Resona Asset Management Co. Ltd. boosted its position in shares of Teledyne Technologies Incorporated (NYSE:TDY - Free Report) by 2.9% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 22,479 shares of the scientific and technical instruments company's stock after acquiring an additional 643 shares during the quarter. Resona Asset Management Co. Ltd.'s holdings in Teledyne Technologies were worth $11,183,000 at the end of the most recent reporting period.
A number of other large investors have also recently bought and sold shares of TDY. Golden State Wealth Management LLC raised its holdings in shares of Teledyne Technologies by 205.9% during the first quarter. Golden State Wealth Management LLC now owns 52 shares of the scientific and technical instruments company's stock worth $26,000 after purchasing an additional 35 shares during the last quarter. NBC Securities Inc. acquired a new position in shares of Teledyne Technologies in the 1st quarter valued at about $28,000. Quarry LP purchased a new stake in shares of Teledyne Technologies in the fourth quarter worth about $28,000. TCTC Holdings LLC raised its position in Teledyne Technologies by 97.4% during the first quarter. TCTC Holdings LLC now owns 75 shares of the scientific and technical instruments company's stock valued at $37,000 after acquiring an additional 37 shares in the last quarter. Finally, Ancora Advisors LLC lifted its holdings in Teledyne Technologies by 192.3% in the fourth quarter. Ancora Advisors LLC now owns 76 shares of the scientific and technical instruments company's stock valued at $35,000 after acquiring an additional 50 shares during the period. Hedge funds and other institutional investors own 91.58% of the company's stock.
Teledyne Technologies Price Performance
NYSE:TDY traded down $3.24 during mid-day trading on Monday, hitting $535.24. 82,595 shares of the company's stock traded hands, compared to its average volume of 328,782. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.07 and a current ratio of 1.66. The company has a market cap of $25.10 billion, a PE ratio of 29.47, a price-to-earnings-growth ratio of 2.50 and a beta of 1.07. The firm's 50 day simple moving average is $526.84 and its 200 day simple moving average is $501.12. Teledyne Technologies Incorporated has a 1 year low of $415.02 and a 1 year high of $570.56.
Teledyne Technologies (NYSE:TDY - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The scientific and technical instruments company reported $5.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.05 by $0.15. The company had revenue of $1.51 billion for the quarter, compared to analysts' expectations of $1.47 billion. Teledyne Technologies had a net margin of 14.54% and a return on equity of 9.96%. The firm's revenue for the quarter was up 10.2% compared to the same quarter last year. During the same period last year, the company earned $4.58 EPS. Sell-side analysts expect that Teledyne Technologies Incorporated will post 21.55 EPS for the current year.
Teledyne Technologies declared that its board has approved a stock repurchase plan on Wednesday, July 23rd that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the scientific and technical instruments company to repurchase up to 7.7% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's board of directors believes its stock is undervalued.
Insider Buying and Selling
In related news, CEO George C. Bobb III sold 6,735 shares of Teledyne Technologies stock in a transaction on Wednesday, July 30th. The stock was sold at an average price of $555.41, for a total value of $3,740,686.35. Following the transaction, the chief executive officer owned 10,391 shares in the company, valued at approximately $5,771,265.31. This trade represents a 39.33% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Simon M. Lorne sold 6,311 shares of Teledyne Technologies stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $549.64, for a total value of $3,468,778.04. Following the completion of the transaction, the director directly owned 61,913 shares in the company, valued at $34,029,861.32. This represents a 9.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 15,021 shares of company stock valued at $8,315,662. Insiders own 1.50% of the company's stock.
Wall Street Analysts Forecast Growth
A number of research analysts have weighed in on TDY shares. Wall Street Zen upgraded shares of Teledyne Technologies from a "hold" rating to a "buy" rating in a research report on Friday, May 9th. TD Securities restated a "buy" rating and issued a $550.00 target price on shares of Teledyne Technologies in a report on Thursday, April 24th. Morgan Stanley upped their price target on Teledyne Technologies from $535.00 to $580.00 and gave the company an "equal weight" rating in a research note on Thursday, July 17th. UBS Group lifted their target price on shares of Teledyne Technologies from $585.00 to $630.00 and gave the company a "buy" rating in a report on Thursday, July 24th. Finally, Needham & Company LLC cut their target price on shares of Teledyne Technologies from $585.00 to $550.00 and set a "buy" rating on the stock in a research note on Thursday, April 24th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $576.57.
Check Out Our Latest Stock Analysis on Teledyne Technologies
Teledyne Technologies Profile
(
Free Report)
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.
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