State of New Jersey Common Pension Fund D Sells 8,211 Shares of Teledyne Technologies Incorporated (NYSE:TDY)

State of New Jersey Common Pension Fund D reduced its position in Teledyne Technologies Incorporated (NYSE:TDY) by 32.4% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,151 shares of the scientific and technical instruments company’s stock after selling 8,211 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Teledyne Technologies were worth $6,654,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Linscomb Wealth Inc. raised its position in Teledyne Technologies by 4.4% in the 2nd quarter. Linscomb Wealth Inc. now owns 695 shares of the scientific and technical instruments company’s stock valued at $270,000 after buying an additional 29 shares during the last quarter. AGF Management Ltd. raised its position in Teledyne Technologies by 14.0% in the 2nd quarter. AGF Management Ltd. now owns 5,910 shares of the scientific and technical instruments company’s stock valued at $2,293,000 after buying an additional 727 shares during the last quarter. Studio Investment Management LLC raised its position in Teledyne Technologies by 43.1% in the 2nd quarter. Studio Investment Management LLC now owns 229 shares of the scientific and technical instruments company’s stock valued at $89,000 after buying an additional 69 shares during the last quarter. Daiwa Securities Group Inc. raised its position in Teledyne Technologies by 7.7% in the 2nd quarter. Daiwa Securities Group Inc. now owns 7,282 shares of the scientific and technical instruments company’s stock valued at $2,826,000 after buying an additional 521 shares during the last quarter. Finally, Royal London Asset Management Ltd. raised its position in Teledyne Technologies by 11.7% in the 2nd quarter. Royal London Asset Management Ltd. now owns 20,498 shares of the scientific and technical instruments company’s stock valued at $7,953,000 after buying an additional 2,152 shares during the last quarter. 91.58% of the stock is currently owned by institutional investors.

Teledyne Technologies Stock Performance

Shares of NYSE TDY opened at $427.75 on Monday. The stock has a market cap of $20.27 billion, a price-to-earnings ratio of 23.13, a P/E/G ratio of 3.00 and a beta of 1.02. The company has a current ratio of 1.98, a quick ratio of 1.28 and a debt-to-equity ratio of 0.28. Teledyne Technologies Incorporated has a 1-year low of $355.41 and a 1-year high of $448.19. The stock’s 50-day moving average is $413.34 and its 200 day moving average is $406.05.

Teledyne Technologies (NYSE:TDY) last posted its earnings results on Wednesday, July 24th. The scientific and technical instruments company reported $4.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.49 by $0.09. Teledyne Technologies had a return on equity of 10.27% and a net margin of 15.86%. The firm had revenue of $1.37 billion for the quarter, compared to analysts’ expectations of $1.36 billion. During the same period in the previous year, the firm earned $4.67 earnings per share. The business’s revenue was down 3.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Teledyne Technologies Incorporated will post 19.43 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently commented on TDY. Vertical Research began coverage on Teledyne Technologies in a research report on Tuesday, July 23rd. They issued a “buy” rating and a $470.00 price target for the company. StockNews.com lowered Teledyne Technologies from a “buy” rating to a “hold” rating in a research report on Sunday, August 11th. Finally, Needham & Company LLC raised their target price on Teledyne Technologies from $455.00 to $482.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $471.17.

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.