Retirement Systems of Alabama Has $4.48 Million Stock Holdings in Teledyne Technologies Incorporated (NYSE:TDY)

Retirement Systems of Alabama decreased its holdings in shares of Teledyne Technologies Incorporated (NYSE:TDY) by 2.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 10,233 shares of the scientific and technical instruments company’s stock after selling 228 shares during the quarter. Retirement Systems of Alabama’s holdings in Teledyne Technologies were worth $4,479,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. &PARTNERS acquired a new position in Teledyne Technologies during the second quarter worth $1,076,000. LRI Investments LLC boosted its stake in shares of Teledyne Technologies by 6,030.8% during the 2nd quarter. LRI Investments LLC now owns 797 shares of the scientific and technical instruments company’s stock worth $309,000 after acquiring an additional 784 shares in the last quarter. Raymond James Trust N.A. acquired a new position in shares of Teledyne Technologies during the 2nd quarter valued at about $204,000. Bank of New York Mellon Corp raised its stake in shares of Teledyne Technologies by 3.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 300,302 shares of the scientific and technical instruments company’s stock valued at $116,511,000 after acquiring an additional 9,732 shares in the last quarter. Finally, Signature Estate & Investment Advisors LLC lifted its holdings in Teledyne Technologies by 18.0% in the 2nd quarter. Signature Estate & Investment Advisors LLC now owns 6,896 shares of the scientific and technical instruments company’s stock worth $2,676,000 after purchasing an additional 1,054 shares during the last quarter. Institutional investors own 91.58% of the company’s stock.

Teledyne Technologies Stock Performance

NYSE:TDY opened at $464.95 on Friday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.35 and a current ratio of 2.00. The firm’s 50-day moving average is $469.79 and its 200-day moving average is $431.77. Teledyne Technologies Incorporated has a 52-week low of $355.41 and a 52-week high of $492.00. The company has a market cap of $21.67 billion, a price-to-earnings ratio of 23.51, a PEG ratio of 3.30 and a beta of 1.01.

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

Analyst Ratings Changes

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

Insider Activity at Teledyne Technologies

In other Teledyne Technologies news, Director Michael T. Smith sold 2,025 shares of the business’s stock in a transaction 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 sale, the director now owns 54,935 shares of the company’s stock, valued at $26,272,663.75. The trade was a 3.56 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Chairman Robert Mehrabian sold 46,075 shares of the firm’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $487.33, for a total transaction of $22,453,729.75. Following the transaction, the chairman now directly owns 171,802 shares of the company’s stock, valued at $83,724,268.66. The trade was a 21.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 52,025 shares of company stock worth $25,347,399. 2.14% of the stock is owned by corporate insiders.

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.