Congress Wealth Management LLC DE Trims Stock Holdings in Teledyne Technologies Incorporated (NYSE:TDY)

Congress Wealth Management LLC DE cut its holdings in shares of Teledyne Technologies Incorporated (NYSE:TDY) by 16.8% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 28,956 shares of the scientific and technical instruments company’s stock after selling 5,866 shares during the quarter. Congress Wealth Management LLC DE owned approximately 0.06% of Teledyne Technologies worth $13,440,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in shares of Teledyne Technologies by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 5,612,484 shares of the scientific and technical instruments company’s stock worth $2,604,922,000 after buying an additional 46,479 shares during the last quarter. LPL Financial LLC increased its position in shares of Teledyne Technologies by 8.5% in the 4th quarter. LPL Financial LLC now owns 28,366 shares of the scientific and technical instruments company’s stock worth $13,166,000 after purchasing an additional 2,224 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new stake in shares of Teledyne Technologies in the 4th quarter valued at about $11,529,000. Sei Investments Co. lifted its position in shares of Teledyne Technologies by 5.3% during the fourth quarter. Sei Investments Co. now owns 383,113 shares of the scientific and technical instruments company’s stock worth $177,814,000 after purchasing an additional 19,421 shares during the last quarter. Finally, American Century Companies Inc. grew its stake in Teledyne Technologies by 1.0% in the fourth quarter. American Century Companies Inc. now owns 3,195 shares of the scientific and technical instruments company’s stock worth $1,483,000 after purchasing an additional 32 shares in the last quarter. 91.58% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Vice Chairman Jason Vanwees sold 3,700 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $520.06, for a total value of $1,924,222.00. Following the completion of the transaction, the insider now owns 51,324 shares in the company, valued at $26,691,559.44. This represents a 6.72 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Chairman Robert Mehrabian sold 5,768 shares of the business’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $518.22, for a total transaction of $2,989,092.96. Following the sale, the chairman now owns 144,553 shares in the company, valued at $74,910,255.66. This trade represents a 3.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 34,571 shares of company stock valued at $17,709,721 in the last three months. 2.14% of the stock is currently owned by corporate insiders.

Teledyne Technologies Stock Performance

TDY stock opened at $507.63 on Tuesday. The stock’s fifty day moving average is $498.18 and its two-hundred day moving average is $472.92. The stock has a market capitalization of $23.78 billion, a price-to-earnings ratio of 29.46, a PEG ratio of 3.14 and a beta of 1.03. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.61 and a current ratio of 2.33. Teledyne Technologies Incorporated has a 1 year low of $355.41 and a 1 year high of $522.50.

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 (EPS) 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 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 business posted $5.44 EPS. Teledyne Technologies’s revenue was up 5.4% on a year-over-year basis. On average, research analysts predict that Teledyne Technologies Incorporated will post 21.55 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Bank of America increased their target price on Teledyne Technologies from $550.00 to $600.00 and gave the stock a “buy” rating in a report on Monday, March 17th. Needham & Company LLC restated a “buy” rating and set a $585.00 price objective on shares of Teledyne Technologies in a research note on Wednesday, February 5th. Finally, UBS Group initiated coverage on shares of Teledyne Technologies in a research note on Tuesday, December 10th. They set a “buy” rating and a $585.00 target price for the company. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Teledyne Technologies currently has an average rating of “Buy” and an average price target of $548.00.

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.