Principal Financial Group Inc. Sells 969 Shares of Teledyne Technologies Incorporated (NYSE:TDY)

Principal Financial Group Inc. reduced its stake in Teledyne Technologies Incorporated (NYSE:TDY) by 1.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 54,934 shares of the scientific and technical instruments company’s stock after selling 969 shares during the period. Principal Financial Group Inc. owned approximately 0.12% of Teledyne Technologies worth $21,313,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Kapitalo Investimentos Ltda bought a new stake in shares of Teledyne Technologies during the 4th quarter valued at $29,000. American National Bank acquired a new stake in Teledyne Technologies during the second quarter worth about $28,000. Innealta Capital LLC bought a new position in Teledyne Technologies in the 2nd quarter valued at about $28,000. Crewe Advisors LLC raised its position in shares of Teledyne Technologies by 319.0% in the 2nd quarter. Crewe Advisors LLC now owns 88 shares of the scientific and technical instruments company’s stock valued at $34,000 after buying an additional 67 shares in the last quarter. Finally, NBC Securities Inc. lifted its holdings in shares of Teledyne Technologies by 89.4% during the 1st quarter. NBC Securities Inc. now owns 89 shares of the scientific and technical instruments company’s stock worth $38,000 after acquiring an additional 42 shares during the period. Institutional investors and hedge funds own 91.58% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Needham & Company LLC boosted their price objective on shares of Teledyne Technologies from $455.00 to $482.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. StockNews.com cut Teledyne Technologies from a “buy” rating to a “hold” rating in a report on Sunday, August 11th. Finally, Vertical Research initiated coverage on Teledyne Technologies in a research report on Tuesday, July 23rd. They set a “buy” rating and a $470.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $471.17.

Teledyne Technologies Stock Up 1.5 %

Shares of NYSE:TDY opened at $432.80 on Tuesday. Teledyne Technologies Incorporated has a 52-week low of $355.41 and a 52-week high of $448.19. The company has a market capitalization of $20.25 billion, a PE ratio of 23.41, a price-to-earnings-growth ratio of 3.04 and a beta of 1.02. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.28 and a current ratio of 1.98. The company has a fifty day moving average of $406.00 and a 200-day moving average of $406.24.

Teledyne Technologies (NYSE:TDY) last issued its quarterly earnings data on Wednesday, July 24th. The scientific and technical instruments company reported $4.58 earnings per share for the quarter, topping analysts’ consensus estimates of $4.49 by $0.09. The business had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.36 billion. Teledyne Technologies had a return on equity of 10.27% and a net margin of 15.86%. Teledyne Technologies’s quarterly revenue was down 3.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.67 EPS. On average, equities analysts predict that Teledyne Technologies Incorporated will post 19.4 EPS for the current fiscal year.

Teledyne Technologies Company Profile

Teledyne Technologies Incorporated, together with its subsidiaries, provides enabling technologies for industrial growth markets in the United States and internationally. Its Digital Imaging segment provides visible spectrum sensors and digital cameras; and infrared, ultraviolet, visible, and X-ray spectra; as well as micro electromechanical systems and semiconductors, including analog-to-digital and digital-to-analog converters.