IFM Investors Pty Ltd Makes New Investment in Teledyne Technologies Incorporated (NYSE:TDY)

IFM Investors Pty Ltd purchased a new stake in Teledyne Technologies Incorporated (NYSE:TDY) during the 1st quarter, Holdings Channel reports. The institutional investor purchased 8,898 shares of the scientific and technical instruments company’s stock, valued at approximately $3,820,000.

Several other hedge funds and other institutional investors have also made changes to their positions in TDY. Aristotle Capital Management LLC bought a new stake in Teledyne Technologies during the 3rd quarter valued at $698,325,000. Norges Bank acquired a new position in shares of Teledyne Technologies during the fourth quarter valued at $243,111,000. Kayne Anderson Rudnick Investment Management LLC raised its stake in shares of Teledyne Technologies by 26.3% during the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 929,995 shares of the scientific and technical instruments company’s stock valued at $379,977,000 after purchasing an additional 193,544 shares in the last quarter. Maren Capital LLC acquired a new stake in shares of Teledyne Technologies in the 4th quarter worth approximately $82,700,000. Finally, JPMorgan Chase & Co. lifted its position in Teledyne Technologies by 19.7% in the third quarter. JPMorgan Chase & Co. now owns 922,621 shares of the scientific and technical instruments company’s stock worth $376,965,000 after purchasing an additional 151,659 shares during the period. 91.58% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Teledyne Technologies

In other news, Director Kenneth C. Dahlberg sold 4,000 shares of the company’s stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $432.91, for a total transaction of $1,731,640.00. Following the completion of the sale, the director now owns 18,735 shares in the company, valued at approximately $8,110,568.85. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, Director Michael T. Smith sold 511 shares of the firm’s stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $431.00, for a total value of $220,241.00. Following the transaction, the director now directly owns 56,492 shares in the company, valued at approximately $24,348,052. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kenneth C. Dahlberg sold 4,000 shares of the business’s stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $432.91, for a total transaction of $1,731,640.00. Following the transaction, the director now directly owns 18,735 shares of the company’s stock, valued at approximately $8,110,568.85. The disclosure for this sale can be found here. In the last 90 days, insiders sold 6,711 shares of company stock valued at $2,890,621. Insiders own 2.14% of the company’s stock.

Teledyne Technologies Stock Down 0.6 %

Shares of TDY traded down $2.34 during midday trading on Friday, reaching $374.64. 471,369 shares of the stock were exchanged, compared to its average volume of 283,257. The company has a market cap of $17.75 billion, a price-to-earnings ratio of 20.26, a P/E/G ratio of 2.58 and a beta of 1.02. The company has a quick ratio of 1.17, a current ratio of 1.81 and a debt-to-equity ratio of 0.28. Teledyne Technologies Incorporated has a 12-month low of $355.41 and a 12-month high of $448.19. The firm has a 50 day simple moving average of $416.42 and a 200-day simple moving average of $414.39.

Teledyne Technologies (NYSE:TDY) last posted its earnings results on Wednesday, April 24th. The scientific and technical instruments company reported $4.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.63 by ($0.08). Teledyne Technologies had a net margin of 15.81% and a return on equity of 10.54%. The business had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.39 billion. During the same quarter last year, the firm earned $4.53 earnings per share. Teledyne Technologies’s revenue was down 2.4% compared to the same quarter last year. Research analysts forecast that Teledyne Technologies Incorporated will post 19.35 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. StockNews.com cut shares of Teledyne Technologies from a “buy” rating to a “hold” rating in a research report on Thursday. Needham & Company LLC decreased their target price on Teledyne Technologies from $510.00 to $455.00 and set a “buy” rating for the company in a research report on Thursday. Bank of America lowered Teledyne Technologies from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $490.00 to $400.00 in a research report on Friday. Finally, TD Cowen reduced their price target on shares of Teledyne Technologies from $475.00 to $450.00 and set a “buy” rating for the company in a research report on Thursday. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $474.86.

Teledyne Technologies Company 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.