Public Employees Retirement Association of Colorado Decreases Stake in Teledyne Technologies Incorporated (NYSE:TDY)

Public Employees Retirement Association of Colorado reduced its stake in shares of Teledyne Technologies Incorporated (NYSE:TDY) by 0.7% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 58,384 shares of the scientific and technical instruments company’s stock after selling 383 shares during the period. Public Employees Retirement Association of Colorado owned approximately 0.12% of Teledyne Technologies worth $25,065,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. First Citizens Bank & Trust Co. purchased a new stake in shares of Teledyne Technologies during the 4th quarter worth $2,325,000. ING Groep NV grew its holdings in shares of Teledyne Technologies by 60.1% during the 4th quarter. ING Groep NV now owns 9,460 shares of the scientific and technical instruments company’s stock worth $4,222,000 after purchasing an additional 3,550 shares during the period. Grandfield & Dodd LLC grew its holdings in shares of Teledyne Technologies by 11.2% during the 4th quarter. Grandfield & Dodd LLC now owns 30,894 shares of the scientific and technical instruments company’s stock worth $13,788,000 after purchasing an additional 3,111 shares during the period. Hsbc Holdings PLC grew its holdings in shares of Teledyne Technologies by 28.4% during the 4th quarter. Hsbc Holdings PLC now owns 91,664 shares of the scientific and technical instruments company’s stock worth $40,905,000 after purchasing an additional 20,263 shares during the period. Finally, Goldman Sachs Group Inc. boosted its holdings in Teledyne Technologies by 35.1% in the 4th quarter. Goldman Sachs Group Inc. now owns 132,361 shares of the scientific and technical instruments company’s stock worth $59,071,000 after acquiring an additional 34,371 shares during the period. 91.58% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

TDY has been the topic of a number of recent analyst reports. StockNews.com lowered Teledyne Technologies from a “buy” rating to a “hold” rating in a research report on Friday. Bank of America lowered Teledyne Technologies from a “buy” rating to a “neutral” rating and dropped their price target for the company from $490.00 to $400.00 in a research report on Friday, April 26th. TD Cowen dropped their price target on Teledyne Technologies from $475.00 to $450.00 and set a “buy” rating on the stock in a research report on Thursday, April 25th. Vertical Research started coverage on Teledyne Technologies in a research report on Tuesday, July 23rd. They set a “buy” rating and a $470.00 price target on the stock. Finally, Needham & Company LLC upped their price target on Teledyne Technologies from $455.00 to $482.00 and gave the company a “buy” rating in a research report on Thursday. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $474.57.

Teledyne Technologies Stock Performance

NYSE TDY traded up $0.79 during trading hours on Monday, hitting $422.35. The company had a trading volume of 107,409 shares, compared to its average volume of 252,283. Teledyne Technologies Incorporated has a fifty-two week low of $355.41 and a fifty-two week high of $448.19. The company has a quick ratio of 1.28, a current ratio of 1.98 and a debt-to-equity ratio of 0.28. The business has a fifty day simple moving average of $394.20 and a 200-day simple moving average of $408.73. The firm has a market cap of $20.01 billion, a P/E ratio of 22.88, a price-to-earnings-growth ratio of 2.97 and a beta of 1.00.

Teledyne Technologies (NYSE:TDY) last issued its earnings results on Wednesday, July 24th. The scientific and technical instruments company reported $4.58 earnings per share for the quarter, topping the consensus estimate of $4.49 by $0.09. Teledyne Technologies had a return on equity of 10.27% and a net margin of 15.86%. The firm had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.36 billion. During the same period last year, the company earned $4.67 earnings per share. The firm’s revenue for the quarter was down 3.8% on a year-over-year basis. Equities analysts predict that Teledyne Technologies Incorporated will post 19.34 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.