Public Employees Retirement Association of Colorado reduced its stake in Teledyne Technologies Incorporated (NYSE:TDY) by 2.9% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 69,704 shares of the scientific and technical instruments company’s stock after selling 2,100 shares during the quarter. Public Employees Retirement Association of Colorado owned about 0.19% of Teledyne Technologies worth $19,090,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of the stock. Janus Henderson Group PLC lifted its stake in shares of Teledyne Technologies by 0.9% in the second quarter. Janus Henderson Group PLC now owns 2,186,982 shares of the scientific and technical instruments company’s stock worth $598,949,000 after acquiring an additional 19,732 shares during the period. Artisan Partners Limited Partnership increased its holdings in shares of Teledyne Technologies by 8.5% during the first quarter. Artisan Partners Limited Partnership now owns 535,709 shares of the scientific and technical instruments company’s stock valued at $126,968,000 after acquiring an additional 42,133 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Teledyne Technologies by 12.5% during the fourth quarter. Geode Capital Management LLC now owns 379,773 shares of the scientific and technical instruments company’s stock valued at $78,639,000 after acquiring an additional 42,048 shares in the last quarter. SG Capital Management LLC bought a new stake in shares of Teledyne Technologies during the first quarter valued at approximately $19,355,000. Finally, JPMorgan Chase & Co. increased its holdings in shares of Teledyne Technologies by 25.2% during the first quarter. JPMorgan Chase & Co. now owns 76,277 shares of the scientific and technical instruments company’s stock valued at $18,078,000 after acquiring an additional 15,347 shares in the last quarter. 84.10% of the stock is currently owned by institutional investors.
In related news, EVP Jason Vanwees sold 9,000 shares of the company’s stock in a transaction on Friday, June 7th. The stock was sold at an average price of $254.64, for a total transaction of $2,291,760.00. Following the completion of the sale, the executive vice president now owns 41,349 shares in the company, valued at $10,529,109.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Charles Crocker sold 2,000 shares of the company’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $291.00, for a total value of $582,000.00. Following the sale, the director now owns 46,496 shares of the company’s stock, valued at approximately $13,530,336. The disclosure for this sale can be found here. Insiders have sold 22,610 shares of company stock valued at $5,952,172 in the last quarter. 3.19% of the stock is currently owned by corporate insiders.
Several equities research analysts have recently commented on TDY shares. Cowen boosted their price objective on Teledyne Technologies from $275.00 to $300.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. Berenberg Bank started coverage on Teledyne Technologies in a report on Tuesday, June 11th. They set a “buy” rating and a $290.00 price objective for the company. ValuEngine downgraded Teledyne Technologies from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Finally, Needham & Company LLC boosted their price objective on Teledyne Technologies from $275.00 to $328.00 and gave the company a “buy” rating in a report on Thursday, July 25th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $293.75.
Teledyne Technologies stock traded down $4.80 during trading on Wednesday, hitting $288.62. 27,858 shares of the company were exchanged, compared to its average volume of 174,506. The firm has a 50 day simple moving average of $283.12. Teledyne Technologies Incorporated has a 52 week low of $189.35 and a 52 week high of $306.46. The company has a market capitalization of $10.79 billion, a P/E ratio of 32.50, a P/E/G ratio of 3.95 and a beta of 1.14. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.63 and a quick ratio of 1.08.
Teledyne Technologies (NYSE:TDY) last announced its quarterly earnings results on Wednesday, July 24th. The scientific and technical instruments company reported $2.80 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.40 by $0.40. Teledyne Technologies had a return on equity of 15.09% and a net margin of 12.04%. The business had revenue of $782.00 million during the quarter, compared to the consensus estimate of $781.55 million. During the same quarter in the prior year, the company posted $2.32 earnings per share. Teledyne Technologies’s revenue was up 6.8% compared to the same quarter last year. Equities analysts expect that Teledyne Technologies Incorporated will post 10 earnings per share for the current fiscal year.
About Teledyne Technologies
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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