768 shares of the stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $518.22, for a total value of $2,989,092.96. Following the transaction, the chairman now owns 144,553 shares in the company, valued at approximately $74,910,255.66. This represents a 3.84 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Cynthia Y. Belak sold 5,745 shares of the stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $508.34, for a total transaction of $2,920,413.30. Following the completion of the transaction, the vice president now owns 4,962 shares in the company, valued at approximately $2,522,383.08. This trade represents a 53.66 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 34,571 shares of company stock valued at $17,709,721 in the last three months. 2.14% of the stock is owned by insiders.

Teledyne Technologies Stock Performance

TDY stock opened at $502.73 on Monday. The firm has a market cap of $23.55 billion, a price-to-earnings ratio of 29.18, a PEG ratio of 3.14 and a beta of 1.03. The firm has a 50-day simple moving average of $497.26 and a two-hundred day simple moving average of $472.38. Teledyne Technologies Incorporated has a one year low of $355.41 and a one year high of $522.50. 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 announced its quarterly earnings data on Wednesday, January 22nd. The scientific and technical instruments company reported $5.52 EPS for the quarter, beating the consensus estimate of $5.23 by $0.29. The firm had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.45 billion. Teledyne Technologies had a net margin of 14.45% and a return on equity of 9.94%. Teledyne Technologies’s revenue was up 5.4% on a year-over-year basis. During the same period last year, the firm posted $5.44 EPS. On average, equities analysts forecast that Teledyne Technologies Incorporated will post 21.55 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

TDY has been the topic of several recent research reports. UBS Group initiated coverage on shares of Teledyne Technologies in a report on Tuesday, December 10th. They set a “buy” rating and a $585.00 target price on the stock. Needham & Company LLC reissued a “buy” rating and set a $585.00 price target on shares of Teledyne Technologies in a research report on Wednesday, February 5th. Finally, Bank of America increased their price target on shares of Teledyne Technologies from $550.00 to $600.00 and gave the company a “buy” rating in a research report on Monday, March 17th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Teledyne Technologies presently has a consensus rating of “Buy” and an average target price of $548.00.

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.