Teacher Retirement System of Texas Invests $203,000 in Teledyne Technologies Incorporated (NYSE:TDY)

Teacher Retirement System of Texas bought a new stake in Teledyne Technologies Incorporated (NYSE:TDY) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 438 shares of the scientific and technical instruments company’s stock, valued at approximately $203,000.

A number of other institutional investors have also recently added to or reduced their stakes in the company. State Street Corp raised its stake in shares of Teledyne Technologies by 1.9% in the 3rd quarter. State Street Corp now owns 2,040,896 shares of the scientific and technical instruments company’s stock valued at $893,219,000 after acquiring an additional 37,884 shares during the period. Geode Capital Management LLC increased its holdings in Teledyne Technologies by 2.4% in the 3rd quarter. Geode Capital Management LLC now owns 1,192,019 shares of the scientific and technical instruments company’s stock valued at $520,335,000 after purchasing an additional 28,224 shares in the last quarter. JPMorgan Chase & Co. raised its position in Teledyne Technologies by 6.0% in the third quarter. JPMorgan Chase & Co. now owns 1,150,065 shares of the scientific and technical instruments company’s stock valued at $503,338,000 after purchasing an additional 64,617 shares during the period. Allspring Global Investments Holdings LLC boosted its position in shares of Teledyne Technologies by 10.5% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 318,712 shares of the scientific and technical instruments company’s stock worth $145,974,000 after buying an additional 30,157 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Teledyne Technologies by 3.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 302,579 shares of the scientific and technical instruments company’s stock valued at $140,436,000 after buying an additional 11,300 shares in the last quarter. Hedge funds and other institutional investors own 91.58% of the company’s stock.

Insider Buying and Selling at Teledyne Technologies

In other Teledyne Technologies news, Chairman Robert Mehrabian sold 5,768 shares of the firm’s stock in a transaction on Friday, January 31st. The stock was sold at an average price of $518.22, for a total value of $2,989,092.96. Following the sale, the chairman now directly owns 144,553 shares in the company, valued at approximately $74,910,255.66. This trade represents a 3.84 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Melanie Susan Cibik sold 706 shares of the company’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $519.96, for a total transaction of $367,091.76. Following the transaction, the executive vice president now owns 26,529 shares of the company’s stock, valued at $13,794,018.84. This represents a 2.59 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 34,571 shares of company stock worth $17,709,721 over the last 90 days. Insiders own 1.50% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on the company. UBS Group began coverage on Teledyne Technologies in a research report on Tuesday, December 10th. They set a “buy” rating and a $585.00 price target on the stock. Bank of America boosted their target price on shares of Teledyne Technologies from $550.00 to $600.00 and gave the stock a “buy” rating in a research report on Monday, March 17th. StockNews.com downgraded shares of Teledyne Technologies from a “buy” rating to a “hold” rating in a research note on Wednesday. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $585.00 price target on shares of Teledyne Technologies in a research note on Wednesday, February 5th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $548.00.

Teledyne Technologies Stock Performance

Shares of Teledyne Technologies stock opened at $500.16 on Thursday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.61 and a current ratio of 2.33. Teledyne Technologies Incorporated has a 1 year low of $355.41 and a 1 year high of $522.50. The firm’s 50-day simple moving average is $501.65 and its 200-day simple moving average is $476.36. The firm has a market cap of $23.43 billion, a PE ratio of 29.03, a price-to-earnings-growth ratio of 3.14 and a beta of 1.03.

Teledyne Technologies (NYSE:TDY) last released its earnings results on Wednesday, January 22nd. The scientific and technical instruments company reported $5.52 EPS for the quarter, topping analysts’ consensus estimates of $5.23 by $0.29. Teledyne Technologies had a return on equity of 9.94% and a net margin of 14.45%. The company had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.45 billion. During the same quarter last year, the business posted $5.44 EPS. Teledyne Technologies’s quarterly revenue was up 5.4% compared to the same quarter last year. Equities analysts forecast that Teledyne Technologies Incorporated will post 21.55 earnings per share for the current fiscal year.

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.