New York State Common Retirement Fund Sells 2,700 Shares of Teledyne Technologies Incorporated (NYSE:TDY)

New York State Common Retirement Fund lessened its stake in Teledyne Technologies Incorporated (NYSE:TDY) by 5.8% during the fourth quarter, Holdings Channel reports. The firm owned 43,705 shares of the scientific and technical instruments company’s stock after selling 2,700 shares during the period. New York State Common Retirement Fund’s holdings in Teledyne Technologies were worth $20,285,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Creative Planning lifted its holdings in Teledyne Technologies by 13.3% during the third quarter. Creative Planning now owns 4,184 shares of the scientific and technical instruments company’s stock worth $1,831,000 after acquiring an additional 492 shares during the period. Sequoia Financial Advisors LLC boosted its position in Teledyne Technologies by 4.5% in the third quarter. Sequoia Financial Advisors LLC now owns 876 shares of the scientific and technical instruments company’s stock worth $383,000 after purchasing an additional 38 shares during the last quarter. International Assets Investment Management LLC boosted its position in Teledyne Technologies by 44,457.2% in the third quarter. International Assets Investment Management LLC now owns 73,965 shares of the scientific and technical instruments company’s stock worth $32,372,000 after purchasing an additional 73,799 shares during the last quarter. Elwood & Goetz Wealth Advisory Group LLC purchased a new position in Teledyne Technologies in the third quarter worth $205,000. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position in Teledyne Technologies by 37.5% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,114 shares of the scientific and technical instruments company’s stock worth $1,357,000 after purchasing an additional 850 shares during the last quarter. Institutional investors own 91.58% of the company’s stock.

Wall Street Analysts Forecast Growth

TDY has been the topic of several research analyst reports. Bank of America raised Teledyne Technologies from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $450.00 to $550.00 in a research report on Friday, November 8th. Needham & Company LLC reissued a “buy” rating and issued a $585.00 price objective on shares of Teledyne Technologies in a research report on Wednesday, February 5th. Finally, 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 objective on the stock. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Teledyne Technologies has a consensus rating of “Buy” and a consensus price target of $538.00.

Insider Activity at Teledyne Technologies

In related news, Chairman Robert Mehrabian sold 5,768 shares of the stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $518.22, for a total transaction of $2,989,092.96. Following the completion of the sale, the chairman now directly owns 144,553 shares in the company, valued at $74,910,255.66. This represents a 3.84 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO George C. Bobb III sold 6,308 shares of the stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $507.77, for a total value of $3,203,013.16. Following the sale, the chief operating officer now owns 10,482 shares of the company’s stock, valued at $5,322,445.14. This represents a 37.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 32,190 shares of company stock worth $16,386,864. 2.14% of the stock is owned by company insiders.

Teledyne Technologies Stock Performance

Shares of TDY opened at $491.27 on Friday. The firm has a market cap of $22.89 billion, a PE ratio of 28.51, a PEG ratio of 3.14 and a beta of 1.03. The stock’s fifty day moving average price is $485.23 and its two-hundred day moving average price is $461.22. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.33 and a quick ratio of 1.61. Teledyne Technologies Incorporated has a 1 year low of $355.41 and a 1 year high of $522.50.

Teledyne Technologies (NYSE:TDY) last issued its earnings results on Wednesday, January 22nd. The scientific and technical instruments company reported $5.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.23 by $0.29. The firm had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.45 billion. Teledyne Technologies had a return on equity of 9.94% and a net margin of 14.45%. The business’s revenue was up 5.4% on a year-over-year basis. During the same period in the previous year, the company posted $5.44 earnings per share. On average, equities research analysts forecast that Teledyne Technologies Incorporated will post 21.55 EPS for the current year.

Teledyne Technologies 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.