Teledyne Technologies Incorporated (NYSE:TDY) Shares Sold by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System decreased its position in shares of Teledyne Technologies Incorporated (NYSE:TDY) by 4.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,562 shares of the scientific and technical instruments company’s stock after selling 119 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Teledyne Technologies were worth $1,189,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Brooklyn Investment Group acquired a new position in shares of Teledyne Technologies during the third quarter valued at $32,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Teledyne Technologies during the third quarter valued at $39,000. Newbridge Financial Services Group Inc. acquired a new position in shares of Teledyne Technologies during the fourth quarter valued at $46,000. Tortoise Investment Management LLC boosted its holdings in shares of Teledyne Technologies by 63.2% during the fourth quarter. Tortoise Investment Management LLC now owns 124 shares of the scientific and technical instruments company’s stock valued at $58,000 after acquiring an additional 48 shares during the period. Finally, Private Trust Co. NA boosted its holdings in shares of Teledyne Technologies by 43.0% during the fourth quarter. Private Trust Co. NA now owns 173 shares of the scientific and technical instruments company’s stock valued at $80,000 after acquiring an additional 52 shares during the period. Institutional investors and hedge funds own 91.58% of the company’s stock.

Teledyne Technologies Price Performance

Shares of Teledyne Technologies stock opened at $502.73 on Friday. The company has a current ratio of 2.33, a quick ratio of 1.61 and a debt-to-equity ratio of 0.28. The company’s 50-day moving average price is $497.26 and its two-hundred day moving average price is $472.08. Teledyne Technologies Incorporated has a 52 week low of $355.41 and a 52 week high of $522.50. The stock has a market cap of $23.55 billion, a PE ratio of 29.18, a price-to-earnings-growth ratio of 3.14 and a beta of 1.03.

Teledyne Technologies (NYSE:TDY) last issued its quarterly earnings results on Wednesday, January 22nd. The scientific and technical instruments company reported $5.52 EPS for the quarter, topping the consensus estimate of $5.23 by $0.29. Teledyne Technologies had a net margin of 14.45% and a return on equity of 9.94%. The firm had revenue of $1.50 billion for the quarter, compared to analysts’ expectations of $1.45 billion. During the same period in the previous year, the business earned $5.44 earnings per share. Teledyne Technologies’s revenue for the quarter was up 5.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Teledyne Technologies Incorporated will post 21.55 EPS for the current fiscal year.

Insiders Place Their Bets

In other Teledyne Technologies news, VP Cynthia Y. Belak sold 5,745 shares of the company’s stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $508.34, for a total transaction of $2,920,413.30. Following the completion of the sale, the vice president now directly owns 4,962 shares of the company’s stock, valued at approximately $2,522,383.08. This represents a 53.66 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO George C. Bobb III sold 6,308 shares of the company’s stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $507.77, for a total transaction of $3,203,013.16. Following the sale, the chief operating officer now directly owns 10,482 shares of the company’s stock, valued at $5,322,445.14. This represents a 37.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 34,571 shares of company stock worth $17,709,721. Company insiders own 2.14% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Bank of America upped their price objective on shares of Teledyne Technologies from $550.00 to $600.00 and gave the stock a “buy” rating in a report on Monday, March 17th. UBS Group assumed coverage on shares of Teledyne Technologies in a report on Tuesday, December 10th. They issued a “buy” rating and a $585.00 price objective for the company. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $585.00 price objective on shares of Teledyne Technologies in a report on Wednesday, February 5th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $548.00.

Teledyne Technologies Company 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.