Sentry Investment Management LLC Reduces Position in Teledyne Technologies Incorporated (NYSE:TDY)

Sentry Investment Management LLC trimmed its position in Teledyne Technologies Incorporated (NYSE:TDY) by 14.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 176 shares of the scientific and technical instruments company’s stock after selling 29 shares during the period. Sentry Investment Management LLC’s holdings in Teledyne Technologies were worth $82,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the company. Brooklyn Investment Group purchased a new stake in shares of Teledyne Technologies in the third quarter valued at $32,000. Wilmington Savings Fund Society FSB acquired a new stake in Teledyne Technologies in the 3rd quarter worth about $39,000. Newbridge Financial Services Group Inc. purchased a new stake in Teledyne Technologies in the 4th quarter valued at about $46,000. Allworth Financial LP increased its stake in shares of Teledyne Technologies by 15.1% during the 4th quarter. Allworth Financial LP now owns 206 shares of the scientific and technical instruments company’s stock valued at $105,000 after acquiring an additional 27 shares during the last quarter. Finally, Salem Investment Counselors Inc. lifted its holdings in shares of Teledyne Technologies by 85.5% during the 4th quarter. Salem Investment Counselors Inc. now owns 230 shares of the scientific and technical instruments company’s stock worth $107,000 after acquiring an additional 106 shares during the period. Hedge funds and other institutional investors own 91.58% of the company’s stock.

Insider Buying and Selling at Teledyne Technologies

In other news, VP Cynthia Y. Belak sold 5,745 shares of Teledyne Technologies 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 directly owns 4,962 shares of the company’s stock, valued at approximately $2,522,383.08. The trade was a 53.66 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Michael T. Smith sold 2,025 shares of the business’s stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $478.25, for a total value of $968,456.25. Following the completion of the transaction, the director now owns 54,935 shares in the company, valued at approximately $26,272,663.75. This trade represents a 3.56 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 32,190 shares of company stock valued at $16,386,864 over the last 90 days. 1.88% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Bank of America raised shares of Teledyne Technologies from a “neutral” rating to a “buy” rating and upped their price target for the stock from $450.00 to $550.00 in a research report on Friday, November 8th. Needham & Company LLC restated a “buy” rating and set a $585.00 price objective on shares of Teledyne Technologies in a report on Wednesday, February 5th. Finally, UBS Group started coverage on Teledyne Technologies in a report on Tuesday, December 10th. They issued a “buy” rating and a $585.00 target price on the stock. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Teledyne Technologies has a consensus rating of “Buy” and an average price target of $538.00.

Teledyne Technologies Price Performance

Teledyne Technologies stock opened at $500.73 on Friday. The company has a quick ratio of 1.61, a current ratio of 2.33 and a debt-to-equity ratio of 0.28. The firm has a market capitalization of $23.45 billion, a P/E ratio of 29.06, a PEG ratio of 3.14 and a beta of 1.03. The firm has a fifty day moving average of $487.08 and a 200-day moving average of $463.14. Teledyne Technologies Incorporated has a 52-week low of $355.41 and a 52-week high of $522.50.

Teledyne Technologies (NYSE:TDY) last released its quarterly earnings data 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. Teledyne Technologies had a return on equity of 9.94% and a net margin of 14.45%. The company had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.45 billion. During the same period last year, the company posted $5.44 earnings per share. The firm’s revenue was up 5.4% compared to the same quarter last year. As a group, analysts predict that Teledyne Technologies Incorporated will post 21.55 EPS for the current year.

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.