Louisiana State Employees Retirement System Lowers Stake in Teledyne Technologies Incorporated (NYSE:TDY)

Louisiana State Employees Retirement System trimmed its position in shares of Teledyne Technologies Incorporated (NYSE:TDY) by 3.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,500 shares of the scientific and technical instruments company’s stock after selling 100 shares during the period. Louisiana State Employees Retirement System’s holdings in Teledyne Technologies were worth $1,160,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in TDY. Stratos Wealth Partners LTD. grew its position in shares of Teledyne Technologies by 4.4% in the 4th quarter. Stratos Wealth Partners LTD. now owns 500 shares of the scientific and technical instruments company’s stock worth $232,000 after acquiring an additional 21 shares in the last quarter. Metis Global Partners LLC grew its stake in shares of Teledyne Technologies by 1.6% in the 3rd quarter. Metis Global Partners LLC now owns 1,514 shares of the scientific and technical instruments company’s stock worth $663,000 after purchasing an additional 24 shares during the last quarter. Crumly & Associates Inc. grew its holdings in shares of Teledyne Technologies by 3.8% in the 3rd quarter. Crumly & Associates Inc. now owns 677 shares of the scientific and technical instruments company’s stock worth $296,000 after acquiring an additional 25 shares during the last quarter. Raymond James Trust N.A. increased its position in shares of Teledyne Technologies by 4.8% in the third quarter. Raymond James Trust N.A. now owns 550 shares of the scientific and technical instruments company’s stock worth $241,000 after acquiring an additional 25 shares in the last quarter. Finally, Bleakley Financial Group LLC grew its holdings in shares of Teledyne Technologies by 4.0% during the third quarter. Bleakley Financial Group LLC now owns 681 shares of the scientific and technical instruments company’s stock valued at $298,000 after buying an additional 26 shares in the last quarter. Institutional investors and hedge funds own 91.58% of the company’s stock.

Insider Transactions at Teledyne Technologies

In related news, Director Michael T. Smith sold 2,025 shares of the stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $478.25, for a total transaction of $968,456.25. Following the completion of the sale, the director now directly owns 54,935 shares of the company’s stock, valued at approximately $26,272,663.75. This trade represents a 3.56 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Cynthia Y. Belak sold 5,745 shares of the firm’s stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $508.34, for a total transaction of $2,920,413.30. Following the sale, the vice president now owns 4,962 shares of the company’s stock, valued at approximately $2,522,383.08. The trade was a 53.66 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 32,190 shares of company stock valued at $16,386,864. Corporate insiders own 2.14% of the company’s stock.

Teledyne Technologies Trading Down 1.9 %

Shares of Teledyne Technologies stock opened at $489.74 on Monday. Teledyne Technologies Incorporated has a 52-week low of $355.41 and a 52-week high of $522.50. The firm has a 50-day moving average of $483.00 and a 200-day moving average of $458.50. The stock has a market cap of $22.82 billion, a PE ratio of 28.42, a PEG ratio of 3.19 and a beta of 1.03. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.61 and a current ratio of 2.33.

Teledyne Technologies (NYSE:TDY) last announced its quarterly 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 company had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.45 billion. Teledyne Technologies had a net margin of 14.45% and a return on equity of 9.94%. The firm’s revenue was up 5.4% on a year-over-year basis. During the same period in the previous year, the firm posted $5.44 EPS. As a group, sell-side analysts forecast that Teledyne Technologies Incorporated will post 21.59 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $585.00 target price on shares of Teledyne Technologies in a research note on Wednesday, February 5th. TD Cowen raised their price target on shares of Teledyne Technologies from $450.00 to $500.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. UBS Group began coverage on shares of Teledyne Technologies in a research report on Tuesday, December 10th. They issued a “buy” rating and a $585.00 price target on the stock. Finally, Bank of America upgraded shares of Teledyne Technologies from a “neutral” rating to a “buy” rating and raised their price objective for the company from $450.00 to $550.00 in a research report on Friday, November 8th. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, Teledyne Technologies presently has a consensus rating of “Buy” and an average target price of $538.00.

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.