Teledyne Technologies Incorporated (NYSE:TDY) Shares Sold by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC lessened its holdings in shares of Teledyne Technologies Incorporated (NYSE:TDY) by 36.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,532 shares of the scientific and technical instruments company’s stock after selling 4,971 shares during the period. Commonwealth Equity Services LLC’s holdings in Teledyne Technologies were worth $3,960,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Brooklyn Investment Group acquired a new position in Teledyne Technologies during the 3rd quarter worth $32,000. Wilmington Savings Fund Society FSB acquired a new stake in Teledyne Technologies in the third quarter worth about $39,000. Newbridge Financial Services Group Inc. acquired a new stake in Teledyne Technologies in the fourth quarter worth about $46,000. Tortoise Investment Management LLC grew its position in Teledyne Technologies by 63.2% in the 4th quarter. Tortoise Investment Management LLC now owns 124 shares of the scientific and technical instruments company’s stock valued at $58,000 after buying an additional 48 shares in the last quarter. Finally, Private Trust Co. NA increased its stake in Teledyne Technologies by 43.0% during the 4th quarter. Private Trust Co. NA now owns 173 shares of the scientific and technical instruments company’s stock valued at $80,000 after buying an additional 52 shares during the period. 91.58% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $585.00 price objective on shares of Teledyne Technologies in a report on Wednesday, February 5th. Bank of America lifted their price target on Teledyne Technologies from $550.00 to $600.00 and gave the company a “buy” rating in a research report on Monday, March 17th. Finally, UBS Group started coverage on Teledyne Technologies in a research note on Tuesday, December 10th. They issued a “buy” rating and a $585.00 price objective on the stock. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, Teledyne Technologies has an average rating of “Buy” and a consensus target price of $548.00.

Insiders Place Their Bets

In other Teledyne Technologies news, COO George C. Bobb III sold 6,308 shares of the business’s stock in a transaction dated 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 owns 10,482 shares in the company, valued at approximately $5,322,445.14. The trade was a 37.57 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Cynthia Y. Belak sold 5,745 shares of the business’s stock in a transaction dated 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 approximately $2,522,383.08. The trade was a 53.66 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 34,571 shares of company stock worth $17,709,721. Company insiders own 2.14% of the company’s stock.

Teledyne Technologies Price Performance

Shares of NYSE TDY opened at $502.73 on Monday. Teledyne Technologies Incorporated has a twelve month low of $355.41 and a twelve 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 company has a market capitalization of $23.55 billion, a price-to-earnings ratio of 29.18, a PEG ratio of 3.14 and a beta of 1.03. The firm has a 50-day moving average of $497.26 and a two-hundred day moving average of $472.38.

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 analysts’ consensus estimates of $5.23 by $0.29. Teledyne Technologies had a net margin of 14.45% and a return on equity of 9.94%. The company had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.45 billion. During the same period in the prior year, the company earned $5.44 EPS. Teledyne Technologies’s revenue was up 5.4% on a year-over-year basis. As a group, analysts expect that Teledyne Technologies Incorporated will post 21.55 earnings per share for the current fiscal 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.