Kentucky Retirement Systems Insurance Trust Fund Invests $670,000 in Teledyne Technologies Incorporated (NYSE:TDY)

Kentucky Retirement Systems Insurance Trust Fund bought a new position in shares of Teledyne Technologies Incorporated (NYSE:TDY - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,346 shares of the scientific and technical instruments company's stock, valued at approximately $670,000.

Several other hedge funds have also recently modified their holdings of TDY. LPL Financial LLC raised its position in shares of Teledyne Technologies by 8.5% in the fourth quarter. LPL Financial LLC now owns 28,366 shares of the scientific and technical instruments company's stock valued at $13,166,000 after buying an additional 2,224 shares during the last quarter. Amundi raised its holdings in Teledyne Technologies by 11.9% in the 4th quarter. Amundi now owns 124,874 shares of the scientific and technical instruments company's stock valued at $57,687,000 after acquiring an additional 13,244 shares during the last quarter. Grandfield & Dodd LLC lifted its stake in Teledyne Technologies by 11.7% in the 4th quarter. Grandfield & Dodd LLC now owns 39,316 shares of the scientific and technical instruments company's stock worth $18,248,000 after purchasing an additional 4,125 shares in the last quarter. SG Americas Securities LLC acquired a new position in shares of Teledyne Technologies during the 1st quarter worth approximately $6,725,000. Finally, Atria Investments Inc grew its position in shares of Teledyne Technologies by 3.9% in the fourth quarter. Atria Investments Inc now owns 15,864 shares of the scientific and technical instruments company's stock valued at $7,363,000 after purchasing an additional 593 shares in the last quarter. Institutional investors and hedge funds own 91.58% of the company's stock.

Teledyne Technologies Stock Up 0.6%

Teledyne Technologies stock traded up $2.96 during mid-day trading on Wednesday, reaching $497.59. 332,342 shares of the company's stock were exchanged, compared to its average volume of 269,638. The company has a fifty day moving average of $484.29 and a 200-day moving average of $484.72. The company has a market cap of $23.32 billion, a P/E ratio of 28.43, a P/E/G ratio of 2.32 and a beta of 1.04. The company has a quick ratio of 1.44, a current ratio of 2.19 and a debt-to-equity ratio of 0.30. Teledyne Technologies Incorporated has a twelve month low of $380.63 and a twelve month high of $522.50.

Teledyne Technologies (NYSE:TDY - Get Free Report) last released its earnings results on Wednesday, April 23rd. The scientific and technical instruments company reported $4.95 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.92 by $0.03. Teledyne Technologies had a return on equity of 9.95% and a net margin of 14.37%. The firm had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.44 billion. During the same period last year, the business posted $4.55 earnings per share. Teledyne Technologies's revenue was up 7.4% compared to the same quarter last year. Sell-side analysts expect that Teledyne Technologies Incorporated will post 21.55 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on TDY. TD Securities reiterated a "buy" rating and set a $550.00 price objective on shares of Teledyne Technologies in a research report on Thursday, April 24th. Stifel Nicolaus started coverage on Teledyne Technologies in a report on Tuesday. They set a "buy" rating and a $626.00 price target on the stock. Bank of America boosted their price target on shares of Teledyne Technologies from $550.00 to $600.00 and gave the company a "buy" rating in a research report on Monday, March 17th. Needham & Company LLC cut their price objective on shares of Teledyne Technologies from $585.00 to $550.00 and set a "buy" rating for the company in a research report on Thursday, April 24th. Finally, Wall Street Zen upgraded Teledyne Technologies from a "hold" rating to a "buy" rating in a research report on Friday, May 9th. Eight research analysts have rated the stock with a buy rating, According to MarketBeat, Teledyne Technologies presently has an average rating of "Buy" and an average price target of $554.43.

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.