State of Alaska Department of Revenue Reduces Stock Position in Teledyne Technologies Incorporated (NYSE:TDY)

State of Alaska Department of Revenue trimmed its position in shares of Teledyne Technologies Incorporated (NYSE:TDY - Free Report) by 21.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,315 shares of the scientific and technical instruments company's stock after selling 1,430 shares during the period. State of Alaska Department of Revenue's holdings in Teledyne Technologies were worth $2,466,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Wolff Wiese Magana LLC purchased a new stake in Teledyne Technologies in the third quarter worth about $27,000. Brooklyn Investment Group bought a new position in Teledyne Technologies during the third quarter valued at approximately $32,000. Wilmington Savings Fund Society FSB bought a new position in Teledyne Technologies during the third quarter valued at approximately $39,000. Exchange Traded Concepts LLC lifted its position in Teledyne Technologies by 432.0% during the third quarter. Exchange Traded Concepts LLC now owns 133 shares of the scientific and technical instruments company's stock valued at $58,000 after purchasing an additional 108 shares during the period. Finally, Salem Investment Counselors Inc. lifted its position in Teledyne Technologies by 85.5% during the fourth quarter. Salem Investment Counselors Inc. now owns 230 shares of the scientific and technical instruments company's stock valued at $107,000 after purchasing an additional 106 shares during the period. 91.58% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

TDY has been the topic of several recent research reports. UBS Group initiated coverage on shares of Teledyne Technologies in a research report on Tuesday, December 10th. They issued a "buy" rating and a $585.00 price target 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 report on Wednesday, February 5th. TD Cowen increased their price target on shares of Teledyne Technologies from $450.00 to $500.00 and gave the stock a "buy" rating in a research report on Thursday, October 24th. Finally, Bank of America upgraded shares of Teledyne Technologies from a "neutral" rating to a "buy" rating and increased their price target for the stock from $450.00 to $550.00 in a research report on Friday, November 8th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $538.00.

Insider Transactions at Teledyne Technologies

In related news, Director Michael T. Smith sold 2,025 shares of the firm's stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $478.25, for a total transaction of $968,456.25. Following the completion of the transaction, the director now directly owns 54,935 shares of the company's stock, valued at approximately $26,272,663.75. This trade represents a 3.56 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman Robert Mehrabian sold 5,768 shares of the firm's stock in a transaction on Friday, January 31st. The shares were sold at an average price of $518.22, for a total transaction of $2,989,092.96. Following the transaction, the chairman now directly owns 144,553 shares of the company's stock, valued at $74,910,255.66. The trade was a 3.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 32,190 shares of company stock valued at $16,386,864 over the last three months. Corporate insiders own 2.14% of the company's stock.

Teledyne Technologies Price Performance

Shares of NYSE TDY traded down $9.54 during midday trading on Friday, reaching $489.74. The stock had a trading volume of 322,036 shares, compared to its average volume of 251,581. The stock has a 50-day moving average of $482.68 and a 200-day moving average of $457.55. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.61 and a current ratio of 2.33. The company has a market capitalization of $22.82 billion, a price-to-earnings ratio of 28.42, a price-to-earnings-growth ratio of 3.19 and a beta of 1.03. Teledyne Technologies Incorporated has a 12-month low of $355.41 and a 12-month high of $522.50.

Teledyne Technologies (NYSE:TDY - Get Free Report) last announced its quarterly earnings data on Wednesday, January 22nd. The scientific and technical instruments company reported $5.52 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.23 by $0.29. The firm had revenue of $1.50 billion during the quarter, compared to analysts' expectations of $1.45 billion. Teledyne Technologies had a net margin of 14.45% and a return on equity of 9.94%. The company's revenue for the quarter was up 5.4% compared to the same quarter last year. During the same period in the prior year, the company posted $5.44 earnings per share. As a group, research analysts anticipate that Teledyne Technologies Incorporated will post 21.59 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.