State of New Jersey Common Pension Fund D Sells 112 Shares of Teledyne Technologies Incorporated (NYSE:TDY)

State of New Jersey Common Pension Fund D lowered its holdings in Teledyne Technologies Incorporated (NYSE:TDY) by 0.7% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 16,633 shares of the scientific and technical instruments company’s stock after selling 112 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Teledyne Technologies were worth $7,720,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Pathway Financial Advisors LLC bought a new position in shares of Teledyne Technologies during the 4th quarter worth approximately $202,000. Allworth Financial LP lifted its position in Teledyne Technologies by 15.1% during the fourth quarter. Allworth Financial LP now owns 206 shares of the scientific and technical instruments company’s stock valued at $105,000 after acquiring an additional 27 shares during the last quarter. New York State Teachers Retirement System lifted its position in Teledyne Technologies by 9.8% during the fourth quarter. New York State Teachers Retirement System now owns 43,595 shares of the scientific and technical instruments company’s stock valued at $20,234,000 after acquiring an additional 3,907 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in Teledyne Technologies by 10.5% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 318,712 shares of the scientific and technical instruments company’s stock valued at $145,974,000 after acquiring an additional 30,157 shares during the last quarter. Finally, Newbridge Financial Services Group Inc. purchased a new stake in Teledyne Technologies during the fourth quarter valued at approximately $46,000. Institutional investors own 91.58% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on TDY shares. Needham & Company LLC reissued a “buy” rating and set a $585.00 target price on shares of Teledyne Technologies in a research report on Wednesday, February 5th. TD Cowen raised their price target on shares of Teledyne Technologies from $450.00 to $500.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Bank of America raised shares of Teledyne Technologies from a “neutral” rating to a “buy” rating and raised their price target for the stock from $450.00 to $550.00 in a report on Friday, November 8th. Finally, UBS Group began coverage on shares of Teledyne Technologies in a report on Tuesday, December 10th. They issued a “buy” rating and a $585.00 price target for the company. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $538.00.

Teledyne Technologies Trading Up 1.5 %

NYSE TDY opened at $497.14 on Wednesday. The company has a fifty day simple moving average of $483.38 and a two-hundred day simple moving average of $459.01. The stock has a market cap of $23.17 billion, a P/E ratio of 28.85, a P/E/G ratio of 3.19 and a beta of 1.03. Teledyne Technologies Incorporated has a 12-month low of $355.41 and a 12-month high of $522.50. The company has a current ratio of 2.33, a quick ratio of 1.61 and a debt-to-equity ratio of 0.28.

Teledyne Technologies (NYSE:TDY) last released its quarterly earnings data on Wednesday, January 22nd. The scientific and technical instruments company reported $5.52 earnings per share for the quarter, topping analysts’ consensus estimates of $5.23 by $0.29. The firm had revenue of $1.50 billion for 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%. The business’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $5.44 earnings per share. On average, analysts forecast that Teledyne Technologies Incorporated will post 21.59 earnings per share for the current year.

Insider Transactions at Teledyne Technologies

In other news, COO George C. Bobb III sold 6,308 shares of the stock in a transaction on Friday, January 24th. The shares were sold at an average price of $507.77, for a total value of $3,203,013.16. Following the sale, the chief operating officer now owns 10,482 shares in the company, valued at $5,322,445.14. This represents a 37.57 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Robert Mehrabian sold 5,768 shares of the stock in a transaction on Friday, January 31st. The stock was sold at an average price of $518.22, for a total transaction of $2,989,092.96. Following the completion of the sale, the chairman now owns 144,553 shares in the company, valued at $74,910,255.66. The trade was a 3.84 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 32,190 shares of company stock worth $16,386,864 over the last 90 days. 2.14% of the stock is currently owned by company insiders.

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.