Retirement Systems of Alabama Has $4.68 Million Stock Position in Teledyne Technologies Incorporated (NYSE:TDY)

Retirement Systems of Alabama lowered its holdings in shares of Teledyne Technologies Incorporated (NYSE:TDY) by 1.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 10,090 shares of the scientific and technical instruments company’s stock after selling 143 shares during the period. Retirement Systems of Alabama’s holdings in Teledyne Technologies were worth $4,683,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Covea Finance lifted its stake in shares of Teledyne Technologies by 25.1% in the fourth quarter. Covea Finance now owns 21,400 shares of the scientific and technical instruments company’s stock valued at $9,932,000 after buying an additional 4,300 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Teledyne Technologies by 6.0% in the third quarter. JPMorgan Chase & Co. now owns 1,150,065 shares of the scientific and technical instruments company’s stock valued at $503,338,000 after buying an additional 64,617 shares in the last quarter. Verition Fund Management LLC lifted its stake in shares of Teledyne Technologies by 240.5% in the third quarter. Verition Fund Management LLC now owns 36,524 shares of the scientific and technical instruments company’s stock valued at $15,985,000 after buying an additional 25,796 shares in the last quarter. West Oak Capital LLC lifted its stake in shares of Teledyne Technologies by 4,721.8% in the fourth quarter. West Oak Capital LLC now owns 11,283 shares of the scientific and technical instruments company’s stock valued at $5,237,000 after buying an additional 11,049 shares in the last quarter. Finally, National Bank of Canada FI lifted its stake in shares of Teledyne Technologies by 217.5% in the third quarter. National Bank of Canada FI now owns 53,819 shares of the scientific and technical instruments company’s stock valued at $23,554,000 after buying an additional 36,867 shares in the last quarter. Institutional investors and hedge funds own 91.58% of the company’s stock.

Teledyne Technologies Stock Performance

NYSE TDY opened at $511.38 on Tuesday. Teledyne Technologies Incorporated has a 52-week low of $355.41 and a 52-week high of $522.50. The company has a 50-day simple moving average of $480.48 and a 200 day simple moving average of $455.64. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.61 and a current ratio of 2.33. The company has a market capitalization of $23.83 billion, a PE ratio of 29.68, a price-to-earnings-growth ratio of 3.19 and a beta of 1.03.

Teledyne Technologies (NYSE:TDY) last issued its quarterly earnings data on Wednesday, January 22nd. The scientific and technical instruments company reported $5.52 EPS for the quarter, beating the consensus estimate of $5.23 by $0.29. The company had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.45 billion. Teledyne Technologies had a net margin of 14.45% and a return on equity of 9.94%. Teledyne Technologies’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $5.44 earnings per share. On average, research analysts predict that Teledyne Technologies Incorporated will post 21.59 EPS for the current year.

Insider Buying and Selling at Teledyne Technologies

In other news, Director Michael T. Smith sold 2,025 shares of the business’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 value of $968,456.25. Following the completion of the sale, the director now directly owns 54,935 shares in the company, valued at approximately $26,272,663.75. The trade was a 3.56 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO George C. Bobb III sold 6,308 shares of the business’s stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $507.77, for a total transaction of $3,203,013.16. Following the completion of the sale, the chief operating officer now owns 10,482 shares of the company’s stock, valued at approximately $5,322,445.14. The trade was a 37.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 32,190 shares of company stock worth $16,386,864 over the last three months. 2.14% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on TDY. Needham & Company LLC reaffirmed a “buy” rating and issued a $585.00 price objective on shares of Teledyne Technologies in a research note on Wednesday, February 5th. Bank of America raised shares of Teledyne Technologies from a “neutral” rating to a “buy” rating and raised their price target for the company from $450.00 to $550.00 in a research report on Friday, November 8th. UBS Group initiated coverage on shares of Teledyne Technologies in a research report on Tuesday, December 10th. They set a “buy” rating and a $585.00 price target on the stock. Finally, 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 report on Thursday, October 24th. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $538.00.

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.