Kentucky Retirement Systems Sells 44 Shares of Teledyne Technologies Incorporated (NYSE:TDY)

Kentucky Retirement Systems decreased its holdings in shares of Teledyne Technologies Incorporated (NYSE:TDY) by 1.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,215 shares of the scientific and technical instruments company’s stock after selling 44 shares during the period. Kentucky Retirement Systems’ holdings in Teledyne Technologies were worth $1,492,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Brooklyn Investment Group bought a new position in shares of Teledyne Technologies in the third quarter valued at approximately $32,000. Wilmington Savings Fund Society FSB bought a new position in shares of Teledyne Technologies in the third quarter valued at approximately $39,000. Newbridge Financial Services Group Inc. acquired a new stake in shares of Teledyne Technologies in the fourth quarter valued at approximately $46,000. Allworth Financial LP increased its holdings in shares of Teledyne Technologies by 15.1% in the fourth quarter. Allworth Financial LP now owns 206 shares of the scientific and technical instruments company’s stock valued at $105,000 after purchasing an additional 27 shares in the last quarter. Finally, Salem Investment Counselors Inc. grew its holdings in Teledyne Technologies by 85.5% during the 4th quarter. Salem Investment Counselors Inc. now owns 230 shares of the scientific and technical instruments company’s stock worth $107,000 after acquiring an additional 106 shares during the period. Institutional investors own 91.58% of the company’s stock.

Analyst Ratings Changes

TDY has been the subject of a number of analyst reports. Needham & Company LLC reaffirmed a “buy” rating and set a $585.00 target price on shares of Teledyne Technologies in a report on Wednesday, February 5th. Bank of America upgraded shares of Teledyne Technologies from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $450.00 to $550.00 in a research note on Friday, November 8th. Finally, UBS Group began coverage on shares of Teledyne Technologies in a research note on Tuesday, December 10th. They set a “buy” rating and a $585.00 price objective on the stock. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Teledyne Technologies has a consensus rating of “Buy” and a consensus price target of $538.00.

Teledyne Technologies Stock Down 1.9 %

Shares of TDY opened at $491.27 on Monday. Teledyne Technologies Incorporated has a 52 week low of $355.41 and a 52 week high of $522.50. The firm has a market cap of $22.89 billion, a P/E ratio of 28.51, a price-to-earnings-growth ratio of 3.14 and a beta of 1.03. The firm’s 50-day simple moving average is $485.23 and its 200 day simple moving average is $461.62. 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 results on Wednesday, January 22nd. The scientific and technical instruments company reported $5.52 EPS for the quarter, beating analysts’ consensus estimates of $5.23 by $0.29. Teledyne Technologies had a net margin of 14.45% and a return on equity of 9.94%. The business had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.45 billion. During the same quarter in the prior year, the business earned $5.44 EPS. Teledyne Technologies’s quarterly revenue was up 5.4% on a year-over-year basis. On average, analysts forecast that Teledyne Technologies Incorporated will post 21.55 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Michael T. Smith sold 2,025 shares of the company’s stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $478.25, for a total transaction of $968,456.25. Following the completion of the sale, the director now owns 54,935 shares of the company’s stock, valued at approximately $26,272,663.75. This represents a 3.56 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Chairman Robert Mehrabian sold 5,768 shares of the company’s stock in a transaction that occurred 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 sale, the chairman now directly owns 144,553 shares of the company’s stock, valued at approximately $74,910,255.66. This trade represents a 3.84 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 32,190 shares of company stock worth $16,386,864 in the last quarter. Corporate insiders own 2.14% of the company’s stock.

About Teledyne Technologies

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.