Kentucky Retirement Systems Cuts Holdings in Teledyne Technologies Incorporated (NYSE:TDY)

Kentucky Retirement Systems trimmed its holdings in shares of Teledyne Technologies Incorporated (NYSE:TDY) by 5.1% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 3,583 shares of the scientific and technical instruments company’s stock after selling 192 shares during the quarter. Kentucky Retirement Systems’ holdings in Teledyne Technologies were worth $1,538,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Norden Group LLC grew its holdings in Teledyne Technologies by 1.2% in the fourth quarter. Norden Group LLC now owns 2,149 shares of the scientific and technical instruments company’s stock worth $959,000 after purchasing an additional 25 shares during the last quarter. Weik Capital Management grew its holdings in Teledyne Technologies by 0.5% in the fourth quarter. Weik Capital Management now owns 5,390 shares of the scientific and technical instruments company’s stock worth $2,406,000 after purchasing an additional 25 shares during the last quarter. Van ECK Associates Corp grew its holdings in Teledyne Technologies by 23.1% in the fourth quarter. Van ECK Associates Corp now owns 181 shares of the scientific and technical instruments company’s stock worth $81,000 after purchasing an additional 34 shares during the last quarter. Czech National Bank grew its holdings in Teledyne Technologies by 0.5% in the first quarter. Czech National Bank now owns 8,302 shares of the scientific and technical instruments company’s stock worth $3,564,000 after purchasing an additional 38 shares during the last quarter. Finally, First National Trust Co grew its holdings in Teledyne Technologies by 0.4% in the first quarter. First National Trust Co now owns 11,011 shares of the scientific and technical instruments company’s stock worth $4,727,000 after purchasing an additional 40 shares during the last quarter. 91.58% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. TD Cowen dropped their price objective on shares of Teledyne Technologies from $475.00 to $450.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. Needham & Company LLC boosted their price objective on shares of Teledyne Technologies from $455.00 to $482.00 and gave the company a “buy” rating in a report on Thursday. Vertical Research assumed coverage on shares of Teledyne Technologies in a report on Tuesday, July 23rd. They set a “buy” rating and a $470.00 price objective on the stock. StockNews.com lowered shares of Teledyne Technologies from a “buy” rating to a “hold” rating in a report on Friday. Finally, Bank of America lowered shares of Teledyne Technologies from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $490.00 to $400.00 in a report on Friday, April 26th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $474.57.

Teledyne Technologies Stock Performance

NYSE TDY traded up $5.86 on Friday, reaching $421.56. 335,622 shares of the company’s stock traded hands, compared to its average volume of 287,438. The firm has a market cap of $19.97 billion, a price-to-earnings ratio of 22.80, a P/E/G ratio of 2.97 and a beta of 1.00. The stock has a 50 day moving average price of $394.20 and a 200-day moving average price of $408.95. 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 1.29 and a current ratio of 1.98.

Teledyne Technologies (NYSE:TDY) last posted its earnings results on Wednesday, July 24th. The scientific and technical instruments company reported $4.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.49 by $0.09. The company had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.36 billion. Teledyne Technologies had a net margin of 15.86% and a return on equity of 10.27%. The firm’s quarterly revenue was down 3.8% on a year-over-year basis. During the same period in the previous year, the firm posted $4.67 earnings per share. Equities research analysts predict that Teledyne Technologies Incorporated will post 19.34 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.