Principal Financial Group Inc. Buys 8,501 Shares of Teledyne Technologies Incorporated (NYSE:TDY)

Principal Financial Group Inc. lifted its stake in Teledyne Technologies Incorporated (NYSE:TDY) by 15.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 64,350 shares of the scientific and technical instruments company’s stock after acquiring an additional 8,501 shares during the period. Principal Financial Group Inc. owned approximately 0.14% of Teledyne Technologies worth $29,867,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in TDY. Brooklyn Investment Group bought a new position in shares of Teledyne Technologies in the third quarter worth $32,000. Wilmington Savings Fund Society FSB bought a new stake in Teledyne Technologies during the third quarter valued at $39,000. Newbridge Financial Services Group Inc. bought a new stake in Teledyne Technologies during the fourth quarter valued at $46,000. Allworth Financial LP boosted its stake in Teledyne Technologies by 15.1% during the fourth quarter. Allworth Financial LP now owns 206 shares of the scientific and technical instruments company’s stock valued at $105,000 after buying an additional 27 shares during the period. Finally, Salem Investment Counselors Inc. boosted its stake in Teledyne Technologies by 85.5% during the fourth quarter. Salem Investment Counselors Inc. now owns 230 shares of the scientific and technical instruments company’s stock valued at $107,000 after buying an additional 106 shares during the period. 91.58% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Chairman Robert Mehrabian sold 5,007 shares of the firm’s stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $510.33, for a total transaction of $2,555,222.31. Following the transaction, the chairman now directly owns 144,553 shares in the company, valued at $73,769,732.49. This trade represents a 3.35 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael T. Smith sold 2,025 shares of the firm’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $478.25, for a total value of $968,456.25. Following the transaction, the director now owns 54,935 shares in the company, valued at approximately $26,272,663.75. The trade was a 3.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 32,190 shares of company stock worth $16,386,864 in the last ninety days. 2.14% of the stock is owned by insiders.

Teledyne Technologies Trading Down 1.9 %

TDY stock opened at $491.27 on Friday. The company has a market capitalization of $22.89 billion, a PE ratio of 28.51, a price-to-earnings-growth ratio of 3.14 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 Incorporated has a one year low of $355.41 and a one year high of $522.50. The company’s 50 day moving average price is $485.23 and its two-hundred day moving average price is $461.22.

Teledyne Technologies (NYSE:TDY) last posted its quarterly earnings results on Wednesday, January 22nd. The scientific and technical instruments company reported $5.52 earnings per share for the quarter, topping the consensus estimate of $5.23 by $0.29. Teledyne Technologies had a net margin of 14.45% and a return on equity of 9.94%. The business had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.45 billion. During the same period in the previous year, the firm posted $5.44 earnings per share. The firm’s revenue for the quarter was up 5.4% on a year-over-year basis. As a group, analysts predict that Teledyne Technologies Incorporated will post 21.55 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently issued reports on TDY. UBS Group began coverage on Teledyne Technologies in a research note on Tuesday, December 10th. They set a “buy” rating and a $585.00 price objective for the company. Bank of America raised Teledyne Technologies from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $450.00 to $550.00 in a research note on Friday, November 8th. Finally, Needham & Company LLC reissued a “buy” rating and set a $585.00 price objective on shares of Teledyne Technologies in a research note on Wednesday, February 5th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target 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.