Principal Financial Group Inc. Has $24.44 Million Position in Teledyne Technologies Incorporated (NYSE:TDY)

Principal Financial Group Inc. lifted its stake in shares of Teledyne Technologies Incorporated (NYSE:TDY) by 1.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 55,849 shares of the scientific and technical instruments company’s stock after purchasing an additional 915 shares during the quarter. Principal Financial Group Inc.’s holdings in Teledyne Technologies were worth $24,443,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in TDY. Verition Fund Management LLC increased its holdings in shares of Teledyne Technologies by 240.5% during the third quarter. Verition Fund Management LLC now owns 36,524 shares of the scientific and technical instruments company’s stock worth $15,985,000 after buying an additional 25,796 shares in the last quarter. National Bank of Canada FI increased its holdings in Teledyne Technologies by 217.5% in the 3rd quarter. National Bank of Canada FI now owns 53,819 shares of the scientific and technical instruments company’s stock worth $23,554,000 after purchasing an additional 36,867 shares in the last quarter. Polar Asset Management Partners Inc. bought a new position in Teledyne Technologies in the third quarter valued at about $5,208,000. Royal London Asset Management Ltd. boosted its stake in shares of Teledyne Technologies by 11.7% during the second quarter. Royal London Asset Management Ltd. now owns 20,498 shares of the scientific and technical instruments company’s stock valued at $7,953,000 after purchasing an additional 2,152 shares in the last quarter. Finally, Bank of Montreal Can grew its holdings in shares of Teledyne Technologies by 14.2% during the second quarter. Bank of Montreal Can now owns 38,115 shares of the scientific and technical instruments company’s stock worth $14,922,000 after purchasing an additional 4,731 shares during the last quarter. 91.58% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

TDY has been the subject of a number of research reports. Needham & Company LLC raised their price objective on shares of Teledyne Technologies from $528.00 to $550.00 and gave the company a “buy” rating in a report on Monday, November 11th. TD Cowen raised their price target on shares of Teledyne Technologies from $450.00 to $500.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. UBS Group initiated coverage on shares of Teledyne Technologies in a research note on Tuesday, December 10th. They issued a “buy” rating and a $585.00 price objective on the stock. StockNews.com upgraded Teledyne Technologies from a “hold” rating to a “buy” rating in a report on Wednesday, October 2nd. Finally, Bank of America raised Teledyne Technologies from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $450.00 to $550.00 in a report on Friday, November 8th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $531.00.

Insiders Place Their Bets

In related news, Director Michael T. Smith sold 2,025 shares of the stock in a transaction 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 transaction, the director now directly owns 54,935 shares of the company’s stock, valued at $26,272,663.75. This represents a 3.56 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Robert Mehrabian sold 46,075 shares of Teledyne Technologies stock in a transaction on Monday, November 11th. The shares were sold at an average price of $487.33, for a total transaction of $22,453,729.75. Following the completion of the sale, the chairman now directly owns 171,802 shares of the company’s stock, valued at approximately $83,724,268.66. This trade represents a 21.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 53,525 shares of company stock worth $26,080,464. Corporate insiders own 2.14% of the company’s stock.

Teledyne Technologies Price Performance

Shares of NYSE TDY opened at $475.01 on Thursday. The company has a market capitalization of $22.14 billion, a PE ratio of 24.01, a P/E/G ratio of 3.30 and a beta of 1.01. The company has a quick ratio of 1.35, a current ratio of 2.00 and a debt-to-equity ratio of 0.28. Teledyne Technologies Incorporated has a twelve month low of $355.41 and a twelve month high of $492.00. The firm has a fifty day simple moving average of $470.86 and a 200 day simple moving average of $433.95.

Teledyne Technologies (NYSE:TDY) last announced its quarterly earnings data on Wednesday, October 23rd. The scientific and technical instruments company reported $5.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.97 by $0.13. Teledyne Technologies had a return on equity of 10.02% and a net margin of 16.88%. The company had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.42 billion. During the same period in the previous year, the business earned $5.05 EPS. The firm’s revenue was up 2.9% compared to the same quarter last year. On average, sell-side analysts forecast that Teledyne Technologies Incorporated will post 19.45 EPS for the current year.

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.