Retirement Systems of Alabama trimmed its holdings in Teledyne Technologies Incorporated (NYSE:TDY – Free Report) by 0.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,015 shares of the scientific and technical instruments company’s stock after selling 75 shares during the period. Retirement Systems of Alabama’s holdings in Teledyne Technologies were worth $4,985,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also recently made changes to their positions in TDY. Quarry LP purchased a new stake in shares of Teledyne Technologies in the fourth quarter valued at about $28,000. NBC Securities Inc. purchased a new stake in shares of Teledyne Technologies in the first quarter valued at about $28,000. Hurley Capital LLC purchased a new stake in shares of Teledyne Technologies in the fourth quarter valued at about $33,000. Ancora Advisors LLC raised its holdings in shares of Teledyne Technologies by 192.3% in the fourth quarter. Ancora Advisors LLC now owns 76 shares of the scientific and technical instruments company’s stock valued at $35,000 after purchasing an additional 50 shares during the last quarter. Finally, City Holding Co. purchased a new stake in shares of Teledyne Technologies in the first quarter valued at about $38,000. 91.58% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
Several analysts have recently commented on the stock. TD Securities reiterated a “buy” rating and issued a $550.00 target price on shares of Teledyne Technologies in a report on Thursday, April 24th. Stifel Nicolaus began coverage on shares of Teledyne Technologies in a report on Tuesday. They set a “buy” rating and a $626.00 price objective for the company. Wall Street Zen upgraded shares of Teledyne Technologies from a “hold” rating to a “buy” rating in a report on Friday, May 9th. Needham & Company LLC decreased their price objective on shares of Teledyne Technologies from $585.00 to $550.00 and set a “buy” rating for the company in a report on Thursday, April 24th. Finally, Bank of America raised their price objective on shares of Teledyne Technologies from $550.00 to $600.00 and gave the stock a “buy” rating in a report on Monday, March 17th. Eight equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $554.43.
Teledyne Technologies Price Performance
TDY opened at $494.63 on Wednesday. The company has a market capitalization of $23.18 billion, a price-to-earnings ratio of 28.26, a PEG ratio of 2.32 and a beta of 1.04. The company has a quick ratio of 1.44, a current ratio of 2.19 and a debt-to-equity ratio of 0.30. The firm has a 50-day moving average price of $484.29 and a 200-day moving average price of $484.72. Teledyne Technologies Incorporated has a twelve month low of $380.63 and a twelve month high of $522.50.
Teledyne Technologies (NYSE:TDY – Get Free Report) last posted its earnings results on Wednesday, April 23rd. The scientific and technical instruments company reported $4.95 earnings per share for the quarter, topping the consensus estimate of $4.92 by $0.03. The firm had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.44 billion. Teledyne Technologies had a net margin of 14.37% and a return on equity of 9.95%. The company’s revenue was up 7.4% on a year-over-year basis. During the same quarter last year, the company earned $4.55 earnings per share. Equities analysts expect that Teledyne Technologies Incorporated will post 21.55 EPS for the current year.
Teledyne Technologies 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.
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