Earnest Partners LLC increased its holdings in Teledyne Technologies Incorporated (NYSE:TDY) by 1.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 617,714 shares of the scientific and technical instruments company’s stock after purchasing an additional 8,749 shares during the quarter. Teledyne Technologies accounts for about 1.1% of Earnest Partners LLC’s holdings, making the stock its 23rd largest holding. Earnest Partners LLC’s holdings in Teledyne Technologies were worth $115,618,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Signaturefd LLC acquired a new position in Teledyne Technologies in the 1st quarter worth about $111,000. Three Peaks Capital Management LLC acquired a new position in Teledyne Technologies in the 1st quarter worth about $111,000. Advisor Group Inc. raised its holdings in Teledyne Technologies by 41.6% in the 4th quarter. Advisor Group Inc. now owns 1,075 shares of the scientific and technical instruments company’s stock worth $195,000 after purchasing an additional 316 shares during the period. Nuveen Asset Management LLC acquired a new position in Teledyne Technologies in the 1st quarter worth about $204,000. Finally, BB&T Securities LLC acquired a new position in Teledyne Technologies in the 4th quarter worth about $206,000. 84.05% of the stock is owned by institutional investors.
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In other Teledyne Technologies news, VP Edwin Roks sold 11,334 shares of the stock in a transaction that occurred on Friday, June 1st. The stock was sold at an average price of $206.00, for a total transaction of $2,334,804.00. Following the completion of the transaction, the vice president now owns 8,570 shares of the company’s stock, valued at $1,765,420. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Robert Mehrabian sold 18,584 shares of the stock in a transaction that occurred on Thursday, March 22nd. The shares were sold at an average price of $193.52, for a total value of $3,596,375.68. Following the transaction, the chairman now directly owns 252,750 shares of the company’s stock, valued at approximately $48,912,180. The disclosure for this sale can be found here. Insiders have sold 110,048 shares of company stock valued at $21,801,902 in the last three months. Insiders own 3.73% of the company’s stock.
A number of research firms recently weighed in on TDY. Needham & Company LLC reaffirmed a “buy” rating and issued a $210.00 price target (up previously from $205.00) on shares of Teledyne Technologies in a report on Friday, May 4th. ValuEngine raised Teledyne Technologies from a “hold” rating to a “buy” rating in a report on Thursday, March 1st. Finally, Zacks Investment Research cut Teledyne Technologies from a “buy” rating to a “hold” rating in a report on Thursday, April 5th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $197.67.
Shares of Teledyne Technologies stock opened at $208.90 on Wednesday. Teledyne Technologies Incorporated has a 12 month low of $123.29 and a 12 month high of $214.32. The company has a market cap of $7.65 billion, a price-to-earnings ratio of 30.14, a PEG ratio of 3.78 and a beta of 1.02. The company has a quick ratio of 1.22, a current ratio of 1.91 and a debt-to-equity ratio of 0.50.
Teledyne Technologies (NYSE:TDY) last announced its earnings results on Thursday, May 3rd. The scientific and technical instruments company reported $1.81 EPS for the quarter, beating analysts’ consensus estimates of $1.55 by $0.26. Teledyne Technologies had a return on equity of 14.33% and a net margin of 9.63%. The business had revenue of $695.60 million during the quarter, compared to analysts’ expectations of $661.58 million. During the same quarter in the prior year, the firm earned $0.84 earnings per share. The business’s revenue was up 22.9% compared to the same quarter last year. equities research analysts anticipate that Teledyne Technologies Incorporated will post 7.55 EPS for the current fiscal year.
Teledyne Technologies Company Profile
Teledyne Technologies Incorporated provides instrumentation, digital imaging, aerospace and defense electronics, and engineered systems in the United States, Canada, the United Kingdom, France, and internationally. The company's Instrumentation segment offers monitoring and control instruments for marine, environmental, industrial, and other applications, as well as electronic test and measurement equipment; and power and communications connectivity devices for distributed instrumentation systems and sensor networks deployed in mission critical and harsh environments.
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