Teledyne Technologies Incorporated (NYSE:TDY) Position Lessened by Rhumbline Advisers

Rhumbline Advisers lowered its position in Teledyne Technologies Incorporated (NYSE:TDY) by 1.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 87,329 shares of the scientific and technical instruments company’s stock after selling 873 shares during the quarter. Rhumbline Advisers owned approximately 0.19% of Teledyne Technologies worth $40,533,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of TDY. Stratos Wealth Partners LTD. grew its stake in shares of Teledyne Technologies by 4.4% in the 4th quarter. Stratos Wealth Partners LTD. now owns 500 shares of the scientific and technical instruments company’s stock valued at $232,000 after buying an additional 21 shares in the last quarter. Metis Global Partners LLC grew its position in Teledyne Technologies by 1.6% in the third quarter. Metis Global Partners LLC now owns 1,514 shares of the scientific and technical instruments company’s stock worth $663,000 after acquiring an additional 24 shares in the last quarter. Crumly & Associates Inc. increased its stake in shares of Teledyne Technologies by 3.8% during the 3rd quarter. Crumly & Associates Inc. now owns 677 shares of the scientific and technical instruments company’s stock worth $296,000 after purchasing an additional 25 shares during the last quarter. Raymond James Trust N.A. raised its holdings in shares of Teledyne Technologies by 4.8% during the 3rd quarter. Raymond James Trust N.A. now owns 550 shares of the scientific and technical instruments company’s stock valued at $241,000 after purchasing an additional 25 shares in the last quarter. Finally, Bleakley Financial Group LLC lifted its stake in shares of Teledyne Technologies by 4.0% in the 3rd quarter. Bleakley Financial Group LLC now owns 681 shares of the scientific and technical instruments company’s stock valued at $298,000 after purchasing an additional 26 shares during the last quarter. 91.58% of the stock is owned by institutional investors and hedge funds.

Teledyne Technologies Stock Performance

Shares of NYSE TDY opened at $489.74 on Tuesday. Teledyne Technologies Incorporated has a 12 month low of $355.41 and a 12 month high of $522.50. The company has a market cap of $22.82 billion, a P/E ratio of 28.42, a P/E/G ratio of 3.19 and a beta of 1.03. The business’s 50 day moving average is $483.38 and its two-hundred day moving average is $459.01. The company has a quick ratio of 1.61, a current ratio of 2.33 and a debt-to-equity ratio of 0.28.

Teledyne Technologies (NYSE:TDY) last released its earnings results on Wednesday, January 22nd. The scientific and technical instruments company reported $5.52 EPS for the quarter, beating the consensus estimate of $5.23 by $0.29. The firm had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.45 billion. Teledyne Technologies had a net margin of 14.45% and a return on equity of 9.94%. The business’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same period in the prior year, the company earned $5.44 EPS. On average, equities analysts expect that Teledyne Technologies Incorporated will post 21.59 EPS for the current year.

Insider Activity at Teledyne Technologies

In other news, Chairman Robert Mehrabian sold 5,007 shares of Teledyne Technologies stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $510.33, for a total transaction of $2,555,222.31. Following the sale, the chairman now owns 144,553 shares of the company’s stock, valued at approximately $73,769,732.49. This trade represents a 3.35 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael T. Smith sold 2,025 shares of the business’s stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $478.25, for a total value of $968,456.25. Following the sale, the director now owns 54,935 shares in the company, valued at approximately $26,272,663.75. This represents a 3.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 32,190 shares of company stock worth $16,386,864. Company insiders own 2.14% of the company’s stock.

Analyst Ratings Changes

TDY has been the topic of several recent research reports. UBS Group started coverage on Teledyne Technologies in a report on Tuesday, December 10th. They set a “buy” rating and a $585.00 target price on the stock. TD Cowen raised their price objective on Teledyne Technologies from $450.00 to $500.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Bank of America raised Teledyne Technologies from a “neutral” rating to a “buy” rating and upped their target price for the stock from $450.00 to $550.00 in a research report on Friday, November 8th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $585.00 price target on shares of Teledyne Technologies in a research report on Wednesday, February 5th. Six research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and an average price target of $538.00.

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.