Teledyne Technologies Incorporated (NYSE:TDY) Shares Sold by Franklin Resources Inc.

Franklin Resources Inc. decreased its position in shares of Teledyne Technologies Incorporated (NYSE:TDY) by 15.5% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,573 shares of the scientific and technical instruments company’s stock after selling 472 shares during the quarter. Franklin Resources Inc.’s holdings in Teledyne Technologies were worth $1,168,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Wolff Wiese Magana LLC acquired a new position in Teledyne Technologies during the third quarter worth approximately $27,000. Innealta Capital LLC purchased a new position in shares of Teledyne Technologies during the second quarter worth approximately $28,000. Tortoise Investment Management LLC increased its holdings in shares of Teledyne Technologies by 48.0% in the 2nd quarter. Tortoise Investment Management LLC now owns 74 shares of the scientific and technical instruments company’s stock valued at $29,000 after acquiring an additional 24 shares during the period. Brooklyn Investment Group acquired a new stake in Teledyne Technologies during the 3rd quarter worth $32,000. Finally, Wilmington Savings Fund Society FSB purchased a new position in Teledyne Technologies during the 3rd quarter worth $39,000. 91.58% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Chairman Robert Mehrabian sold 46,075 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $487.33, for a total value of $22,453,729.75. Following the sale, the chairman now directly owns 171,802 shares of the company’s stock, valued at approximately $83,724,268.66. This represents a 21.15 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Michael T. Smith sold 2,025 shares of Teledyne Technologies stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $478.25, for a total transaction of $968,456.25. Following the transaction, the director now owns 54,935 shares of the company’s stock, 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. Insiders have sold a total of 53,525 shares of company stock worth $26,080,464 in the last quarter. Company insiders own 2.14% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on TDY shares. Bank of America raised shares of Teledyne Technologies from a “neutral” rating to a “buy” rating and upped their target price for the company from $450.00 to $550.00 in a report on Friday, November 8th. Needham & Company LLC increased their price objective on Teledyne Technologies from $528.00 to $550.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. TD Cowen boosted their target price on Teledyne Technologies from $450.00 to $500.00 and gave the company a “buy” rating in a report on Thursday, October 24th. StockNews.com raised Teledyne Technologies from a “hold” rating to a “buy” rating in a report on Wednesday, October 2nd. Finally, UBS Group started coverage on shares of 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 investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $531.00.

Teledyne Technologies Trading Down 1.1 %

NYSE:TDY opened at $471.44 on Friday. The stock has a market capitalization of $21.97 billion, a price-to-earnings ratio of 23.83, a PEG ratio of 3.30 and a beta of 1.01. Teledyne Technologies Incorporated has a 1 year low of $355.41 and a 1 year high of $492.00. The stock has a fifty day moving average price of $472.43 and a two-hundred day moving average price of $435.43. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.35 and a current ratio of 2.00.

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