Principal Financial Group Inc. Decreases Stock Holdings in Teledyne Technologies Incorporated (NYSE:TDY)

Principal Financial Group Inc. trimmed its position in shares of Teledyne Technologies Incorporated (NYSE:TDY – Get Rating) by 3.5% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 56,305 shares of the scientific and technical instruments company’s stock after selling 2,048 shares during the quarter. Principal Financial Group Inc. owned about 0.12% of Teledyne Technologies worth $22,517,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Quadrant Capital Group LLC lifted its position in shares of Teledyne Technologies by 11.3% during the third quarter. Quadrant Capital Group LLC now owns 325 shares of the scientific and technical instruments company’s stock valued at $110,000 after buying an additional 33 shares during the last quarter. Greenleaf Trust purchased a new stake in shares of Teledyne Technologies during the fourth quarter valued at about $348,000. Ieq Capital LLC purchased a new stake in shares of Teledyne Technologies during the third quarter valued at about $440,000. Daiwa Securities Group Inc. raised its position in shares of Teledyne Technologies by 4.9% in the 4th quarter. Daiwa Securities Group Inc. now owns 5,663 shares of the scientific and technical instruments company’s stock valued at $2,265,000 after purchasing an additional 263 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. raised its position in shares of Teledyne Technologies by 13.4% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 1,799 shares of the scientific and technical instruments company’s stock valued at $607,000 after purchasing an additional 212 shares during the last quarter. 91.10% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, VP Melanie Susan Cibik sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, May 15th. The shares were sold at an average price of $413.00, for a total transaction of $826,000.00. Following the sale, the vice president now owns 27,305 shares of the company’s stock, valued at approximately $11,276,965. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Robert Mehrabian sold 3,400 shares of the firm’s stock in a transaction that occurred on Monday, March 6th. The shares were sold at an average price of $440.17, for a total transaction of $1,496,578.00. Following the sale, the chief executive officer now owns 196,052 shares of the company’s stock, valued at approximately $86,296,208.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Melanie Susan Cibik sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $413.00, for a total transaction of $826,000.00. Following the sale, the vice president now directly owns 27,305 shares in the company, valued at approximately $11,276,965. The disclosure for this sale can be found here. 2.14% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on TDY shares. Needham & Company LLC decreased their price objective on shares of Teledyne Technologies from $498.00 to $470.00 in a research report on Thursday, April 27th. StockNews.com lowered shares of Teledyne Technologies from a “buy” rating to a “hold” rating in a research report on Friday, May 12th. Finally, Credit Suisse Group decreased their price objective on shares of Teledyne Technologies from $503.00 to $499.00 in a research report on Friday, April 28th. Two research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, Teledyne Technologies currently has a consensus rating of “Moderate Buy” and an average target price of $485.67.

Teledyne Technologies Stock Performance

TDY opened at $416.26 on Friday. Teledyne Technologies Incorporated has a 12-month low of $325.00 and a 12-month high of $448.71. The company has a current ratio of 1.94, a quick ratio of 1.30 and a debt-to-equity ratio of 0.42. The firm has a market capitalization of $19.59 billion, a PE ratio of 26.35, a P/E/G ratio of 3.22 and a beta of 1.08. The firm has a 50 day moving average of $422.76 and a two-hundred day moving average of $418.60.

Teledyne Technologies (NYSE:TDY – Get Rating) last posted its quarterly earnings results on Wednesday, April 26th. The scientific and technical instruments company reported $4.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.43 by $0.10. Teledyne Technologies had a net margin of 13.67% and a return on equity of 10.98%. The company had revenue of $1.38 billion during the quarter, compared to analyst estimates of $1.37 billion. During the same period last year, the firm posted $4.27 EPS. Teledyne Technologies’s revenue for the quarter was up 4.7% compared to the same quarter last year. On average, analysts anticipate that Teledyne Technologies Incorporated will post 19.13 EPS for the current year.

Teledyne Technologies Profile

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Teledyne Technologies, Inc engages in the provision of electronic and communication products for wireless and satellite systems. It operates through the following business segments: Instrumentation, Digital Imaging, Aerospace and Defense Electronics, and Engineered Systems. The Instrumentation segment provides monitoring and control instruments for marine, environmental, industrial, and other applications, and electronic test and measurement equipment.