Teledyne Technologies Incorporated (NYSE:TDY) Shares Bought by State Board of Administration of Florida Retirement System

State Board of Administration of Florida Retirement System grew its position in shares of Teledyne Technologies Incorporated (NYSE:TDY) by 3.6% in the 1st quarter, HoldingsChannel.com reports. The fund owned 48,288 shares of the scientific and technical instruments company’s stock after acquiring an additional 1,665 shares during the period. State Board of Administration of Florida Retirement System’s holdings in Teledyne Technologies were worth $21,602,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of Teledyne Technologies by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 5,517,922 shares of the scientific and technical instruments company’s stock valued at $2,462,593,000 after buying an additional 77,890 shares in the last quarter. King Luther Capital Management Corp grew its stake in Teledyne Technologies by 1.6% during the 4th quarter. King Luther Capital Management Corp now owns 613,023 shares of the scientific and technical instruments company’s stock worth $273,586,000 after buying an additional 9,843 shares during the last quarter. Norges Bank bought a new position in Teledyne Technologies during the 4th quarter worth $243,111,000. Northern Trust Corp grew its stake in Teledyne Technologies by 1.9% during the 4th quarter. Northern Trust Corp now owns 519,334 shares of the scientific and technical instruments company’s stock worth $231,774,000 after buying an additional 9,455 shares during the last quarter. Finally, Sei Investments Co. grew its stake in shares of Teledyne Technologies by 2.1% in the first quarter. Sei Investments Co. now owns 352,166 shares of the scientific and technical instruments company’s stock worth $151,193,000 after purchasing an additional 7,114 shares in the last quarter. 91.58% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. TD Cowen decreased their price target on Teledyne Technologies from $475.00 to $450.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. Bank of America lowered Teledyne Technologies from a “buy” rating to a “neutral” rating and cut their price objective for the company from $490.00 to $400.00 in a report on Friday, April 26th. StockNews.com cut shares of Teledyne Technologies from a “buy” rating to a “hold” rating in a research note on Thursday, April 25th. Finally, Needham & Company LLC lowered their price objective on shares of Teledyne Technologies from $510.00 to $455.00 and set a “buy” rating on the stock in a research note on Thursday, April 25th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $470.83.

Teledyne Technologies Trading Down 0.6 %

Shares of Teledyne Technologies stock traded down $2.30 during trading on Thursday, hitting $399.76. The stock had a trading volume of 129,070 shares, compared to its average volume of 245,123. The stock has a 50 day simple moving average of $392.97 and a 200 day simple moving average of $410.57. The company has a market capitalization of $18.94 billion, a PE ratio of 21.74, a P/E/G ratio of 2.84 and a beta of 1.00. The company has a quick ratio of 1.29, a current ratio of 1.81 and a debt-to-equity ratio of 0.28. Teledyne Technologies Incorporated has a 1 year low of $355.41 and a 1 year high of $448.19.

Teledyne Technologies (NYSE:TDY) last released its earnings results on Wednesday, April 24th. The scientific and technical instruments company reported $4.55 earnings per share for the quarter, missing the consensus estimate of $4.63 by ($0.08). The firm had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.39 billion. Teledyne Technologies had a return on equity of 10.54% and a net margin of 15.81%. The business’s revenue was down 2.4% on a year-over-year basis. During the same period last year, the business earned $4.53 earnings per share. On average, research analysts expect that Teledyne Technologies Incorporated will post 19.34 EPS for the current fiscal year.

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.