Kentucky Retirement Systems Trims Stock Holdings in Teledyne Technologies Incorporated (NYSE:TDY)

Kentucky Retirement Systems lowered its position in shares of Teledyne Technologies Incorporated (NYSE:TDY) by 8.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,259 shares of the scientific and technical instruments company’s stock after selling 315 shares during the quarter. Kentucky Retirement Systems’ holdings in Teledyne Technologies were worth $1,426,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Empowered Funds LLC boosted its stake in Teledyne Technologies by 38.1% during the third quarter. Empowered Funds LLC now owns 851 shares of the scientific and technical instruments company’s stock worth $372,000 after acquiring an additional 235 shares in the last quarter. Empirical Finance LLC lifted its holdings in shares of Teledyne Technologies by 2.5% during the third quarter. Empirical Finance LLC now owns 1,521 shares of the scientific and technical instruments company’s stock valued at $666,000 after purchasing an additional 37 shares during the last quarter. CIBC Asset Management Inc grew its stake in shares of Teledyne Technologies by 7.2% in the 3rd quarter. CIBC Asset Management Inc now owns 6,854 shares of the scientific and technical instruments company’s stock worth $3,000,000 after buying an additional 459 shares during the last quarter. OneDigital Investment Advisors LLC increased its position in Teledyne Technologies by 2.4% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 1,766 shares of the scientific and technical instruments company’s stock valued at $773,000 after buying an additional 42 shares in the last quarter. Finally, ING Groep NV purchased a new position in Teledyne Technologies during the third quarter valued at $1,064,000. Institutional investors own 91.58% of the company’s stock.

Teledyne Technologies Stock Performance

Shares of TDY stock opened at $465.89 on Tuesday. The company has a quick ratio of 1.35, a current ratio of 2.00 and a debt-to-equity ratio of 0.28. The company has a 50 day moving average price of $450.27 and a 200-day moving average price of $419.02. Teledyne Technologies Incorporated has a 52 week low of $355.41 and a 52 week high of $492.00. The firm has a market capitalization of $21.71 billion, a PE ratio of 23.55, a P/E/G ratio of 3.26 and a beta of 1.01.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Bank of America raised Teledyne Technologies from a “neutral” rating to a “buy” rating and increased their target price for the stock from $450.00 to $550.00 in a research note on Friday, November 8th. StockNews.com raised shares of Teledyne Technologies from a “hold” rating to a “buy” rating in a research report on Wednesday, October 2nd. TD Cowen upped their target price on shares of Teledyne Technologies from $450.00 to $500.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Vertical Research started coverage on shares of Teledyne Technologies in a report on Tuesday, July 23rd. They set a “buy” rating and a $470.00 price target on the stock. Finally, Needham & Company LLC boosted their price objective 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. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $517.50.

Insider Buying and Selling at Teledyne Technologies

In other news, Chairman Robert Mehrabian sold 3,925 shares of the company’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $490.50, for a total transaction of $1,925,212.50. Following the completion of the sale, the chairman now owns 171,802 shares of the company’s stock, valued at $84,268,881. This represents a 2.23 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.14% of the stock is owned by corporate insiders.

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.