Kentucky Retirement Systems Insurance Trust Fund Sells 145 Shares of Teledyne Technologies Incorporated (NYSE:TDY)

Kentucky Retirement Systems Insurance Trust Fund lessened its stake in shares of Teledyne Technologies Incorporated (NYSE:TDY) by 9.5% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,385 shares of the scientific and technical instruments company’s stock after selling 145 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Teledyne Technologies were worth $606,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of TDY. Wolff Wiese Magana LLC bought a new position in shares of Teledyne Technologies during the 3rd quarter worth about $27,000. American National Bank bought a new position in Teledyne Technologies in the second quarter worth approximately $28,000. Innealta Capital LLC bought a new stake in shares of Teledyne Technologies during the second quarter valued at approximately $28,000. Tortoise Investment Management LLC lifted its holdings in shares of Teledyne Technologies by 48.0% in the 2nd quarter. Tortoise Investment Management LLC now owns 74 shares of the scientific and technical instruments company’s stock worth $29,000 after purchasing an additional 24 shares in the last quarter. Finally, Crewe Advisors LLC grew its position in Teledyne Technologies by 319.0% in the 2nd quarter. Crewe Advisors LLC now owns 88 shares of the scientific and technical instruments company’s stock valued at $34,000 after purchasing an additional 67 shares during the period. 91.58% of the stock is owned by institutional investors.

Insider Activity

In related news, Chairman Robert Mehrabian sold 3,925 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $490.50, for a total value of $1,925,212.50. Following the transaction, the chairman now owns 171,802 shares in the company, valued at approximately $84,268,881. This represents a 2.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.14% of the company’s stock.

Teledyne Technologies Stock Down 0.9 %

TDY stock opened at $465.89 on Tuesday. The stock has a market cap of $21.71 billion, a P/E ratio of 23.55, a P/E/G ratio of 3.26 and a beta of 1.01. The company has a current ratio of 2.00, a quick ratio of 1.35 and a debt-to-equity ratio of 0.28. The stock’s fifty day simple moving average is $450.27 and its two-hundred day simple moving average is $419.02. Teledyne Technologies Incorporated has a 1-year low of $355.41 and a 1-year high of $492.00.

Teledyne Technologies (NYSE:TDY) last issued its quarterly earnings results on Wednesday, October 23rd. The scientific and technical instruments company reported $5.10 earnings per share for the quarter, topping analysts’ consensus estimates of $4.97 by $0.13. Teledyne Technologies had a net margin of 16.88% and a return on equity of 10.02%. The company had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.42 billion. During the same period in the previous year, the firm earned $5.05 EPS. The firm’s quarterly revenue was up 2.9% on a year-over-year basis. Analysts expect that Teledyne Technologies Incorporated will post 19.45 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on TDY shares. Needham & Company LLC boosted their target price on shares of Teledyne Technologies from $528.00 to $550.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. StockNews.com raised Teledyne Technologies from a “hold” rating to a “buy” rating in a research note on Wednesday, October 2nd. Vertical Research initiated coverage on Teledyne Technologies in a research report on Tuesday, July 23rd. They set a “buy” rating and a $470.00 target price on the stock. TD Cowen upped their price target on Teledyne Technologies from $450.00 to $500.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Finally, Bank of America raised shares of Teledyne Technologies from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $450.00 to $550.00 in a report on Friday, November 8th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $517.50.

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.