California Public Employees Retirement System Trims Holdings in Teledyne Technologies Incorporated (NYSE:TDY)

California Public Employees Retirement System reduced its stake in shares of Teledyne Technologies Incorporated (NYSE:TDY) by 3.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 74,733 shares of the scientific and technical instruments company’s stock after selling 2,542 shares during the quarter. California Public Employees Retirement System owned approximately 0.16% of Teledyne Technologies worth $34,686,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. Wilmington Savings Fund Society FSB bought a new position in Teledyne Technologies in the 3rd quarter worth about $39,000. Millstone Evans Group LLC bought a new position in Teledyne Technologies in the fourth quarter worth approximately $42,000. Newbridge Financial Services Group Inc. purchased a new position in Teledyne Technologies during the 4th quarter worth $46,000. Tortoise Investment Management LLC lifted its holdings in shares of Teledyne Technologies by 63.2% in the 4th quarter. Tortoise Investment Management LLC now owns 124 shares of the scientific and technical instruments company’s stock worth $58,000 after buying an additional 48 shares during the period. Finally, Private Trust Co. NA lifted its holdings in shares of Teledyne Technologies by 43.0% in the 4th quarter. Private Trust Co. NA now owns 173 shares of the scientific and technical instruments company’s stock worth $80,000 after buying an additional 52 shares during the period. Hedge funds and other institutional investors own 91.58% of the company’s stock.

Insiders Place Their Bets

In other Teledyne Technologies news, Chairman Robert Mehrabian sold 5,768 shares of the firm’s 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 approximately $74,910,255.66. This trade represents a 3.84 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Cynthia Y. Belak sold 5,745 shares of the business’s stock in a transaction on Friday, January 24th. The shares were sold at an average price of $508.34, for a total transaction of $2,920,413.30. Following the sale, the vice president now directly owns 4,962 shares in the company, valued at $2,522,383.08. This trade represents a 53.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 34,571 shares of company stock valued at $17,709,721. 1.50% of the stock is currently owned by corporate insiders.

Teledyne Technologies Trading Up 0.4 %

NYSE TDY opened at $500.16 on Thursday. 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 moving average price of $501.65 and a 200 day moving average price of $476.36. The company has a quick ratio of 1.61, a current ratio of 2.33 and a debt-to-equity ratio of 0.28. The firm has a market cap of $23.43 billion, a PE ratio of 29.03, a price-to-earnings-growth ratio of 3.14 and a beta of 1.03.

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 for the quarter, compared to the consensus estimate of $1.45 billion. Teledyne Technologies had a return on equity of 9.94% and a net margin of 14.45%. The business’s quarterly revenue was up 5.4% on a year-over-year basis. During the same period in the prior year, the firm posted $5.44 earnings per share. As a group, sell-side analysts forecast that Teledyne Technologies Incorporated will post 21.55 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts recently weighed in on the company. StockNews.com downgraded Teledyne Technologies from a “buy” rating to a “hold” rating in a report on Wednesday. Needham & Company LLC reaffirmed a “buy” rating and issued a $585.00 price target on shares of Teledyne Technologies in a research report on Wednesday, February 5th. 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 report on Monday, March 17th. Finally, UBS Group started coverage on Teledyne Technologies in a report on Tuesday, December 10th. They set a “buy” rating and a $585.00 target price for the company. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $548.00.

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.