Whittier Trust Co. grew its stake in Teledyne Technologies Incorporated (NYSE:TDY) by 3.9% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 21,650 shares of the scientific and technical instruments company’s stock after buying an additional 811 shares during the period. Whittier Trust Co.’s holdings in Teledyne Technologies were worth $5,131,000 as of its most recent SEC filing.
Several other large investors also recently made changes to their positions in the business. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its position in shares of Teledyne Technologies by 14.4% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 1,365 shares of the scientific and technical instruments company’s stock worth $324,000 after buying an additional 172 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in shares of Teledyne Technologies by 752.1% in the first quarter. Assenagon Asset Management S.A. now owns 70,719 shares of the scientific and technical instruments company’s stock worth $16,761,000 after buying an additional 62,420 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. lifted its position in shares of Teledyne Technologies by 15.9% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 2,191 shares of the scientific and technical instruments company’s stock worth $519,000 after buying an additional 300 shares during the last quarter. TradeLink Capital LLC acquired a new position in shares of Teledyne Technologies during the 1st quarter worth about $332,000. Finally, Virginia Retirement Systems ET AL lifted its position in shares of Teledyne Technologies by 17.9% during the 1st quarter. Virginia Retirement Systems ET AL now owns 9,200 shares of the scientific and technical instruments company’s stock worth $2,180,000 after purchasing an additional 1,400 shares during the last quarter. 84.78% of the stock is owned by institutional investors.
In related news, insider Robert Mehrabian sold 8,316 shares of the business’s stock in a transaction dated Tuesday, January 29th. The stock was sold at an average price of $220.00, for a total transaction of $1,829,520.00. Following the transaction, the insider now directly owns 191,469 shares in the company, valued at $42,123,180. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Schack Wesley W. Von sold 10,000 shares of the business’s stock in a transaction dated Friday, February 1st. The shares were sold at an average price of $226.00, for a total value of $2,260,000.00. The disclosure for this sale can be found here. Insiders have sold 37,081 shares of company stock worth $8,364,837 over the last 90 days. Corporate insiders own 3.19% of the company’s stock.
Teledyne Technologies (NYSE:TDY) last posted its quarterly earnings data on Wednesday, April 24th. The scientific and technical instruments company reported $2.02 earnings per share for the quarter, topping the consensus estimate of $1.92 by $0.10. Teledyne Technologies had a return on equity of 14.87% and a net margin of 11.61%. The business had revenue of $745.20 million during the quarter, compared to analysts’ expectations of $728.30 million. During the same quarter in the previous year, the firm earned $1.81 EPS. The firm’s revenue was up 7.1% compared to the same quarter last year. As a group, analysts expect that Teledyne Technologies Incorporated will post 9.5 EPS for the current year.
TDY has been the subject of several research analyst reports. Zacks Investment Research cut Teledyne Technologies from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 10th. Needham & Company LLC reissued a “buy” rating and set a $248.00 price objective (up previously from $240.00) on shares of Teledyne Technologies in a research report on Friday, March 15th. Finally, Cowen initiated coverage on Teledyne Technologies in a research report on Tuesday, April 2nd. They set an “outperform” rating and a $265.00 price objective for the company.
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About Teledyne Technologies
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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