Teledyne Technologies Inc. (TDY) Position Reduced by Nationwide Fund Advisors
Nationwide Fund Advisors decreased its stake in shares of Teledyne Technologies Inc. (NYSE:TDY) by 3.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 104,399 shares of the company’s stock after selling 3,622 shares during the period. Nationwide Fund Advisors owned 0.30% of Teledyne Technologies worth $10,341,000 at the end of the most recent quarter.
A number of other hedge funds have also modified their holdings of the stock. Scout Investments Inc. increased its stake in Teledyne Technologies by 0.3% in the second quarter. Scout Investments Inc. now owns 37,725 shares of the company’s stock worth $3,737,000 after buying an additional 100 shares during the last quarter. Whittier Trust Co. increased its stake in Teledyne Technologies by 1.2% in the second quarter. Whittier Trust Co. now owns 13,794 shares of the company’s stock worth $1,366,000 after buying an additional 168 shares during the last quarter. Daiwa Securities Group Inc. increased its stake in Teledyne Technologies by 1.0% in the second quarter. Daiwa Securities Group Inc. now owns 21,150 shares of the company’s stock worth $2,095,000 after buying an additional 210 shares during the last quarter. Cardinal Capital Management increased its stake in Teledyne Technologies by 6.4% in the second quarter. Cardinal Capital Management now owns 3,754 shares of the company’s stock worth $372,000 after buying an additional 227 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund increased its stake in Teledyne Technologies by 2.4% in the second quarter. Oregon Public Employees Retirement Fund now owns 11,838 shares of the company’s stock worth $1,173,000 after buying an additional 279 shares during the last quarter. 87.86% of the stock is currently owned by institutional investors.
Shares of Teledyne Technologies Inc. (NYSE:TDY) opened at 103.77 on Friday. The company has a market cap of $3.60 billion, a P/E ratio of 19.50 and a beta of 0.99. The firm has a 50-day moving average price of $106.49 and a 200-day moving average price of $97.29. Teledyne Technologies Inc. has a 1-year low of $73.66 and a 1-year high of $109.49.
Teledyne Technologies (NYSE:TDY) last posted its earnings results on Thursday, August 4th. The company reported $1.32 EPS for the quarter, topping the consensus estimate of $1.24 by $0.08. The firm had revenue of $534.90 million for the quarter, compared to analyst estimates of $546.57 million. Teledyne Technologies had a return on equity of 13.03% and a net margin of 8.46%. Teledyne Technologies’s revenue for the quarter was down 6.7% compared to the same quarter last year. During the same period last year, the company earned $1.34 earnings per share. On average, equities analysts expect that Teledyne Technologies Inc. will post $5.16 EPS for the current year.
A number of research firms have issued reports on TDY. Zacks Investment Research raised Teledyne Technologies from a “sell” rating to a “hold” rating in a research note on Thursday, July 7th. Jefferies Group lifted their price objective on Teledyne Technologies from $90.00 to $105.00 and gave the stock a “hold” rating in a research note on Friday, August 5th. Finally, CL King downgraded Teledyne Technologies from a “buy” rating to a “neutral” rating and set a $107.00 price objective on the stock. in a research note on Wednesday, July 6th.
In related news, SVP Jason Vanwees sold 3,000 shares of the firm’s stock in a transaction dated Monday, August 8th. The stock was sold at an average price of $105.44, for a total transaction of $316,320.00. Following the sale, the senior vice president now directly owns 31,017 shares of the company’s stock, valued at $3,270,432.48. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Paul David Miller sold 4,695 shares of the firm’s stock in a transaction dated Thursday, September 8th. The stock was sold at an average price of $108.56, for a total value of $509,689.20. Following the sale, the director now directly owns 21,257 shares in the company, valued at $2,307,659.92. The disclosure for this sale can be found here. Corporate insiders own 3.93% of the company’s stock.
Teledyne Technologies Company Profile
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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