Kentucky Retirement Systems Insurance Trust Fund Decreases Stock Holdings in Teledyne Technologies Incorporated (NYSE:TDY)

Kentucky Retirement Systems Insurance Trust Fund trimmed its position in shares of Teledyne Technologies Incorporated (NYSE:TDY) by 7.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,557 shares of the scientific and technical instruments company’s stock after selling 124 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Teledyne Technologies were worth $668,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of TDY. Vanguard Group Inc. raised its holdings in Teledyne Technologies by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 5,534,111 shares of the scientific and technical instruments company’s stock valued at $2,375,905,000 after buying an additional 16,189 shares during the period. King Luther Capital Management Corp grew its position in Teledyne Technologies by 1.6% in the 4th quarter. King Luther Capital Management Corp now owns 613,023 shares of the scientific and technical instruments company’s stock valued at $273,586,000 after acquiring an additional 9,843 shares during the last quarter. Norges Bank bought a new position in Teledyne Technologies in the 4th quarter valued at $243,111,000. Northern Trust Corp grew its position in Teledyne Technologies by 1.9% in the 4th quarter. Northern Trust Corp now owns 519,334 shares of the scientific and technical instruments company’s stock valued at $231,774,000 after acquiring an additional 9,455 shares during the last quarter. Finally, Sei Investments Co. grew its position in Teledyne Technologies by 2.1% in the 1st quarter. Sei Investments Co. now owns 352,166 shares of the scientific and technical instruments company’s stock valued at $151,193,000 after acquiring an additional 7,114 shares during the last quarter. 91.58% of the stock is owned by hedge funds and other institutional investors.

Teledyne Technologies Stock Up 1.4 %

Teledyne Technologies stock traded up $5.86 during midday trading on Friday, reaching $421.56. The company’s stock had a trading volume of 335,622 shares, compared to its average volume of 287,438. The stock’s 50-day simple moving average is $394.20 and its 200-day simple moving average is $408.95. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.98 and a quick ratio of 1.29. Teledyne Technologies Incorporated has a 52-week low of $355.41 and a 52-week high of $448.19. The stock has a market capitalization of $19.97 billion, a P/E ratio of 22.80, a PEG ratio of 2.97 and a beta of 1.00.

Teledyne Technologies (NYSE:TDY) last announced its quarterly earnings data on Wednesday, July 24th. The scientific and technical instruments company reported $4.58 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $1.36 billion. During the same period last year, the business posted $4.67 earnings per share. The company’s revenue for the quarter was down 3.8% compared to the same quarter last year. On average, sell-side analysts expect that Teledyne Technologies Incorporated will post 19.34 EPS for the current year.

Wall Street Analyst Weigh In

TDY has been the topic of several research analyst reports. Vertical Research initiated coverage on Teledyne Technologies in a research report on Tuesday, July 23rd. They issued a “buy” rating and a $470.00 price objective on the stock. TD Cowen dropped their price target on Teledyne Technologies from $475.00 to $450.00 and set a “buy” rating on the stock in a research report on Thursday, April 25th. Needham & Company LLC increased their price target on Teledyne Technologies from $455.00 to $482.00 and gave the stock a “buy” rating in a research report on Thursday. Bank of America downgraded Teledyne Technologies from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $490.00 to $400.00 in a research report on Friday, April 26th. Finally, StockNews.com downgraded Teledyne Technologies from a “buy” rating to a “hold” rating in a research report on Friday. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $474.57.

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.