IFM Investors Pty Ltd Takes $3.82 Million Position in Teledyne Technologies Incorporated (NYSE:TDY)

IFM Investors Pty Ltd acquired a new position in shares of Teledyne Technologies Incorporated (NYSE:TDY) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 8,898 shares of the scientific and technical instruments company’s stock, valued at approximately $3,820,000.

A number of other institutional investors have also recently added to or reduced their stakes in TDY. Aristotle Capital Management LLC purchased a new stake in shares of Teledyne Technologies in the 3rd quarter valued at approximately $698,325,000. Norges Bank acquired a new position in Teledyne Technologies in the fourth quarter valued at approximately $243,111,000. Kayne Anderson Rudnick Investment Management LLC grew its position in Teledyne Technologies by 26.3% in the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 929,995 shares of the scientific and technical instruments company’s stock worth $379,977,000 after acquiring an additional 193,544 shares during the period. Maren Capital LLC acquired a new stake in Teledyne Technologies during the fourth quarter worth $82,700,000. Finally, JPMorgan Chase & Co. raised its position in Teledyne Technologies by 19.7% in the third quarter. JPMorgan Chase & Co. now owns 922,621 shares of the scientific and technical instruments company’s stock valued at $376,965,000 after purchasing an additional 151,659 shares during the period. Hedge funds and other institutional investors own 91.58% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on TDY. StockNews.com lowered shares of Teledyne Technologies from a “buy” rating to a “hold” rating in a report on Thursday. Bank of America lowered shares of Teledyne Technologies from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $490.00 to $400.00 in a report on Friday. Needham & Company LLC cut their target price on Teledyne Technologies from $510.00 to $455.00 and set a “buy” rating on the stock in a research report on Thursday. Finally, TD Cowen lowered their price target on Teledyne Technologies from $475.00 to $450.00 and set a “buy” rating for the company in a research report on Thursday. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $474.86.

Teledyne Technologies Stock Down 0.6 %

TDY traded down $2.34 during trading hours on Friday, hitting $374.64. 471,369 shares of the company’s stock were exchanged, compared to its average volume of 283,257. The firm has a market cap of $17.75 billion, a P/E ratio of 20.26, a price-to-earnings-growth ratio of 2.58 and a beta of 1.02. Teledyne Technologies Incorporated has a 12-month low of $355.41 and a 12-month high of $448.19. The company has a current ratio of 1.81, a quick ratio of 1.17 and a debt-to-equity ratio of 0.28. The firm has a 50 day moving average of $416.42 and a 200 day moving average of $414.39.

Teledyne Technologies (NYSE:TDY) last posted its quarterly earnings data on Wednesday, April 24th. The scientific and technical instruments company reported $4.55 earnings per share for the quarter, missing analysts’ consensus estimates of $4.63 by ($0.08). The company had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.39 billion. Teledyne Technologies had a return on equity of 10.54% and a net margin of 15.81%. The firm’s revenue was down 2.4% compared to the same quarter last year. During the same period in the prior year, the company posted $4.53 EPS. Analysts predict that Teledyne Technologies Incorporated will post 19.35 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Kenneth C. Dahlberg sold 4,000 shares of Teledyne Technologies stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $432.91, for a total value of $1,731,640.00. Following the completion of the transaction, the director now owns 18,735 shares in the company, valued at $8,110,568.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Simon M. Lorne sold 2,200 shares of the stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $426.70, for a total value of $938,740.00. Following the transaction, the director now owns 67,288 shares in the company, valued at approximately $28,711,789.60. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Kenneth C. Dahlberg sold 4,000 shares of the business’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $432.91, for a total value of $1,731,640.00. Following the sale, the director now owns 18,735 shares of the company’s stock, valued at approximately $8,110,568.85. The disclosure for this sale can be found here. Insiders have sold a total of 6,711 shares of company stock worth $2,890,621 in the last quarter. 2.14% of the stock is owned by company insiders.

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.