State of Alaska Department of Revenue raised its stake in shares of Teledyne Technologies Incorporated (NYSE:TDY) by 50.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,631 shares of the scientific and technical instruments company’s stock after buying an additional 1,890 shares during the period. State of Alaska Department of Revenue’s holdings in Teledyne Technologies were worth $1,333,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Bank of New York Mellon Corp raised its holdings in Teledyne Technologies by 3.0% during the third quarter. Bank of New York Mellon Corp now owns 505,762 shares of the scientific and technical instruments company’s stock valued at $124,761,000 after buying an additional 14,769 shares in the last quarter. Clearbridge Investments LLC raised its holdings in Teledyne Technologies by 3.4% during the third quarter. Clearbridge Investments LLC now owns 384,849 shares of the scientific and technical instruments company’s stock valued at $94,935,000 after buying an additional 12,721 shares in the last quarter. Citigroup Inc. raised its holdings in Teledyne Technologies by 47.7% during the fourth quarter. Citigroup Inc. now owns 14,548 shares of the scientific and technical instruments company’s stock valued at $3,013,000 after buying an additional 4,700 shares in the last quarter. CI Investments Inc. bought a new position in Teledyne Technologies during the fourth quarter valued at about $561,000. Finally, Prudential Financial Inc. raised its holdings in Teledyne Technologies by 8.4% during the fourth quarter. Prudential Financial Inc. now owns 122,552 shares of the scientific and technical instruments company’s stock valued at $25,376,000 after buying an additional 9,463 shares in the last quarter. Institutional investors own 84.77% of the company’s stock.
NYSE TDY opened at $252.43 on Friday. Teledyne Technologies Incorporated has a fifty-two week low of $177.68 and a fifty-two week high of $254.84. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.04 and a current ratio of 1.55. The stock has a market cap of $9.14 billion, a price-to-earnings ratio of 28.43, a P/E/G ratio of 3.59 and a beta of 1.10.
TDY has been the topic of several recent research reports. Zacks Investment Research upgraded Teledyne Technologies from a “hold” rating to a “buy” rating and set a $257.00 target price on the stock in a report on Tuesday, March 26th. Needham & Company LLC restated a “buy” rating and set a $248.00 target price (up from $240.00) on shares of Teledyne Technologies in a report on Friday, March 15th. Finally, Cowen initiated coverage on Teledyne Technologies in a report on Tuesday, April 2nd. They set an “outperform” rating and a $265.00 target price on the stock.
In other news, VP George C. Bobb III sold 6,000 shares of Teledyne Technologies stock in a transaction dated Monday, February 4th. The stock was sold at an average price of $225.00, for a total value of $1,350,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Michael T. Smith sold 551 shares of Teledyne Technologies stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $235.05, for a total value of $129,512.55. Following the completion of the transaction, the director now owns 36,638 shares in the company, valued at $8,611,761.90. The disclosure for this sale can be found here. Insiders sold 41,003 shares of company stock worth $9,212,822 over the last quarter. 3.19% of the stock is currently owned by corporate insiders.
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Teledyne Technologies Profile
Teledyne Technologies Incorporated provides instrumentation, digital imaging, aerospace and defense electronics, and engineered systems in the United States, the United Kingdom, Denmark, Canada, France, and the Netherlands. The company's Instrumentation segment offers monitoring and control instruments for marine, environmental, industrial, and other applications, as well as electronic test and measurement equipment; and power and communications connectivity devices for distributed instrumentation systems and sensor networks deployed in mission critical and harsh environments.
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