State of Michigan Retirement System Acquires 100 Shares of Teledyne Technologies Incorporated (NYSE:TDY)

State of Michigan Retirement System increased its stake in shares of Teledyne Technologies Incorporated (NYSE:TDY) by 0.8% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,969 shares of the scientific and technical instruments company’s stock after acquiring an additional 100 shares during the period. State of Michigan Retirement System’s holdings in Teledyne Technologies were worth $5,568,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. First Citizens Bank & Trust Co. acquired a new stake in shares of Teledyne Technologies in the fourth quarter valued at approximately $2,325,000. ING Groep NV grew its holdings in shares of Teledyne Technologies by 60.1% in the 4th quarter. ING Groep NV now owns 9,460 shares of the scientific and technical instruments company’s stock valued at $4,222,000 after acquiring an additional 3,550 shares in the last quarter. Grandfield & Dodd LLC increased its position in shares of Teledyne Technologies by 11.2% in the fourth quarter. Grandfield & Dodd LLC now owns 30,894 shares of the scientific and technical instruments company’s stock valued at $13,788,000 after acquiring an additional 3,111 shares during the last quarter. Hsbc Holdings PLC raised its holdings in Teledyne Technologies by 28.4% during the fourth quarter. Hsbc Holdings PLC now owns 91,664 shares of the scientific and technical instruments company’s stock worth $40,905,000 after acquiring an additional 20,263 shares in the last quarter. Finally, BNP Paribas Financial Markets boosted its position in Teledyne Technologies by 69.5% during the fourth quarter. BNP Paribas Financial Markets now owns 21,931 shares of the scientific and technical instruments company’s stock valued at $9,788,000 after purchasing an additional 8,992 shares during the last quarter. 91.58% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on TDY. TD Cowen dropped their price objective on Teledyne Technologies from $475.00 to $450.00 and set a “buy” rating on the stock in a research note on Thursday, April 25th. StockNews.com cut shares of Teledyne Technologies from a “buy” rating to a “hold” rating in a research note on Thursday, April 25th. Needham & Company LLC decreased their price objective on shares of Teledyne Technologies from $510.00 to $455.00 and set a “buy” rating for the company in a research report on Thursday, April 25th. Finally, Bank of America cut shares of Teledyne Technologies from a “buy” rating to a “neutral” rating and dropped their target price for the company from $490.00 to $400.00 in a report on Friday, April 26th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $470.83.

Teledyne Technologies Price Performance

NYSE:TDY opened at $384.56 on Wednesday. The firm’s fifty day moving average price is $391.17 and its two-hundred day moving average price is $413.76. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.81 and a quick ratio of 1.29. The company has a market cap of $18.22 billion, a P/E ratio of 20.80, a P/E/G ratio of 2.73 and a beta of 1.00. Teledyne Technologies Incorporated has a one year low of $355.41 and a one year high of $448.19.

Teledyne Technologies (NYSE:TDY) last announced its quarterly earnings results on Wednesday, April 24th. The scientific and technical instruments company reported $4.55 EPS for the quarter, missing analysts’ consensus estimates of $4.63 by ($0.08). The company had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.39 billion. Teledyne Technologies had a net margin of 15.81% and a return on equity of 10.54%. The firm’s quarterly revenue was down 2.4% on a year-over-year basis. During the same quarter last year, the company posted $4.53 EPS. Equities analysts expect that Teledyne Technologies Incorporated will post 19.34 earnings per share 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.