Connable Office Inc. Maintains Position in Teledyne Technologies Incorporated (NYSE:TDY)
Connable Office Inc. maintained its stake in Teledyne Technologies Incorporated (NYSE:TDY) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,466 shares of the scientific and technical instruments company’s stock at the end of the second quarter. Connable Office Inc.’s holdings in Teledyne Technologies were worth $315,000 at the end of the most recent quarter.
A number of other large investors have also recently bought and sold shares of the company. Teachers Advisors LLC raised its stake in Teledyne Technologies by 6.0% in the fourth quarter. Teachers Advisors LLC now owns 56,268 shares of the scientific and technical instruments company’s stock valued at $6,921,000 after buying an additional 3,205 shares during the period. Louisiana State Employees Retirement System raised its stake in Teledyne Technologies by 3.5% in the first quarter. Louisiana State Employees Retirement System now owns 8,900 shares of the scientific and technical instruments company’s stock valued at $1,125,000 after buying an additional 300 shares during the period. Oakbrook Investments LLC purchased a new stake in Teledyne Technologies during the first quarter valued at approximately $322,000. Retirement Systems of Alabama raised its stake in Teledyne Technologies by 0.8% in the first quarter. Retirement Systems of Alabama now owns 45,465 shares of the scientific and technical instruments company’s stock valued at $5,750,000 after buying an additional 343 shares during the period. Finally, Acadian Asset Management LLC raised its stake in Teledyne Technologies by 123,290.0% in the first quarter. Acadian Asset Management LLC now owns 12,339 shares of the scientific and technical instruments company’s stock valued at $1,561,000 after buying an additional 12,329 shares during the period. Institutional investors own 83.67% of the company’s stock.
Shares of Teledyne Technologies Incorporated (NYSE TDY) opened at 144.98 on Friday. The stock has a market capitalization of $5.25 billion, a price-to-earnings ratio of 26.73 and a beta of 0.98. The firm’s 50-day moving average price is $135.02 and its 200 day moving average price is $130.86. Teledyne Technologies Incorporated has a 1-year low of $101.90 and a 1-year high of $148.62.
Teledyne Technologies (NYSE:TDY) last posted its quarterly earnings results on Thursday, August 3rd. The scientific and technical instruments company reported $1.74 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.25 by $0.49. Teledyne Technologies had a net margin of 8.44% and a return on equity of 13.80%. The company had revenue of $671.10 million during the quarter, compared to the consensus estimate of $636.18 million. During the same period last year, the firm earned $1.32 EPS. The company’s revenue for the quarter was up 24.3% on a year-over-year basis. Equities research analysts expect that Teledyne Technologies Incorporated will post $5.69 earnings per share for the current fiscal year.
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TDY has been the subject of several research reports. Zacks Investment Research upgraded Teledyne Technologies from a “hold” rating to a “buy” rating and set a $139.00 price objective for the company in a research note on Saturday, April 15th. Jefferies Group LLC reiterated a “hold” rating and set a $140.00 price objective on shares of Teledyne Technologies in a research note on Friday, May 5th.
In other news, Director Simon M. Lorne sold 3,617 shares of the firm’s stock in a transaction that occurred on Thursday, May 25th. The shares were sold at an average price of $129.29, for a total transaction of $467,641.93. Following the completion of the transaction, the director now directly owns 30,190 shares of the company’s stock, valued at approximately $3,903,265.10. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Thomas H. Reslewic acquired 5,000 shares of the company’s stock in a transaction dated Thursday, June 29th. The shares were acquired at an average cost of $124.50 per share, with a total value of $622,500.00. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 25,207 shares of company stock valued at $3,459,722. Insiders own 3.30% of the company’s stock.
Teledyne Technologies Company Profile
Teledyne Technologies Incorporated provides enabling technologies for industrial growth markets. The Company’s segments include Instrumentation, Digital Imaging, Aerospace and Defense Electronics, and Engineered Systems. Instrumentation segment provides monitoring and control instruments for marine, environmental, industrial and other applications, as well as electronic test and measurement equipment.
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