Flagship Harbor Advisors LLC Cuts Position in Teledyne Technologies Incorporated (NYSE:TDY)

Flagship Harbor Advisors LLC trimmed its holdings in shares of Teledyne Technologies Incorporated (NYSE:TDY) by 9.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 767 shares of the scientific and technical instruments company’s stock after selling 80 shares during the period. Flagship Harbor Advisors LLC’s holdings in Teledyne Technologies were worth $356,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Wolff Wiese Magana LLC acquired a new position in shares of Teledyne Technologies during the 3rd quarter valued at $27,000. Brooklyn Investment Group purchased a new position in Teledyne Technologies in the third quarter valued at about $32,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Teledyne Technologies during the third quarter worth about $39,000. Quarry LP boosted its position in shares of Teledyne Technologies by 706.3% in the second quarter. Quarry LP now owns 129 shares of the scientific and technical instruments company’s stock worth $50,000 after buying an additional 113 shares during the period. Finally, Exchange Traded Concepts LLC grew its stake in shares of Teledyne Technologies by 432.0% in the third quarter. Exchange Traded Concepts LLC now owns 133 shares of the scientific and technical instruments company’s stock valued at $58,000 after buying an additional 108 shares in the last quarter. 91.58% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on TDY shares. Needham & Company LLC upped their price target on Teledyne Technologies from $528.00 to $550.00 and gave the stock a “buy” rating in a report on Monday, November 11th. TD Cowen upped their target price on shares of 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 shares of Teledyne Technologies from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $450.00 to $550.00 in a research note on Friday, November 8th. StockNews.com raised shares of Teledyne Technologies from a “hold” rating to a “buy” rating in a research report on Wednesday, October 2nd. Finally, UBS Group initiated coverage on Teledyne Technologies in a research report on Tuesday, December 10th. They set a “buy” rating and a $585.00 target price on the stock. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $531.00.

Teledyne Technologies Price Performance

TDY opened at $509.22 on Wednesday. The company has a market capitalization of $23.73 billion, a P/E ratio of 29.55, a PEG ratio of 3.24 and a beta of 1.01. The company has a 50-day moving average of $475.48 and a 200-day moving average of $449.37. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.35 and a current ratio of 2.33. Teledyne Technologies Incorporated has a 1-year low of $355.41 and a 1-year high of $518.85.

Teledyne Technologies (NYSE:TDY) last announced its quarterly earnings data on Wednesday, January 22nd. The scientific and technical instruments company reported $5.52 earnings per share for the quarter, beating the consensus estimate of $5.23 by $0.29. Teledyne Technologies had a return on equity of 9.94% and a net margin of 14.45%. The firm had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.45 billion. During the same period in the previous year, the company earned $5.44 earnings per share. Teledyne Technologies’s quarterly revenue was up 5.4% on a year-over-year basis. Equities analysts expect that Teledyne Technologies Incorporated will post 21.3 EPS for the current fiscal year.

Insider Activity at Teledyne Technologies

In other Teledyne Technologies news, Chairman Robert Mehrabian sold 46,075 shares of Teledyne Technologies stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $487.33, for a total value of $22,453,729.75. Following the completion of the transaction, the chairman now directly owns 171,802 shares in the company, valued at $83,724,268.66. The trade was a 21.15 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Cynthia Y. Belak sold 5,745 shares of the stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $508.34, for a total value 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. In the last ninety days, insiders have sold 68,116 shares of company stock valued at $33,505,935. Corporate insiders own 2.14% of the company’s stock.

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.