Principal Financial Group Inc. Acquires 14,776 Shares of Teledyne Technologies Inc. (TDY)
Principal Financial Group Inc. raised its stake in shares of Teledyne Technologies Inc. (NYSE:TDY) by 12.7% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 130,842 shares of the company’s stock after buying an additional 14,776 shares during the period. Principal Financial Group Inc. owned approximately 0.37% of Teledyne Technologies worth $12,960,000 at the end of the most recent quarter.
Several other hedge funds have also made changes to their positions in the stock. BNP Paribas Arbitrage SA boosted its stake in shares of Teledyne Technologies by 2,337.2% in the second quarter. BNP Paribas Arbitrage SA now owns 17,036 shares of the company’s stock valued at $1,687,000 after buying an additional 16,337 shares in the last quarter. Squarepoint Ops LLC purchased a new stake in Teledyne Technologies during the first quarter worth $627,000. Springbok Capital Management LLC raised its stake in Teledyne Technologies by 800.0% in the first quarter. Springbok Capital Management LLC now owns 1,800 shares of the company’s stock worth $159,000 after buying an additional 1,600 shares during the period. Jacobs Levy Equity Management Inc. raised its stake in Teledyne Technologies by 26.1% in the first quarter. Jacobs Levy Equity Management Inc. now owns 92,093 shares of the company’s stock worth $8,117,000 after buying an additional 19,090 shares during the period. Finally, Wellington Management Group LLP raised its stake in Teledyne Technologies by 0.5% in the first quarter. Wellington Management Group LLP now owns 2,018,006 shares of the company’s stock worth $177,868,000 after buying an additional 10,200 shares during the period. Hedge funds and other institutional investors own 87.85% of the company’s stock.
Shares of Teledyne Technologies Inc. (NYSE:TDY) opened at 105.28 on Monday. The company has a 50-day moving average of $107.29 and a 200-day moving average of $99.69. Teledyne Technologies Inc. has a 52-week low of $73.66 and a 52-week high of $110.61. The stock has a market capitalization of $3.65 billion, a price-to-earnings ratio of 19.78 and a beta of 0.94.
Teledyne Technologies (NYSE:TDY) last announced its earnings results on Thursday, August 4th. The company reported $1.32 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.24 by $0.08. Teledyne Technologies had a net margin of 8.46% and a return on equity of 13.03%. The business had revenue of $534.90 million for the quarter, compared to analyst estimates of $546.57 million. During the same quarter last year, the business earned $1.34 earnings per share. The company’s revenue for the quarter was down 6.7% compared to the same quarter last year. Equities research analysts anticipate that Teledyne Technologies Inc. will post $5.16 EPS for the current year.
A number of analysts recently weighed in on the stock. Zacks Investment Research raised shares of Teledyne Technologies from a “sell” rating to a “hold” rating in a research report on Thursday, July 7th. Jefferies Group increased their price objective on shares of Teledyne Technologies from $90.00 to $105.00 and gave the stock a “hold” rating in a research report on Friday, August 5th. Finally, CL King lowered shares of Teledyne Technologies from a “buy” rating to a “neutral” rating and set a $107.00 price objective on the stock. in a research report on Wednesday, July 6th.
In other news, Chairman Robert Mehrabian sold 35,000 shares of Teledyne Technologies stock in a transaction dated Monday, August 8th. The shares were sold at an average price of $105.57, for a total value of $3,694,950.00. Following the sale, the chairman now owns 283,754 shares in the company, valued at $29,955,909.78. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Aldo Pichelli sold 8,535 shares of Teledyne Technologies stock in a transaction dated Tuesday, August 9th. The shares were sold at an average price of $106.02, for a total transaction of $904,880.70. Following the completion of the sale, the chief operating officer now owns 81,202 shares in the company, valued at approximately $8,609,036.04. The disclosure for this sale can be found here. 3.93% of the stock is currently owned by insiders.
About Teledyne Technologies
Teledyne Technologies Incorporated provides enabling technologies for industrial markets. The Company caters to a range of markets, which include deepwater oil and gas exploration and production, oceanographic research, and air and water quality environmental monitoring. Its products include monitoring and control instrumentation for marine and environmental applications, harsh environment interconnects, and electronic test and measurement equipment.
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