Teledyne Technologies Incorporated (NYSE:TDY) Stock Holdings Lowered by Portfolio Design Labs LLC

Portfolio Design Labs LLC cut its position in Teledyne Technologies Incorporated (NYSE:TDY) by 20.4% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,337 shares of the scientific and technical instruments company’s stock after selling 343 shares during the quarter. Portfolio Design Labs LLC’s holdings in Teledyne Technologies were worth $621,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. State Street Corp increased its stake in shares of Teledyne Technologies by 1.9% in the third quarter. State Street Corp now owns 2,040,896 shares of the scientific and technical instruments company’s stock valued at $893,219,000 after purchasing an additional 37,884 shares during the period. Janus Henderson Group PLC grew its holdings in Teledyne Technologies by 0.6% in the 3rd quarter. Janus Henderson Group PLC now owns 1,709,475 shares of the scientific and technical instruments company’s stock worth $748,167,000 after buying an additional 9,368 shares in the last quarter. Geode Capital Management LLC increased its position in Teledyne Technologies by 2.4% in the 3rd quarter. Geode Capital Management LLC now owns 1,192,019 shares of the scientific and technical instruments company’s stock valued at $520,335,000 after acquiring an additional 28,224 shares during the period. JPMorgan Chase & Co. raised its stake in Teledyne Technologies by 6.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,150,065 shares of the scientific and technical instruments company’s stock valued at $503,338,000 after acquiring an additional 64,617 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in Teledyne Technologies by 0.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 291,279 shares of the scientific and technical instruments company’s stock worth $127,481,000 after acquiring an additional 2,206 shares during the period. 91.58% of the stock is owned by institutional investors and hedge funds.

Teledyne Technologies Stock Down 0.5 %

TDY opened at $508.78 on Wednesday. The company has a market capitalization of $23.71 billion, a PE ratio of 29.53, a price-to-earnings-growth ratio of 3.19 and a beta of 1.03. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.33 and a quick ratio of 1.61. Teledyne Technologies Incorporated has a fifty-two week low of $355.41 and a fifty-two week high of $522.50. The business has a 50-day moving average of $481.11 and a 200-day moving average of $456.31.

Teledyne Technologies (NYSE:TDY) last posted its earnings results on Wednesday, January 22nd. The scientific and technical instruments company reported $5.52 earnings per share for the quarter, topping 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 analyst estimates of $1.45 billion. During the same period in the previous year, the company earned $5.44 EPS. The company’s revenue for the quarter was up 5.4% on a year-over-year basis. Equities research analysts forecast that Teledyne Technologies Incorporated will post 21.59 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently commented on TDY. TD Cowen raised their price target on Teledyne Technologies from $450.00 to $500.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Needham & Company LLC reissued a “buy” rating and set a $585.00 target price on shares of Teledyne Technologies in a research note on Wednesday, February 5th. Bank of America raised shares of Teledyne Technologies from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $450.00 to $550.00 in a research note on Friday, November 8th. Finally, UBS Group started coverage on shares of Teledyne Technologies in a report on Tuesday, December 10th. They set a “buy” rating and a $585.00 target price for the company. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $538.00.

Insider Buying and Selling

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 value of $2,920,413.30. Following the transaction, the vice president now directly owns 4,962 shares in the company, valued at approximately $2,522,383.08. The trade was a 53.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 value of $3,203,013.16. Following the transaction, the chief operating officer now directly owns 10,482 shares of the company’s stock, valued at $5,322,445.14. This represents a 37.57 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 32,190 shares of company stock valued at $16,386,864. Company insiders own 2.14% of the company’s stock.

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.