JPMorgan Chase & Co. Sells 120,279 Shares of Teledyne Technologies Incorporated (NYSE:TDY)

JPMorgan Chase & Co. cut its position in Teledyne Technologies Incorporated (NYSE:TDY) by 10.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,029,786 shares of the scientific and technical instruments company’s stock after selling 120,279 shares during the quarter. JPMorgan Chase & Co. owned about 2.21% of Teledyne Technologies worth $477,955,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Amundi grew its position in shares of Teledyne Technologies by 11.9% in the 4th quarter. Amundi now owns 124,874 shares of the scientific and technical instruments company’s stock valued at $57,687,000 after acquiring an additional 13,244 shares during the period. Covea Finance grew its holdings in Teledyne Technologies by 25.1% during the fourth quarter. Covea Finance now owns 21,400 shares of the scientific and technical instruments company’s stock worth $9,932,000 after purchasing an additional 4,300 shares during the period. ING Groep NV increased its position in Teledyne Technologies by 144.9% during the fourth quarter. ING Groep NV now owns 5,952 shares of the scientific and technical instruments company’s stock worth $2,763,000 after buying an additional 3,522 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in Teledyne Technologies by 10.9% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 6,515 shares of the scientific and technical instruments company’s stock valued at $3,024,000 after buying an additional 640 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Teledyne Technologies by 37.8% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,290 shares of the scientific and technical instruments company’s stock worth $2,021,000 after acquiring an additional 1,176 shares during the period. 91.58% of the stock is currently owned by institutional investors and hedge funds.

Teledyne Technologies Stock Down 2.4 %

TDY opened at $494.78 on Friday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.61 and a current ratio of 2.33. The stock has a fifty day moving average of $501.03 and a 200-day moving average of $474.86. Teledyne Technologies Incorporated has a fifty-two week low of $355.41 and a fifty-two week high of $522.50. The company has a market capitalization of $23.17 billion, a P/E ratio of 28.72, a P/E/G ratio of 3.14 and a beta of 1.03.

Teledyne Technologies (NYSE:TDY) last issued its quarterly earnings data on Wednesday, January 22nd. The scientific and technical instruments company reported $5.52 earnings per share for the quarter, topping the consensus estimate of $5.23 by $0.29. Teledyne Technologies had a net margin of 14.45% and a return on equity of 9.94%. The business had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.45 billion. During the same quarter in the previous year, the company earned $5.44 EPS. The business’s revenue was up 5.4% on a year-over-year basis. On average, equities analysts expect that Teledyne Technologies Incorporated will post 21.55 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on TDY. Needham & Company LLC restated a “buy” rating and issued a $585.00 price target on shares of Teledyne Technologies in a research note on Wednesday, February 5th. Bank of America raised their target price on shares of Teledyne Technologies from $550.00 to $600.00 and gave the stock a “buy” rating in a research note on Monday, March 17th. Finally, UBS Group started coverage on shares of Teledyne Technologies in a research note on Tuesday, December 10th. They issued a “buy” rating and a $585.00 price target on the stock. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $548.00.

Insider Activity at Teledyne Technologies

In related news, COO George C. Bobb III sold 6,308 shares of the business’s stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $507.77, for a total value of $3,203,013.16. Following the completion of the transaction, the chief operating officer now owns 10,482 shares of the company’s stock, valued at $5,322,445.14. The trade was a 37.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Cynthia Y. Belak sold 5,745 shares of the stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $508.34, for a total transaction of $2,920,413.30. Following the sale, the vice president now owns 4,962 shares in the company, valued at $2,522,383.08. The trade was a 53.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 34,571 shares of company stock worth $17,709,721. Company insiders own 1.50% of the company’s stock.

About Teledyne Technologies

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.