Public Employees Retirement System of Ohio Sells 1,406 Shares of Teledyne Technologies Incorporated (NYSE:TDY)

Public Employees Retirement System of Ohio decreased its position in Teledyne Technologies Incorporated (NYSE:TDY - Free Report) by 6.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 21,376 shares of the scientific and technical instruments company's stock after selling 1,406 shares during the quarter. Public Employees Retirement System of Ohio's holdings in Teledyne Technologies were worth $9,355,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. State Street Corp boosted its stake in 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 worth $893,219,000 after purchasing an additional 37,884 shares during the period. Janus Henderson Group PLC boosted its position in Teledyne Technologies by 0.6% during the 3rd quarter. Janus Henderson Group PLC now owns 1,709,475 shares of the scientific and technical instruments company's stock worth $748,167,000 after acquiring an additional 9,368 shares during the period. Kayne Anderson Rudnick Investment Management LLC boosted its stake in shares of Teledyne Technologies by 17.8% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,238,091 shares of the scientific and technical instruments company's stock valued at $480,355,000 after buying an additional 186,849 shares during the period. Earnest Partners LLC raised its stake in shares of Teledyne Technologies by 3.5% during the 2nd quarter. Earnest Partners LLC now owns 398,642 shares of the scientific and technical instruments company's stock worth $154,665,000 after purchasing an additional 13,576 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in Teledyne Technologies by 9.4% during the second quarter. Dimensional Fund Advisors LP now owns 375,265 shares of the scientific and technical instruments company's stock valued at $145,594,000 after acquiring an additional 32,339 shares in the last quarter. 91.58% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Chairman Robert Mehrabian sold 3,925 shares of the company's stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $490.50, for a total transaction of $1,925,212.50. Following the sale, the chairman now owns 171,802 shares in the company, valued at approximately $84,268,881. This represents a 2.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Michael T. Smith sold 2,025 shares of the stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $478.25, for a total value of $968,456.25. Following the completion of the sale, the director now directly owns 54,935 shares of the company's stock, valued at approximately $26,272,663.75. The trade was a 3.56 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 52,025 shares of company stock valued at $25,347,399. Company insiders own 2.14% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on TDY shares. UBS Group began coverage on Teledyne Technologies in a research note on Tuesday. They issued a "buy" rating and a $585.00 price objective on the stock. Needham & Company LLC upped their price objective on shares of Teledyne Technologies from $528.00 to $550.00 and gave the stock a "buy" rating in a report on Monday, November 11th. TD Cowen upped their price target on shares of Teledyne Technologies from $450.00 to $500.00 and gave the company a "buy" rating in a report on Thursday, October 24th. Bank of America upgraded 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. Finally, StockNews.com raised Teledyne Technologies from a "hold" rating to a "buy" rating in a research report on Wednesday, October 2nd. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $531.00.

Teledyne Technologies Price Performance

Shares of Teledyne Technologies stock traded down $3.91 during mid-day trading on Friday, reaching $475.05. 172,525 shares of the stock were exchanged, compared to its average volume of 241,941. The company has a current ratio of 2.00, a quick ratio of 1.35 and a debt-to-equity ratio of 0.28. The company has a market cap of $22.14 billion, a price-to-earnings ratio of 24.02, a price-to-earnings-growth ratio of 3.29 and a beta of 1.01. Teledyne Technologies Incorporated has a fifty-two week low of $355.41 and a fifty-two week high of $492.00. The firm has a 50-day simple moving average of $467.11 and a 200 day simple moving average of $429.19.

Teledyne Technologies (NYSE:TDY - Get Free Report) last posted its quarterly earnings data on Wednesday, October 23rd. The scientific and technical instruments company reported $5.10 EPS for the quarter, topping analysts' consensus estimates of $4.97 by $0.13. The company had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.42 billion. Teledyne Technologies had a return on equity of 10.02% and a net margin of 16.88%. The business's revenue was up 2.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $5.05 earnings per share. On average, sell-side analysts predict that Teledyne Technologies Incorporated will post 19.45 EPS for the current fiscal year.

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.