Retirement Systems of Alabama Buys 26 Shares of Teledyne Technologies Incorporated (TDY)

Retirement Systems of Alabama increased its stake in shares of Teledyne Technologies Incorporated (NYSE:TDY) by 0.1% during the second quarter, Holdings Channel reports. The fund owned 45,491 shares of the scientific and technical instruments company’s stock after buying an additional 26 shares during the period. Retirement Systems of Alabama’s holdings in Teledyne Technologies were worth $5,807,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. raised its stake in Teledyne Technologies by 17,074.2% in the first quarter. BlackRock Inc. now owns 3,937,353 shares of the scientific and technical instruments company’s stock valued at $497,917,000 after buying an additional 3,914,427 shares during the last quarter. Vanguard Group Inc. raised its stake in Teledyne Technologies by 6.0% in the first quarter. Vanguard Group Inc. now owns 2,671,329 shares of the scientific and technical instruments company’s stock valued at $337,816,000 after buying an additional 151,201 shares during the last quarter. Clearbridge Investments LLC raised its stake in Teledyne Technologies by 46.9% in the first quarter. Clearbridge Investments LLC now owns 469,287 shares of the scientific and technical instruments company’s stock valued at $59,346,000 after buying an additional 149,844 shares during the last quarter. State Street Corp raised its stake in Teledyne Technologies by 4.9% in the first quarter. State Street Corp now owns 1,260,869 shares of the scientific and technical instruments company’s stock valued at $159,450,000 after buying an additional 58,466 shares during the last quarter. Finally, AQR Capital Management LLC raised its stake in Teledyne Technologies by 146.3% in the first quarter. AQR Capital Management LLC now owns 78,970 shares of the scientific and technical instruments company’s stock worth $9,986,000 after buying an additional 46,910 shares during the last quarter. Institutional investors own 83.17% of the company’s stock.

Shares of Teledyne Technologies Incorporated (TDY) opened at 147.29 on Thursday. Teledyne Technologies Incorporated has a 1-year low of $101.90 and a 1-year high of $148.62. The firm has a 50-day moving average price of $137.42 and a 200-day moving average price of $131.59. The stock has a market cap of $5.20 billion, a price-to-earnings ratio of 27.16 and a beta of 0.98.

Teledyne Technologies (NYSE:TDY) last announced its quarterly earnings results on Thursday, August 3rd. The scientific and technical instruments company reported $1.74 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.25 by $0.49. Teledyne Technologies had a return on equity of 13.80% and a net margin of 8.44%. The business had revenue of $671.10 million for the quarter, compared to analyst estimates of $636.18 million. During the same quarter in the prior year, the company posted $1.32 EPS. The company’s quarterly revenue was up 24.3% on a year-over-year basis. Equities analysts forecast that Teledyne Technologies Incorporated will post $5.69 EPS for the current year.

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TDY has been the topic of a number of recent analyst reports. Zacks Investment Research upgraded Teledyne Technologies from a “hold” rating to a “buy” rating and set a $147.00 target price on the stock in a research note on Friday, June 2nd. BidaskClub upgraded Teledyne Technologies from a “sell” rating to a “hold” rating in a research note on Tuesday, June 20th. Jefferies Group LLC reiterated a “hold” rating and issued a $150.00 target price (up previously from $145.00) on shares of Teledyne Technologies in a research note on Wednesday, August 9th. Finally, Needham & Company LLC upgraded Teledyne Technologies from a “hold” rating to a “buy” rating and set a $148.00 target price on the stock in a research note on Wednesday, July 5th.

In other news, Director Simon M. Lorne sold 3,617 shares of the company’s stock in a transaction on Thursday, May 25th. The stock was sold at an average price of $129.29, for a total value of $467,641.93. Following the transaction, the director now owns 30,190 shares of the company’s stock, valued at approximately $3,903,265.10. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Paul David Miller sold 4,590 shares of the company’s stock in a transaction on Tuesday, May 30th. The shares were sold at an average price of $130.00, for a total value of $596,700.00. Following the completion of the transaction, the director now directly owns 21,992 shares in the company, valued at approximately $2,858,960. The disclosure for this sale can be found here. In the last ninety days, insiders sold 25,207 shares of company stock worth $3,459,722. Corporate insiders own 3.30% of the company’s stock.

About Teledyne Technologies

Teledyne Technologies Incorporated provides enabling technologies for industrial growth markets. The Company’s segments include Instrumentation, Digital Imaging, Aerospace and Defense Electronics, and Engineered Systems. Instrumentation segment provides monitoring and control instruments for marine, environmental, industrial and other applications, as well as electronic test and measurement equipment.

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Institutional Ownership by Quarter for Teledyne Technologies (NYSE:TDY)

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