Hartford Investment Management Co. Trims Holdings in Teledyne Technologies Incorporated (NYSE:TDY)

Hartford Investment Management Co. trimmed its position in Teledyne Technologies Incorporated (NYSE:TDY) by 2.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,870 shares of the scientific and technical instruments company’s stock after selling 76 shares during the period. Hartford Investment Management Co.’s holdings in Teledyne Technologies were worth $1,332,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wolff Wiese Magana LLC purchased a new position in Teledyne Technologies in the 3rd quarter valued at about $27,000. Brooklyn Investment Group acquired a new position in shares of Teledyne Technologies during the 3rd quarter valued at about $32,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Teledyne Technologies during the 3rd quarter valued at about $39,000. Newbridge Financial Services Group Inc. acquired a new position in shares of Teledyne Technologies during the 4th quarter valued at about $46,000. Finally, Exchange Traded Concepts LLC increased its stake in shares of Teledyne Technologies by 432.0% during the 3rd quarter. Exchange Traded Concepts LLC now owns 133 shares of the scientific and technical instruments company’s stock valued at $58,000 after acquiring an additional 108 shares during the last quarter. 91.58% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. UBS Group assumed coverage on shares of Teledyne Technologies in a research note on Tuesday, December 10th. They set a “buy” rating and a $585.00 price objective for the company. Needham & Company LLC reaffirmed a “buy” rating and set a $585.00 price objective 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 increased their target price for the stock from $450.00 to $550.00 in a research report on Friday, November 8th. Finally, TD Cowen increased their target price on shares of Teledyne Technologies from $450.00 to $500.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Six research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $538.00.

Teledyne Technologies Stock Down 1.9 %

Shares of NYSE:TDY opened at $489.74 on Friday. The company has a quick ratio of 1.61, a current ratio of 2.33 and a debt-to-equity ratio of 0.28. Teledyne Technologies Incorporated has a 52-week low of $355.41 and a 52-week high of $522.50. The company has a 50 day moving average of $482.68 and a two-hundred day moving average of $457.55. The company has a market capitalization of $22.82 billion, a price-to-earnings ratio of 28.42, a price-to-earnings-growth ratio of 3.19 and a beta of 1.03.

Teledyne Technologies (NYSE:TDY) last issued its quarterly earnings data on Wednesday, January 22nd. The scientific and technical instruments company reported $5.52 earnings per share (EPS) for the quarter, beating the consensus estimate 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 quarter last year, the company earned $5.44 earnings per share. Teledyne Technologies’s revenue for the quarter was up 5.4% on a year-over-year basis. As a group, analysts forecast that Teledyne Technologies Incorporated will post 21.59 earnings per share for the current fiscal year.

Insider Buying and Selling at Teledyne Technologies

In other Teledyne Technologies news, Director Michael T. Smith sold 2,025 shares of the stock in a transaction that occurred on Thursday, December 12th. The shares were 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 owns 54,935 shares of the company’s stock, valued at $26,272,663.75. This trade represents a 3.56 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO George C. Bobb III sold 6,308 shares of the stock in a transaction that occurred on Friday, January 24th. The shares were 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 owns 10,482 shares of the company’s stock, valued at approximately $5,322,445.14. This trade represents a 37.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 32,190 shares of company stock valued at $16,386,864 over the last 90 days. 2.14% of the stock is owned by corporate insiders.

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.