Empirical Financial Services LLC d.b.a. Empirical Wealth Management Lowers Position in Teledyne Technologies Incorporated (NYSE:TDY)

Empirical Financial Services LLC d.b.a. Empirical Wealth Management lessened its stake in Teledyne Technologies Incorporated (NYSE:TDY) by 22.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,243 shares of the scientific and technical instruments company’s stock after selling 355 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in Teledyne Technologies were worth $577,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of TDY. Metis Global Partners LLC raised its stake in shares of Teledyne Technologies by 1.6% during the 3rd quarter. Metis Global Partners LLC now owns 1,514 shares of the scientific and technical instruments company’s stock worth $663,000 after buying an additional 24 shares during the period. Crumly & Associates Inc. raised 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 buying an additional 25 shares during the period. Raymond James Trust N.A. raised its stake 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 worth $241,000 after buying an additional 25 shares during the period. Bleakley Financial Group LLC raised its stake in shares of Teledyne Technologies by 4.0% during the 3rd quarter. Bleakley Financial Group LLC now owns 681 shares of the scientific and technical instruments company’s stock worth $298,000 after buying an additional 26 shares during the period. Finally, Frank Rimerman Advisors LLC raised its stake in shares of Teledyne Technologies by 4.8% during the 3rd quarter. Frank Rimerman Advisors LLC now owns 781 shares of the scientific and technical instruments company’s stock worth $342,000 after buying an additional 36 shares during the period. Hedge funds and other institutional investors own 91.58% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on TDY. StockNews.com raised Teledyne Technologies from a “hold” rating to a “buy” rating in a research note on Wednesday, October 2nd. Bank of America raised Teledyne Technologies from a “neutral” rating to a “buy” rating and increased their price objective for the company from $450.00 to $550.00 in a research note on Friday, November 8th. UBS Group initiated coverage on Teledyne Technologies in a research note on Tuesday, December 10th. They issued a “buy” rating and a $585.00 price objective for the company. TD Cowen increased 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. Finally, Needham & Company LLC increased their price objective on Teledyne Technologies from $528.00 to $550.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $531.00.

Teledyne Technologies Stock Up 0.1 %

Shares of NYSE:TDY opened at $509.22 on Wednesday. The company has a quick ratio of 1.35, a current ratio of 2.33 and a debt-to-equity ratio of 0.28. The business has a fifty day moving average of $475.48 and a two-hundred day moving average of $449.37. The stock has a market cap of $23.73 billion, a P/E ratio of 29.55, a PEG ratio of 3.24 and a beta of 1.01. Teledyne Technologies Incorporated has a 52-week low of $355.41 and a 52-week high of $518.85.

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

Insider Transactions at Teledyne Technologies

In other news, EVP Melanie Susan Cibik sold 2,538 shares of the stock in a transaction on Monday, January 27th. The stock was sold at an average price of $513.02, for a total transaction of $1,302,044.76. Following the completion of the transaction, the executive vice president now directly owns 32,100 shares in the company, valued at approximately $16,467,942. This represents a 7.33 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman Robert Mehrabian sold 46,075 shares of the stock in a transaction 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 transaction, the chairman now owns 171,802 shares of the company’s stock, valued at approximately $83,724,268.66. This represents a 21.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 68,116 shares of company stock worth $33,505,935. 2.14% of the stock is currently owned by company insiders.

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.