State of Alaska Department of Revenue Has $2.47 Million Holdings in Teledyne Technologies Incorporated (NYSE:TDY)

State of Alaska Department of Revenue trimmed its holdings in Teledyne Technologies Incorporated (NYSE:TDY) by 21.2% in the fourth quarter, Holdings Channel reports. The institutional investor owned 5,315 shares of the scientific and technical instruments company’s stock after selling 1,430 shares during the period. State of Alaska Department of Revenue’s holdings in Teledyne Technologies were worth $2,466,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the stock. Exchange Traded Concepts LLC raised its holdings in Teledyne Technologies by 432.0% in the 3rd quarter. Exchange Traded Concepts LLC now owns 133 shares of the scientific and technical instruments company’s stock valued at $58,000 after acquiring an additional 108 shares in the last quarter. Procyon Advisors LLC increased its position in shares of Teledyne Technologies by 34.2% in the third quarter. Procyon Advisors LLC now owns 974 shares of the scientific and technical instruments company’s stock worth $426,000 after purchasing an additional 248 shares during the period. Creative Planning lifted its position in Teledyne Technologies by 13.3% during the third quarter. Creative Planning now owns 4,184 shares of the scientific and technical instruments company’s stock worth $1,831,000 after purchasing an additional 492 shares during the period. Swedbank AB grew its stake in Teledyne Technologies by 0.6% during the third quarter. Swedbank AB now owns 16,296 shares of the scientific and technical instruments company’s stock worth $7,132,000 after buying an additional 100 shares in the last quarter. Finally, Hutchens & Kramer Investment Management Group LLC increased its holdings in Teledyne Technologies by 7.6% in the 3rd quarter. Hutchens & Kramer Investment Management Group LLC now owns 888 shares of the scientific and technical instruments company’s stock valued at $390,000 after buying an additional 63 shares during the period. 91.58% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on TDY shares. Needham & Company LLC reaffirmed a “buy” rating and set a $585.00 price target on shares of Teledyne Technologies in a report on Wednesday, February 5th. TD Cowen raised their target price on Teledyne Technologies from $450.00 to $500.00 and gave the company a “buy” rating in a report on Thursday, October 24th. UBS Group started coverage on Teledyne Technologies in a report on Tuesday, December 10th. They set a “buy” rating and a $585.00 price target for the company. Finally, Bank of America raised Teledyne Technologies from a “neutral” rating to a “buy” rating and raised their price objective for the company from $450.00 to $550.00 in a research note on Friday, November 8th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Teledyne Technologies presently has an average rating of “Buy” and an average price target of $538.00.

Teledyne Technologies Stock Performance

NYSE TDY opened at $511.38 on Tuesday. Teledyne Technologies Incorporated has a fifty-two week low of $355.41 and a fifty-two week high of $522.50. The stock has a market cap of $23.83 billion, a PE ratio of 29.68, a PEG ratio of 3.19 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. The firm’s fifty day moving average price is $480.48 and its two-hundred day moving average price is $455.64.

Teledyne Technologies (NYSE:TDY) last issued its quarterly earnings data on Wednesday, January 22nd. The scientific and technical instruments company reported $5.52 earnings per share for the quarter, topping analysts’ consensus estimates of $5.23 by $0.29. The business had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.45 billion. Teledyne Technologies had a return on equity of 9.94% and a net margin of 14.45%. Teledyne Technologies’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $5.44 EPS. On average, equities analysts expect that Teledyne Technologies Incorporated will post 21.59 EPS for the current fiscal year.

Insider Activity

In related news, COO George C. Bobb III sold 6,308 shares of the business’s stock in a transaction on Friday, January 24th. The shares were sold at an average price of $507.77, for a total value of $3,203,013.16. Following the sale, the chief operating officer now owns 10,482 shares of the company’s stock, valued at $5,322,445.14. The trade was a 37.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Cynthia Y. Belak sold 5,745 shares of the firm’s stock in a transaction on Friday, January 24th. The stock was sold at an average price of $508.34, for a total value of $2,920,413.30. Following the transaction, the vice president now directly owns 4,962 shares of the company’s stock, valued at approximately $2,522,383.08. This represents a 53.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 32,190 shares of company stock valued at $16,386,864 over 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.