CAPROCK Group Inc. Sells 375 Shares of Teledyne Technologies Incorporated (NYSE:TDY)

Posted by Defense World Staff on Apr 2nd, 2023

CAPROCK Group Inc. lowered its stake in Teledyne Technologies Incorporated (NYSE:TDY – Get Rating) by 31.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 801 shares of the scientific and technical instruments company’s stock after selling 375 shares during the period. CAPROCK Group Inc.’s holdings in Teledyne Technologies were worth $320,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in TDY. Durable Capital Partners LP bought a new stake in Teledyne Technologies in the first quarter valued at $140,332,000. Findlay Park Partners LLP bought a new stake in shares of Teledyne Technologies during the 3rd quarter valued at $67,821,000. Point72 Asset Management L.P. boosted its holdings in shares of Teledyne Technologies by 292.8% during the 2nd quarter. Point72 Asset Management L.P. now owns 213,661 shares of the scientific and technical instruments company’s stock valued at $80,146,000 after buying an additional 159,261 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of Teledyne Technologies by 60.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 337,996 shares of the scientific and technical instruments company’s stock valued at $159,746,000 after buying an additional 127,218 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its holdings in shares of Teledyne Technologies by 1.5% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 6,312,102 shares of the scientific and technical instruments company’s stock valued at $2,367,733,000 after buying an additional 90,871 shares in the last quarter. Institutional investors own 91.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on TDY. Credit Suisse Group began coverage on shares of Teledyne Technologies in a report on Monday, December 12th. They set an “outperform” rating and a $503.00 target price on the stock. StockNews.com assumed coverage on shares of Teledyne Technologies in a report on Thursday, March 16th. They set a “hold” rating on the stock. Morgan Stanley raised Teledyne Technologies from an “underweight” rating to an “equal weight” rating and lifted their price target for the stock from $445.00 to $488.00 in a research report on Monday, December 12th. Finally, Needham & Company LLC lifted their price target on Teledyne Technologies from $472.00 to $498.00 and gave the stock a “buy” rating in a research report on Thursday, January 26th. Two research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $496.33.

Teledyne Technologies Price Performance

Shares of NYSE:TDY opened at $447.36 on Friday. Teledyne Technologies Incorporated has a fifty-two week low of $325.00 and a fifty-two week high of $493.97. The business has a 50-day simple moving average of $428.06 and a two-hundred day simple moving average of $402.41. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.27 and a current ratio of 1.85. The firm has a market cap of $21.02 billion, a price-to-earnings ratio of 27.06, a price-to-earnings-growth ratio of 3.37 and a beta of 1.08.

Teledyne Technologies (NYSE:TDY – Get Rating) last issued its earnings results on Wednesday, January 25th. The scientific and technical instruments company reported $4.94 earnings per share for the quarter, topping analysts’ consensus estimates of $4.54 by $0.40. Teledyne Technologies had a return on equity of 11.00% and a net margin of 14.45%. The business had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.41 billion. During the same quarter in the previous year, the firm earned $4.56 EPS. Teledyne Technologies’s revenue was up 3.1% on a year-over-year basis. On average, analysts expect that Teledyne Technologies Incorporated will post 19.18 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Kenneth C. Dahlberg sold 4,000 shares of the company’s stock in a transaction dated Friday, January 27th. The shares were sold at an average price of $421.62, for a total transaction of $1,686,480.00. Following the completion of the sale, the director now owns 18,316 shares of the company’s stock, valued at approximately $7,722,391.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, VP Stephen Finis Blackwood sold 3,333 shares of the company’s stock in a transaction dated Thursday, February 2nd. The shares were sold at an average price of $434.00, for a total transaction of $1,446,522.00. Following the completion of the sale, the vice president now owns 11,773 shares of the company’s stock, valued at approximately $5,109,482. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kenneth C. Dahlberg sold 4,000 shares of the company’s stock in a transaction dated Friday, January 27th. The shares were sold at an average price of $421.62, for a total transaction of $1,686,480.00. Following the sale, the director now directly owns 18,316 shares of the company’s stock, valued at approximately $7,722,391.92. The disclosure for this sale can be found here. In the last 90 days, insiders sold 24,210 shares of company stock valued at $10,428,074. 2.14% of the stock is owned by insiders.

About Teledyne Technologies

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Teledyne Technologies, Inc engages in the provision of electronic and communication products for wireless and satellite systems. It operates through the following business segments: Instrumentation, Digital Imaging, Aerospace and Defense Electronics, and Engineered Systems. The Instrumentation segment provides monitoring and control instruments for marine, environmental, industrial, and other applications, and electronic test and measurement equipment.