American International Group Inc. Sells 83 Shares of Teledyne Technologies Incorporated (NYSE:TDY)

American International Group Inc. decreased its stake in shares of Teledyne Technologies Incorporated (NYSE:TDY) by 0.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,368 shares of the scientific and technical instruments company’s stock after selling 83 shares during the period. American International Group Inc.’s holdings in Teledyne Technologies were worth $5,520,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of TDY. Vanguard Group Inc. raised its position in shares of Teledyne Technologies by 0.3% in the 3rd quarter. Vanguard Group Inc. now owns 5,440,032 shares of the scientific and technical instruments company’s stock worth $2,222,688,000 after acquiring an additional 13,645 shares in the last quarter. Aristotle Capital Management LLC purchased a new position in Teledyne Technologies during the third quarter valued at $698,325,000. JPMorgan Chase & Co. boosted its holdings in shares of Teledyne Technologies by 19.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 922,621 shares of the scientific and technical instruments company’s stock valued at $376,965,000 after buying an additional 151,659 shares in the last quarter. King Luther Capital Management Corp grew its position in shares of Teledyne Technologies by 1.6% in the 4th quarter. King Luther Capital Management Corp now owns 613,023 shares of the scientific and technical instruments company’s stock worth $273,586,000 after buying an additional 9,843 shares during the period. Finally, Norges Bank bought a new position in shares of Teledyne Technologies in the 4th quarter worth about $243,111,000. Hedge funds and other institutional investors own 91.58% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on TDY. Bank of America lowered shares of Teledyne Technologies from a “buy” rating to a “neutral” rating and reduced their price target for the company from $490.00 to $400.00 in a research report on Friday, April 26th. StockNews.com cut shares of Teledyne Technologies from a “buy” rating to a “hold” rating in a report on Thursday, April 25th. Needham & Company LLC dropped their price target on shares of Teledyne Technologies from $510.00 to $455.00 and set a “buy” rating on the stock in a research note on Thursday, April 25th. Finally, TD Cowen reduced their price objective on Teledyne Technologies from $475.00 to $450.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Teledyne Technologies has an average rating of “Moderate Buy” and a consensus target price of $470.83.

Teledyne Technologies Stock Performance

TDY opened at $388.60 on Friday. The firm has a market cap of $18.41 billion, a P/E ratio of 21.02, a PEG ratio of 2.72 and a beta of 1.04. Teledyne Technologies Incorporated has a 1-year low of $355.41 and a 1-year high of $448.19. The company has a 50 day simple moving average of $393.39 and a two-hundred day simple moving average of $415.21. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.81 and a quick ratio of 1.29.

Teledyne Technologies (NYSE:TDY) last issued its earnings results on Wednesday, April 24th. The scientific and technical instruments company reported $4.55 earnings per share for the quarter, missing the consensus estimate of $4.63 by ($0.08). The firm had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.39 billion. Teledyne Technologies had a return on equity of 10.54% and a net margin of 15.81%. The company’s quarterly revenue was down 2.4% on a year-over-year basis. During the same period in the prior year, the company posted $4.53 EPS. Equities analysts forecast that Teledyne Technologies Incorporated will post 19.36 earnings per share for the current fiscal year.

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.