Principal Financial Group Inc. Trims Stock Position in Teledyne Technologies Incorporated (NYSE:TDY)

Principal Financial Group Inc. cut its position in Teledyne Technologies Incorporated (NYSE:TDY) by 1.7% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 54,934 shares of the scientific and technical instruments company’s stock after selling 969 shares during the quarter. Principal Financial Group Inc.’s holdings in Teledyne Technologies were worth $21,313,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of TDY. American National Bank bought a new position in shares of Teledyne Technologies in the second quarter worth $28,000. Innealta Capital LLC bought a new position in Teledyne Technologies in the 2nd quarter worth about $28,000. Kapitalo Investimentos Ltda bought a new position in Teledyne Technologies in the 4th quarter worth about $29,000. Crewe Advisors LLC boosted its position in shares of Teledyne Technologies by 319.0% during the 2nd quarter. Crewe Advisors LLC now owns 88 shares of the scientific and technical instruments company’s stock valued at $34,000 after acquiring an additional 67 shares during the last quarter. Finally, NBC Securities Inc. grew its holdings in shares of Teledyne Technologies by 89.4% during the first quarter. NBC Securities Inc. now owns 89 shares of the scientific and technical instruments company’s stock worth $38,000 after purchasing an additional 42 shares in the last quarter. 91.58% of the stock is owned by institutional investors.

Teledyne Technologies Price Performance

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

Teledyne Technologies (NYSE:TDY) last posted its quarterly earnings results on Wednesday, July 24th. The scientific and technical instruments company reported $4.58 earnings per share for the quarter, topping the consensus estimate of $4.49 by $0.09. Teledyne Technologies had a net margin of 15.86% and a return on equity of 10.27%. The business had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.36 billion. During the same period in the previous year, the firm posted $4.67 earnings per share. The firm’s revenue for the quarter was down 3.8% on a year-over-year basis. Equities research analysts expect that Teledyne Technologies Incorporated will post 19.4 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Vertical Research assumed coverage on shares of Teledyne Technologies in a research note on Tuesday, July 23rd. They issued a “buy” rating and a $470.00 target price on the stock. Needham & Company LLC raised 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. Finally, StockNews.com downgraded shares of Teledyne Technologies from a “buy” rating to a “hold” rating in a report on Sunday, August 11th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, Teledyne Technologies has a consensus rating of “Moderate Buy” and a consensus target price of $471.17.

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.