HighTower Advisors LLC Reduces Position in Teledyne Technologies Incorporated (NYSE:TDY)

HighTower Advisors LLC lessened its stake in shares of Teledyne Technologies Incorporated (NYSE:TDY) by 1.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 7,703 shares of the scientific and technical instruments company’s stock after selling 124 shares during the quarter. HighTower Advisors LLC’s holdings in Teledyne Technologies were worth $3,575,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Net Worth Advisory Group boosted its stake in shares of Teledyne Technologies by 1.5% during the fourth quarter. Net Worth Advisory Group now owns 1,802 shares of the scientific and technical instruments company’s stock valued at $836,000 after purchasing an additional 27 shares during the period. Tortoise Investment Management LLC boosted its stake in shares of Teledyne Technologies by 63.2% during the fourth quarter. Tortoise Investment Management LLC now owns 124 shares of the scientific and technical instruments company’s stock valued at $58,000 after purchasing an additional 48 shares during the period. Independent Advisor Alliance bought a new position in shares of Teledyne Technologies during the fourth quarter valued at approximately $251,000. Daiwa Securities Group Inc. raised its holdings in shares of Teledyne Technologies by 5.0% during the fourth quarter. Daiwa Securities Group Inc. now owns 8,223 shares of the scientific and technical instruments company’s stock valued at $3,817,000 after acquiring an additional 390 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Teledyne Technologies by 6.2% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,362 shares of the scientific and technical instruments company’s stock valued at $4,809,000 after acquiring an additional 608 shares in the last quarter. Hedge funds and other institutional investors own 91.58% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on TDY shares. Needham & Company LLC restated a “buy” rating and set a $585.00 target price on shares of Teledyne Technologies in a report on Wednesday, February 5th. UBS Group started coverage on Teledyne Technologies in a report on Tuesday, December 10th. They set a “buy” rating and a $585.00 target price for the company. Finally, Bank of America upped their target price on Teledyne Technologies from $550.00 to $600.00 and gave the company a “buy” rating in a report on Monday. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $548.00.

Teledyne Technologies Price Performance

TDY opened at $499.60 on Friday. Teledyne Technologies Incorporated has a 12-month low of $355.41 and a 12-month high of $522.50. The company has a current ratio of 2.33, a quick ratio of 1.61 and a debt-to-equity ratio of 0.28. The stock has a fifty day simple moving average of $496.34 and a two-hundred day simple moving average of $471.23. The company has a market cap of $23.40 billion, a price-to-earnings ratio of 29.00, a price-to-earnings-growth ratio of 3.14 and a beta of 1.03.

Teledyne Technologies (NYSE:TDY) last issued its quarterly earnings results 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 the consensus estimate of $1.45 billion. During the same period last year, the company earned $5.44 earnings per share. The company’s revenue was up 5.4% on a year-over-year basis. Research analysts predict that Teledyne Technologies Incorporated will post 21.55 earnings per share for the current fiscal year.

Insider Activity

In related news, COO George C. Bobb III sold 6,308 shares of the stock in a transaction on Friday, January 24th. The stock was sold at an average price of $507.77, for a total transaction of $3,203,013.16. Following the sale, the chief operating officer now directly owns 10,482 shares of the company’s stock, valued at $5,322,445.14. This trade represents a 37.57 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Melanie Susan Cibik sold 706 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $519.96, for a total value of $367,091.76. Following the sale, the executive vice president now directly owns 26,529 shares in the company, valued at $13,794,018.84. This trade represents a 2.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 34,571 shares of company stock worth $17,709,721 over the last three months. 2.14% of the stock is currently owned by corporate insiders.

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.