Principal Financial Group Inc. Has $24.44 Million Stock Position in Teledyne Technologies Incorporated (NYSE:TDY)

Principal Financial Group Inc. increased its position in Teledyne Technologies Incorporated (NYSE:TDY) by 1.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 55,849 shares of the scientific and technical instruments company’s stock after purchasing an additional 915 shares during the quarter. Principal Financial Group Inc. owned approximately 0.12% of Teledyne Technologies worth $24,443,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Wolff Wiese Magana LLC bought a new position in Teledyne Technologies during the third quarter worth about $27,000. American National Bank bought a new position in Teledyne Technologies during the second quarter worth about $28,000. Innealta Capital LLC bought a new position in Teledyne Technologies during the second quarter worth about $28,000. Tortoise Investment Management LLC boosted its holdings in Teledyne Technologies by 48.0% during the second quarter. Tortoise Investment Management LLC now owns 74 shares of the scientific and technical instruments company’s stock worth $29,000 after buying an additional 24 shares during the last quarter. Finally, Crewe Advisors LLC boosted its holdings in Teledyne Technologies by 319.0% during the second quarter. Crewe Advisors LLC now owns 88 shares of the scientific and technical instruments company’s stock worth $34,000 after buying an additional 67 shares during the last quarter. 91.58% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Chairman Robert Mehrabian sold 46,075 shares of the stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $487.33, for a total transaction of $22,453,729.75. Following the completion of the transaction, the chairman now directly owns 171,802 shares in the company, valued at approximately $83,724,268.66. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.14% of the stock is owned by corporate insiders.

Teledyne Technologies Stock Up 0.1 %

NYSE:TDY opened at $487.88 on Wednesday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.35 and a current ratio of 2.00. The company has a market cap of $22.74 billion, a PE ratio of 24.67, a PEG ratio of 3.43 and a beta of 1.01. Teledyne Technologies Incorporated has a 52-week low of $355.41 and a 52-week high of $492.00. The stock has a 50-day simple moving average of $445.88 and a 200 day simple moving average of $416.21.

Teledyne Technologies (NYSE:TDY) last posted its quarterly earnings data on Wednesday, October 23rd. The scientific and technical instruments company reported $5.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.97 by $0.13. The business had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.42 billion. Teledyne Technologies had a return on equity of 10.02% and a net margin of 16.88%. Teledyne Technologies’s quarterly revenue was up 2.9% on a year-over-year basis. During the same period last year, the company earned $5.05 earnings per share. On average, sell-side analysts expect that Teledyne Technologies Incorporated will post 19.44 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. TD Cowen raised their target price on Teledyne Technologies from $450.00 to $500.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Needham & Company LLC raised their target price on Teledyne Technologies from $528.00 to $550.00 and gave the stock a “buy” rating in a report on Monday. StockNews.com upgraded Teledyne Technologies from a “hold” rating to a “buy” rating in a report on Wednesday, October 2nd. Bank of America upgraded Teledyne Technologies from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $450.00 to $550.00 in a report on Friday, November 8th. Finally, Vertical Research began coverage on Teledyne Technologies in a report on Tuesday, July 23rd. They set a “buy” rating and a $470.00 price objective on the stock. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $517.50.

Teledyne Technologies 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.