Principal Financial Group Inc. Has $29.87 Million Position in Teledyne Technologies Incorporated (NYSE:TDY)

Principal Financial Group Inc. lifted its holdings in shares of Teledyne Technologies Incorporated (NYSE:TDY - Free Report) by 15.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 64,350 shares of the scientific and technical instruments company's stock after purchasing an additional 8,501 shares during the quarter. Principal Financial Group Inc. owned 0.14% of Teledyne Technologies worth $29,867,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. State Street Corp boosted its position in shares of Teledyne Technologies by 1.9% during 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 purchasing an additional 37,884 shares in the last quarter. Janus Henderson Group PLC grew its position in shares of Teledyne Technologies by 0.6% in the third quarter. Janus Henderson Group PLC now owns 1,709,475 shares of the scientific and technical instruments company's stock valued at $748,167,000 after purchasing an additional 9,368 shares in the last quarter. Geode Capital Management LLC increased its stake 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 worth $520,335,000 after acquiring an additional 28,224 shares during the last quarter. JPMorgan Chase & Co. increased its stake 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 acquiring an additional 64,617 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its position in Teledyne Technologies by 10.5% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 318,712 shares of the scientific and technical instruments company's stock valued at $145,974,000 after buying an additional 30,157 shares during the period. 91.58% of the stock is owned by institutional investors.

Teledyne Technologies Stock Performance

Shares of Teledyne Technologies stock traded up $1.73 during trading hours on Wednesday, hitting $502.16. 43,680 shares of the company were exchanged, compared to its average volume of 240,177. The business has a 50-day moving average of $486.23 and a 200-day moving average of $462.87. Teledyne Technologies Incorporated has a 1 year low of $355.41 and a 1 year high of $522.50. The stock has a market capitalization of $23.52 billion, a price-to-earnings ratio of 29.14, a P/E/G ratio of 3.14 and a beta of 1.03. The company has a current ratio of 2.33, a quick ratio of 1.61 and a debt-to-equity ratio of 0.28.

Teledyne Technologies (NYSE:TDY - Get Free Report) last posted its earnings results on Wednesday, January 22nd. The scientific and technical instruments company reported $5.52 earnings per share for the quarter, beating the consensus estimate of $5.23 by $0.29. Teledyne Technologies had a net margin of 14.45% and a return on equity of 9.94%. The firm had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.45 billion. During the same period last year, the firm posted $5.44 EPS. The firm's revenue for the quarter was up 5.4% on a year-over-year basis. As a group, analysts expect that Teledyne Technologies Incorporated will post 21.55 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on TDY. UBS Group initiated coverage on Teledyne Technologies in a report on Tuesday, December 10th. They set a "buy" rating and a $585.00 target price on the stock. Needham & Company LLC reiterated a "buy" rating and issued a $585.00 price target on shares of Teledyne Technologies in a research note on Wednesday, February 5th. Finally, Bank of America raised shares of Teledyne Technologies from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $450.00 to $550.00 in a research note on Friday, November 8th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Teledyne Technologies has a consensus rating of "Buy" and an average price target of $538.00.

Insider Transactions at Teledyne Technologies

In related news, COO George C. Bobb III sold 6,308 shares of the stock in a transaction dated 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. This trade represents a 37.57 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Robert Mehrabian sold 5,007 shares of the firm's stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $510.33, for a total transaction of $2,555,222.31. Following the transaction, the chairman now owns 144,553 shares of the company's stock, valued at approximately $73,769,732.49. This trade represents a 3.35 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 32,190 shares of company stock worth $16,386,864 in the last ninety days. Insiders own 1.88% of the company's stock.

Teledyne Technologies 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.