Russell Investments Group Ltd. trimmed its holdings in shares of Teledyne Technologies Incorporated (NYSE:TDY) by 41.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 27,194 shares of the scientific and technical instruments company’s stock after selling 18,889 shares during the period. Russell Investments Group Ltd.’s holdings in Teledyne Technologies were worth $8,077,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also made changes to their positions in TDY. Allred Capital Management LLC purchased a new stake in Teledyne Technologies during the 1st quarter worth $28,000. Cornerstone Advisors Inc. boosted its position in Teledyne Technologies by 650.0% during the 4th quarter. Cornerstone Advisors Inc. now owns 90 shares of the scientific and technical instruments company’s stock worth $31,000 after purchasing an additional 78 shares during the period. Parallel Advisors LLC boosted its position in Teledyne Technologies by 62.7% during the 4th quarter. Parallel Advisors LLC now owns 96 shares of the scientific and technical instruments company’s stock worth $33,000 after purchasing an additional 37 shares during the period. Archer Investment Corp purchased a new stake in Teledyne Technologies during the 4th quarter worth $33,000. Finally, Exchange Traded Concepts LLC boosted its position in Teledyne Technologies by 552.4% during the 1st quarter. Exchange Traded Concepts LLC now owns 137 shares of the scientific and technical instruments company’s stock worth $41,000 after purchasing an additional 116 shares during the period. 84.59% of the stock is owned by hedge funds and other institutional investors.
A number of analysts recently weighed in on TDY shares. Needham & Company LLC decreased their price target on shares of Teledyne Technologies from $350.00 to $345.00 and set a “buy” rating for the company in a research report on Thursday, April 23rd. Zacks Investment Research upgraded shares of Teledyne Technologies from a “hold” rating to a “buy” rating and set a $393.00 price objective on the stock in a report on Tuesday, January 28th. ValuEngine upgraded shares of Teledyne Technologies from a “sell” rating to a “hold” rating in a report on Tuesday, January 28th. Finally, Cowen boosted their price objective on shares of Teledyne Technologies from $375.00 to $415.00 and gave the stock an “outperform” rating in a report on Tuesday, February 11th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $360.75.
In other news, Director Kenneth C. Dahlberg sold 1,532 shares of the company’s stock in a transaction dated Friday, April 24th. The shares were sold at an average price of $312.73, for a total value of $479,102.36. Following the sale, the director now owns 18,001 shares in the company, valued at approximately $5,629,452.73. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Sue Main sold 8,000 shares of the stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $331.57, for a total transaction of $2,652,560.00. Following the sale, the chief financial officer now owns 45,332 shares in the company, valued at approximately $15,030,731.24. The disclosure for this sale can be found here. In the last 90 days, insiders sold 61,368 shares of company stock worth $20,422,495. Company insiders own 3.15% of the company’s stock.
Shares of TDY stock opened at $338.29 on Friday. Teledyne Technologies Incorporated has a 12 month low of $195.34 and a 12 month high of $398.99. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.80 and a quick ratio of 1.27. The firm has a market capitalization of $12.21 billion, a P/E ratio of 31.12 and a beta of 1.00. The company’s fifty day moving average price is $318.42 and its two-hundred day moving average price is $338.18.
Teledyne Technologies (NYSE:TDY) last issued its quarterly earnings data on Wednesday, April 22nd. The scientific and technical instruments company reported $2.17 EPS for the quarter, missing analysts’ consensus estimates of $2.19 by ($0.02). The firm had revenue of $784.60 million during the quarter, compared to analyst estimates of $785.00 million. Teledyne Technologies had a return on equity of 15.49% and a net margin of 12.78%. The business’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.02 EPS. On average, sell-side analysts anticipate that Teledyne Technologies Incorporated will post 9.54 EPS for the current year.
Teledyne Technologies Profile
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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