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

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

Other hedge funds have also modified their holdings of the company. Stratos Wealth Partners LTD. raised its holdings in Teledyne Technologies by 4.4% in the fourth quarter. Stratos Wealth Partners LTD. now owns 500 shares of the scientific and technical instruments company’s stock valued at $232,000 after buying an additional 21 shares during the period. Ironwood Investment Management LLC raised its holdings in Teledyne Technologies by 0.8% in the fourth quarter. Ironwood Investment Management LLC now owns 2,876 shares of the scientific and technical instruments company’s stock valued at $1,335,000 after buying an additional 22 shares during the period. Raymond James Trust N.A. raised its holdings in Teledyne Technologies by 4.8% in the third quarter. Raymond James Trust N.A. now owns 550 shares of the scientific and technical instruments company’s stock valued at $241,000 after buying an additional 25 shares during the period. New York Life Investment Management LLC raised its holdings in Teledyne Technologies by 0.4% in the fourth quarter. New York Life Investment Management LLC now owns 6,214 shares of the scientific and technical instruments company’s stock valued at $2,884,000 after buying an additional 25 shares during the period. Finally, Allworth Financial LP raised its holdings in 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 buying an additional 27 shares during the period. 91.58% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently commented on TDY shares. UBS Group started coverage on shares of Teledyne Technologies in a report on Tuesday, December 10th. They issued a “buy” rating and a $585.00 price target on the stock. Bank of America lifted their price objective on shares of Teledyne Technologies from $550.00 to $600.00 and gave the company a “buy” rating in a research note on Monday, March 17th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $585.00 price objective on shares of Teledyne Technologies in a research note on Wednesday, February 5th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Teledyne Technologies presently has a consensus rating of “Buy” and a consensus price target of $548.00.

Teledyne Technologies Trading Up 0.7 %

TDY opened at $502.73 on Friday. The firm has a market capitalization of $23.55 billion, a P/E ratio of 29.18, a P/E/G ratio of 3.14 and a beta of 1.03. The firm’s 50 day moving average is $497.26 and its 200-day moving average is $472.08. Teledyne Technologies Incorporated has a 52-week low of $355.41 and a 52-week high of $522.50. The company has a quick ratio of 1.61, a current ratio of 2.33 and a debt-to-equity ratio of 0.28.

Teledyne Technologies (NYSE:TDY) last issued its quarterly earnings results on Wednesday, January 22nd. The scientific and technical instruments company reported $5.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.23 by $0.29. The business had revenue of $1.50 billion during 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 revenue was up 5.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $5.44 earnings per share. Analysts expect that Teledyne Technologies Incorporated will post 21.55 EPS for the current fiscal year.

Insider Buying and Selling

In other Teledyne Technologies news, Chairman Robert Mehrabian sold 5,768 shares of Teledyne Technologies stock in a transaction on Friday, January 31st. The shares were sold at an average price of $518.22, for a total value of $2,989,092.96. Following the completion of the transaction, the chairman now owns 144,553 shares of the company’s stock, valued at $74,910,255.66. The trade was a 3.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, VP Cynthia Y. Belak sold 5,745 shares of Teledyne Technologies stock in a transaction on Friday, January 24th. The stock was sold at an average price of $508.34, for a total transaction of $2,920,413.30. Following the completion of the transaction, 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 position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 34,571 shares of company stock worth $17,709,721. Insiders own 2.14% of the company’s stock.

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.