California Public Employees Retirement System Cuts Stock Holdings in Teledyne Technologies Incorporated (NYSE:TDY)

California Public Employees Retirement System decreased its stake in shares of Teledyne Technologies Incorporated (NYSE:TDY) by 3.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 85,388 shares of the scientific and technical instruments company’s stock after selling 2,813 shares during the period. California Public Employees Retirement System’s holdings in Teledyne Technologies were worth $38,108,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bruce G. Allen Investments LLC bought a new position in Teledyne Technologies during the fourth quarter valued at approximately $28,000. CVA Family Office LLC bought a new position in Teledyne Technologies in the fourth quarter worth approximately $31,000. Anchor Investment Management LLC bought a new position in Teledyne Technologies in the fourth quarter worth approximately $45,000. Cary Street Partners Investment Advisory LLC bought a new position in Teledyne Technologies in the third quarter worth approximately $44,000. Finally, Householder Group Estate & Retirement Specialist LLC raised its position in Teledyne Technologies by 63.2% in the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 111 shares of the scientific and technical instruments company’s stock worth $49,000 after acquiring an additional 43 shares during the period. Institutional investors own 91.58% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. TD Cowen decreased their price target on shares of Teledyne Technologies from $475.00 to $450.00 and set a “buy” rating on the stock in a research report on Thursday. StockNews.com cut shares of Teledyne Technologies from a “buy” rating to a “hold” rating in a research note on Thursday. Needham & Company LLC reduced their price objective on shares of Teledyne Technologies from $510.00 to $455.00 and set a “buy” rating for the company in a research note on Thursday. Finally, Bank of America cut shares of Teledyne Technologies from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $490.00 to $400.00 in a research note on Friday. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $474.86.

Teledyne Technologies Stock Performance

TDY opened at $374.64 on Friday. The stock has a market capitalization of $17.75 billion, a price-to-earnings ratio of 20.26, a PEG ratio of 2.58 and a beta of 1.02. The company has a fifty day moving average of $416.42 and a 200 day moving average of $414.39. Teledyne Technologies Incorporated has a fifty-two week low of $355.41 and a fifty-two week high of $448.19. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.17 and a current ratio of 1.81.

Teledyne Technologies (NYSE:TDY) last posted its earnings results on Wednesday, April 24th. The scientific and technical instruments company reported $4.55 earnings per share for the quarter, missing the consensus estimate of $4.63 by ($0.08). The company had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.39 billion. Teledyne Technologies had a net margin of 15.81% and a return on equity of 10.54%. The business’s revenue was down 2.4% on a year-over-year basis. During the same period in the previous year, the business posted $4.53 earnings per share. As a group, sell-side analysts forecast that Teledyne Technologies Incorporated will post 19.35 earnings per share for the current fiscal year.

Insider Activity at Teledyne Technologies

In other Teledyne Technologies news, Director Kenneth C. Dahlberg sold 4,000 shares of Teledyne Technologies stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $432.91, for a total value of $1,731,640.00. Following the completion of the transaction, the director now directly owns 18,735 shares of the company’s stock, valued at approximately $8,110,568.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Teledyne Technologies news, Director Simon M. Lorne sold 2,200 shares of Teledyne Technologies stock in a transaction on Friday, March 8th. The shares were sold at an average price of $426.70, for a total value of $938,740.00. Following the completion of the transaction, the director now directly owns 67,288 shares of the company’s stock, valued at approximately $28,711,789.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kenneth C. Dahlberg sold 4,000 shares of Teledyne Technologies stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $432.91, for a total transaction of $1,731,640.00. Following the completion of the transaction, the director now directly owns 18,735 shares of the company’s stock, valued at $8,110,568.85. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 6,711 shares of company stock valued at $2,890,621. Corporate insiders own 2.14% of the company’s stock.

Teledyne Technologies Company 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.