Oakbrook Investments LLC lessened its position in Teledyne Technologies Incorporated (NYSE:TDY) by 20.8% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 3,050 shares of the scientific and technical instruments company’s stock after selling 800 shares during the period. Oakbrook Investments LLC’s holdings in Teledyne Technologies were worth $835,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in the company. SG Capital Management LLC purchased a new position in Teledyne Technologies during the 1st quarter valued at about $19,355,000. Oppenheimer & Co. Inc. purchased a new position in Teledyne Technologies during the 1st quarter valued at about $235,000. United Services Automobile Association increased its holdings in Teledyne Technologies by 3.0% during the 4th quarter. United Services Automobile Association now owns 6,269 shares of the scientific and technical instruments company’s stock valued at $1,298,000 after acquiring an additional 183 shares in the last quarter. GYL Financial Synergies LLC purchased a new stake in shares of Teledyne Technologies during the first quarter worth about $1,401,000. Finally, CI Investments Inc. purchased a new stake in shares of Teledyne Technologies during the fourth quarter worth about $561,000. Institutional investors own 84.53% of the company’s stock.
Shares of NYSE TDY traded up $1.13 during midday trading on Tuesday, reaching $281.72. 6,494 shares of the stock were exchanged, compared to its average volume of 173,728. The stock has a market capitalization of $10.17 billion, a P/E ratio of 31.75, a P/E/G ratio of 3.87 and a beta of 1.16. Teledyne Technologies Incorporated has a 52-week low of $189.35 and a 52-week high of $281.34. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.54 and a quick ratio of 1.00. The stock’s 50 day simple moving average is $266.49.
Teledyne Technologies (NYSE:TDY) last issued its quarterly earnings results on Wednesday, April 24th. The scientific and technical instruments company reported $2.02 EPS for the quarter, topping analysts’ consensus estimates of $1.92 by $0.10. Teledyne Technologies had a net margin of 11.61% and a return on equity of 14.87%. The business had revenue of $745.20 million during the quarter, compared to the consensus estimate of $728.30 million. During the same period in the previous year, the firm posted $1.81 earnings per share. The company’s quarterly revenue was up 7.1% compared to the same quarter last year. Research analysts predict that Teledyne Technologies Incorporated will post 9.58 earnings per share for the current year.
In related news, insider Aldo Pichelli sold 6,704 shares of the firm’s stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $252.00, for a total value of $1,689,408.00. Following the sale, the insider now directly owns 93,084 shares of the company’s stock, valued at $23,457,168. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Cynthia Y. Belak sold 11,362 shares of the firm’s stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $264.49, for a total transaction of $3,005,135.38. Following the completion of the sale, the vice president now directly owns 14,407 shares in the company, valued at $3,810,507.43. The disclosure for this sale can be found here. Insiders sold 54,730 shares of company stock worth $13,920,845 over the last three months. Corporate insiders own 3.19% of the company’s stock.
A number of equities research analysts have recently commented on TDY shares. Berenberg Bank reiterated a “hold” rating and set a GBX 1,581 ($20.66) price target on shares of in a report on Tuesday, June 11th. Zacks Investment Research downgraded shares of Hope Bancorp from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 26th. Finally, Cowen lifted their price target on shares of Delta Air Lines from $62.00 to $67.00 and gave the stock an “outperform” rating in a report on Tuesday, April 2nd. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $256.40.
Teledyne Technologies Profile
Teledyne Technologies Incorporated provides instrumentation, digital imaging, aerospace and defense electronics, and engineered systems in the United States, the United Kingdom, Denmark, Canada, France, and the Netherlands. The company's Instrumentation segment offers monitoring and control instruments for marine, environmental, industrial, and other applications, as well as electronic test and measurement equipment; and power and communications connectivity devices for distributed instrumentation systems and sensor networks deployed in mission critical and harsh environments.
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