Stevens Capital Management LP grew its position in Teledyne Technologies Incorporated (NYSE:TDY) by 93.0% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 5,092 shares of the scientific and technical instruments company’s stock after acquiring an additional 2,453 shares during the period. Stevens Capital Management LP’s holdings in Teledyne Technologies were worth $953,000 at the end of the most recent quarter.
Other institutional investors have also recently modified their holdings of the company. Thrivent Financial for Lutherans raised its position in shares of Teledyne Technologies by 7.4% during the 1st quarter. Thrivent Financial for Lutherans now owns 8,342 shares of the scientific and technical instruments company’s stock worth $1,561,000 after purchasing an additional 573 shares during the last quarter. Engineers Gate Manager LP acquired a new position in shares of Teledyne Technologies during the 1st quarter worth about $2,511,000. Schwab Charles Investment Management Inc. raised its position in shares of Teledyne Technologies by 5.1% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 235,381 shares of the scientific and technical instruments company’s stock worth $44,057,000 after purchasing an additional 11,417 shares during the last quarter. Quantitative Systematic Strategies LLC raised its holdings in Teledyne Technologies by 48.0% in the 1st quarter. Quantitative Systematic Strategies LLC now owns 2,437 shares of the scientific and technical instruments company’s stock valued at $456,000 after acquiring an additional 790 shares during the last quarter. Finally, Swiss National Bank raised its holdings in Teledyne Technologies by 2.4% in the 1st quarter. Swiss National Bank now owns 58,600 shares of the scientific and technical instruments company’s stock valued at $10,968,000 after acquiring an additional 1,400 shares during the last quarter. Institutional investors and hedge funds own 84.05% of the company’s stock.
In other news, Director Charles Crocker sold 4,000 shares of the firm’s stock in a transaction on Wednesday, May 30th. The shares were sold at an average price of $199.00, for a total value of $796,000.00. Following the sale, the director now directly owns 45,619 shares in the company, valued at approximately $9,078,181. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Edwin Roks sold 11,334 shares of the firm’s stock in a transaction on Friday, June 1st. The shares were sold at an average price of $206.00, for a total transaction of $2,334,804.00. Following the completion of the sale, the vice president now owns 8,570 shares in the company, valued at $1,765,420. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 110,048 shares of company stock worth $21,801,902. 3.73% of the stock is owned by company insiders.
Teledyne Technologies (NYSE:TDY) last posted its quarterly earnings data on Thursday, May 3rd. The scientific and technical instruments company reported $1.81 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.55 by $0.26. The firm had revenue of $695.60 million during the quarter, compared to analysts’ expectations of $661.58 million. Teledyne Technologies had a net margin of 9.63% and a return on equity of 14.33%. The firm’s quarterly revenue was up 22.9% on a year-over-year basis. During the same quarter last year, the company posted $0.84 EPS. equities analysts expect that Teledyne Technologies Incorporated will post 7.55 earnings per share for the current fiscal year.
A number of research firms have commented on TDY. Needham & Company LLC reiterated a “buy” rating and issued a $210.00 price objective (up previously from $205.00) on shares of Teledyne Technologies in a report on Friday, May 4th. Zacks Investment Research downgraded shares of Teledyne Technologies from a “buy” rating to a “hold” rating in a report on Thursday, April 5th. Finally, ValuEngine raised shares of Teledyne Technologies from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $197.67.
About Teledyne Technologies
Teledyne Technologies Incorporated provides instrumentation, digital imaging, aerospace and defense electronics, and engineered systems in the United States, Canada, the United Kingdom, France, and internationally. 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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