State of Alaska Department of Revenue Has $2.47 Million Position in Teledyne Technologies Incorporated (NYSE:TDY)

State of Alaska Department of Revenue lessened its position in Teledyne Technologies Incorporated (NYSE:TDY) by 21.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,315 shares of the scientific and technical instruments company’s stock after selling 1,430 shares during the quarter. State of Alaska Department of Revenue’s holdings in Teledyne Technologies were worth $2,466,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Exchange Traded Concepts LLC raised its holdings in shares of Teledyne Technologies by 432.0% in the third quarter. Exchange Traded Concepts LLC now owns 133 shares of the scientific and technical instruments company’s stock valued at $58,000 after purchasing an additional 108 shares during the last quarter. Procyon Advisors LLC grew its position in Teledyne Technologies by 34.2% in the third quarter. Procyon Advisors LLC now owns 974 shares of the scientific and technical instruments company’s stock valued at $426,000 after purchasing an additional 248 shares in the last quarter. Creative Planning increased its stake in Teledyne Technologies by 13.3% in the 3rd quarter. Creative Planning now owns 4,184 shares of the scientific and technical instruments company’s stock valued at $1,831,000 after buying an additional 492 shares during the last quarter. Swedbank AB lifted its position in Teledyne Technologies by 0.6% during the 3rd quarter. Swedbank AB now owns 16,296 shares of the scientific and technical instruments company’s stock worth $7,132,000 after buying an additional 100 shares in the last quarter. Finally, Hutchens & Kramer Investment Management Group LLC boosted its stake in shares of Teledyne Technologies by 7.6% during the 3rd quarter. Hutchens & Kramer Investment Management Group LLC now owns 888 shares of the scientific and technical instruments company’s stock worth $390,000 after buying an additional 63 shares during the last quarter. Institutional investors own 91.58% of the company’s stock.

Wall Street Analyst Weigh In

TDY has been the topic of a number of recent research reports. Bank of America raised Teledyne Technologies from a “neutral” rating to a “buy” rating and lifted their target price for the company from $450.00 to $550.00 in a research report on Friday, November 8th. UBS Group began coverage on Teledyne Technologies in a research report on Tuesday, December 10th. They set a “buy” rating and a $585.00 price target on the stock. Needham & Company LLC reissued a “buy” rating and issued a $585.00 price objective on shares of Teledyne Technologies in a report on Wednesday, February 5th. Finally, TD Cowen upped their price target on shares of Teledyne Technologies from $450.00 to $500.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $538.00.

Insider Activity at Teledyne Technologies

In other news, Director Michael T. Smith sold 2,025 shares of the company’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $478.25, for a total value of $968,456.25. Following the transaction, the director now owns 54,935 shares of the company’s stock, valued at approximately $26,272,663.75. This represents a 3.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Robert Mehrabian sold 5,768 shares of the stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $518.22, for a total value of $2,989,092.96. Following the transaction, the chairman now owns 144,553 shares in the company, valued at approximately $74,910,255.66. This trade represents a 3.84 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 32,190 shares of company stock worth $16,386,864. Insiders own 2.14% of the company’s stock.

Teledyne Technologies Stock Performance

TDY opened at $511.38 on Tuesday. 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 stock has a market cap of $23.83 billion, a price-to-earnings ratio of 29.68, a PEG ratio of 3.19 and a beta of 1.03. Teledyne Technologies Incorporated has a 12-month low of $355.41 and a 12-month high of $522.50. The business has a 50 day moving average of $480.48 and a 200-day moving average of $455.64.

Teledyne Technologies (NYSE:TDY) last released its quarterly earnings data on Wednesday, January 22nd. The scientific and technical instruments company reported $5.52 EPS for the quarter, topping analysts’ consensus estimates of $5.23 by $0.29. The firm 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%. The company’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same period in the previous year, the business posted $5.44 earnings per share. On average, equities research analysts expect that Teledyne Technologies Incorporated will post 21.59 earnings per share 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.