Teledyne Technologies Incorporated (NYSE:TDY) Shares Sold by Teacher Retirement System of Texas

Posted by Defense World Staff on Jun 5th, 2023

Teacher Retirement System of Texas lowered its stake in Teledyne Technologies Incorporated (NYSE:TDY – Get Rating) by 22.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 5,192 shares of the scientific and technical instruments company’s stock after selling 1,539 shares during the quarter. Teacher Retirement System of Texas’ holdings in Teledyne Technologies were worth $2,076,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Quadrant Capital Group LLC grew its stake in shares of Teledyne Technologies by 11.3% in the third quarter. Quadrant Capital Group LLC now owns 325 shares of the scientific and technical instruments company’s stock valued at $110,000 after buying an additional 33 shares in the last quarter. Greenleaf Trust acquired a new stake in Teledyne Technologies during the 4th quarter valued at approximately $348,000. Daiwa Securities Group Inc. grew its stake in Teledyne Technologies by 4.9% during the 4th quarter. Daiwa Securities Group Inc. now owns 5,663 shares of the scientific and technical instruments company’s stock valued at $2,265,000 after purchasing an additional 263 shares in the last quarter. Metis Global Partners LLC grew its stake in Teledyne Technologies by 39.5% during the 4th quarter. Metis Global Partners LLC now owns 974 shares of the scientific and technical instruments company’s stock valued at $390,000 after purchasing an additional 276 shares in the last quarter. Finally, Venturi Wealth Management LLC acquired a new stake in Teledyne Technologies during the 4th quarter valued at approximately $219,000. Institutional investors and hedge funds own 91.10% of the company’s stock.

Insider Transactions at Teledyne Technologies

In other Teledyne Technologies news, VP Melanie Susan Cibik sold 2,000 shares of the company’s stock in a transaction on Monday, May 15th. The stock was sold at an average price of $413.00, for a total transaction of $826,000.00. Following the transaction, the vice president now owns 27,305 shares of the company’s stock, valued at approximately $11,276,965. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 2.14% of the stock is owned by company insiders.

Analysts Set New Price Targets

TDY has been the subject of several research reports. Needham & Company LLC decreased their target price on Teledyne Technologies from $498.00 to $470.00 in a research report on Thursday, April 27th. StockNews.com upgraded Teledyne Technologies from a “hold” rating to a “buy” rating in a research report on Friday, May 26th. Credit Suisse Group cut their price target on Teledyne Technologies from $503.00 to $499.00 in a report on Friday, April 28th. Finally, Bank of America raised their price target on Teledyne Technologies from $533.00 to $565.00 in a report on Thursday, May 25th. One equities research analyst has rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $505.50.

Teledyne Technologies Stock Performance

Shares of TDY stock opened at $397.42 on Monday. Teledyne Technologies Incorporated has a 1-year low of $325.00 and a 1-year high of $448.71. The company has a current ratio of 1.94, a quick ratio of 1.30 and a debt-to-equity ratio of 0.42. The company has a market capitalization of $18.70 billion, a price-to-earnings ratio of 25.15, a P/E/G ratio of 3.21 and a beta of 1.08. The stock’s fifty day simple moving average is $419.30 and its 200-day simple moving average is $418.13.

Teledyne Technologies (NYSE:TDY – Get Rating) last announced its quarterly earnings results on Wednesday, April 26th. The scientific and technical instruments company reported $4.53 earnings per share for the quarter, topping analysts’ consensus estimates of $4.43 by $0.10. Teledyne Technologies had a return on equity of 10.98% and a net margin of 13.67%. The company had revenue of $1.38 billion during the quarter, compared to analysts’ expectations of $1.37 billion. During the same quarter in the previous year, the firm earned $4.27 earnings per share. The business’s quarterly revenue was up 4.7% compared to the same quarter last year. On average, sell-side analysts predict that Teledyne Technologies Incorporated will post 19.12 earnings per share for the current fiscal year.

Teledyne Technologies Profile

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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.