MML Investors Services LLC Sells 403 Shares of Teledyne Technologies Incorporated (NYSE:TDY)

MML Investors Services LLC cut its stake in shares of Teledyne Technologies Incorporated (NYSE:TDY) by 11.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,181 shares of the scientific and technical instruments company’s stock after selling 403 shares during the quarter. MML Investors Services LLC’s holdings in Teledyne Technologies were worth $1,392,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Verition Fund Management LLC increased its holdings in shares of Teledyne Technologies by 240.5% during the third quarter. Verition Fund Management LLC now owns 36,524 shares of the scientific and technical instruments company’s stock valued at $15,985,000 after acquiring an additional 25,796 shares in the last quarter. National Bank of Canada FI boosted its position in shares of Teledyne Technologies by 217.5% during the third quarter. National Bank of Canada FI now owns 53,819 shares of the scientific and technical instruments company’s stock valued at $23,554,000 after buying an additional 36,867 shares during the last quarter. Polar Asset Management Partners Inc. purchased a new stake in shares of Teledyne Technologies during the third quarter valued at $5,208,000. Royal London Asset Management Ltd. boosted its position in shares of Teledyne Technologies by 11.7% during the second quarter. Royal London Asset Management Ltd. now owns 20,498 shares of the scientific and technical instruments company’s stock valued at $7,953,000 after buying an additional 2,152 shares during the last quarter. Finally, Bank of Montreal Can boosted its position in shares of Teledyne Technologies by 14.2% during the second quarter. Bank of Montreal Can now owns 38,115 shares of the scientific and technical instruments company’s stock valued at $14,922,000 after buying an additional 4,731 shares during the last quarter. 91.58% of the stock is currently owned by institutional investors.

Teledyne Technologies Stock Down 2.6 %

TDY stock opened at $458.44 on Thursday. Teledyne Technologies Incorporated has a twelve month low of $355.41 and a twelve month high of $492.00. The company has a quick ratio of 1.35, a current ratio of 2.00 and a debt-to-equity ratio of 0.28. The stock has a market cap of $21.36 billion, a P/E ratio of 23.18, a PEG ratio of 3.30 and a beta of 1.01. The business’s 50-day moving average price is $469.43 and its 200-day moving average price is $431.54.

Teledyne Technologies (NYSE:TDY) last posted its quarterly earnings data on Wednesday, October 23rd. The scientific and technical instruments company reported $5.10 earnings per share for the quarter, beating analysts’ consensus estimates of $4.97 by $0.13. Teledyne Technologies had a return on equity of 10.02% and a net margin of 16.88%. The firm had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.42 billion. During the same period in the previous year, the firm earned $5.05 EPS. The business’s quarterly revenue was up 2.9% on a year-over-year basis. On average, equities research analysts forecast that Teledyne Technologies Incorporated will post 19.45 EPS for the current year.

Insider Activity at Teledyne Technologies

In related news, Chairman Robert Mehrabian sold 3,925 shares of Teledyne Technologies stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $490.50, for a total transaction of $1,925,212.50. Following the sale, the chairman now owns 171,802 shares of the company’s stock, valued at approximately $84,268,881. This trade represents a 2.23 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Michael T. Smith sold 2,025 shares of Teledyne Technologies stock in a transaction that occurred on 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 sale, the director now directly owns 54,935 shares in the company, valued at approximately $26,272,663.75. The trade was a 3.56 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 52,025 shares of company stock valued at $25,347,399. 2.14% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms recently commented on TDY. UBS Group began coverage on Teledyne Technologies in a research report on Tuesday, December 10th. They set a “buy” rating and a $585.00 price objective on the stock. 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 report on Monday, November 11th. StockNews.com raised Teledyne Technologies from a “hold” rating to a “buy” rating in a research report on Wednesday, October 2nd. Bank of America raised Teledyne Technologies from a “neutral” rating to a “buy” rating and raised their target price for the stock from $450.00 to $550.00 in a research report on Friday, November 8th. Finally, TD Cowen raised their target price on Teledyne Technologies from $450.00 to $500.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of $531.00.

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.