HighTower Advisors LLC Sells 124 Shares of Teledyne Technologies Incorporated (NYSE:TDY)

HighTower Advisors LLC lowered its stake in Teledyne Technologies Incorporated (NYSE:TDY) by 1.6% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,703 shares of the scientific and technical instruments company’s stock after selling 124 shares during the quarter. HighTower Advisors LLC’s holdings in Teledyne Technologies were worth $3,575,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. State Street Corp raised 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 worth $893,219,000 after buying an additional 37,884 shares during the period. Janus Henderson Group PLC raised its stake in Teledyne Technologies by 0.6% during the 3rd quarter. Janus Henderson Group PLC now owns 1,709,475 shares of the scientific and technical instruments company’s stock valued at $748,167,000 after purchasing an additional 9,368 shares during the period. Geode Capital Management LLC raised its stake in Teledyne Technologies by 2.4% during 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 purchasing 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 purchasing an additional 64,617 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its stake in Teledyne Technologies by 10.5% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 318,712 shares of the scientific and technical instruments company’s stock valued at $145,974,000 after purchasing an additional 30,157 shares during the period. Institutional investors own 91.58% of the company’s stock.

Insider Transactions at Teledyne Technologies

In other news, EVP Melanie Susan Cibik sold 706 shares of Teledyne Technologies stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $519.96, for a total value of $367,091.76. Following the completion of the transaction, the executive vice president now owns 26,529 shares in the company, valued at approximately $13,794,018.84. The trade was a 2.59 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO George C. Bobb III sold 6,308 shares of Teledyne Technologies stock in a transaction that occurred on 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 completion of 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 position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 34,571 shares of company stock worth $17,709,721. 2.14% of the stock is currently owned by company insiders.

Teledyne Technologies Stock Performance

NYSE:TDY opened at $499.60 on Friday. 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 1 year low of $355.41 and a 1 year high of $522.50. The stock’s 50 day simple moving average is $496.34 and its two-hundred day simple moving average is $471.23. The company has a market cap of $23.40 billion, a price-to-earnings ratio of 29.00, a PEG ratio of 3.14 and a beta of 1.03.

Teledyne Technologies (NYSE:TDY) last released its quarterly earnings data on Wednesday, January 22nd. The scientific and technical instruments company reported $5.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.23 by $0.29. The business had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.45 billion. Teledyne Technologies had a return on equity of 9.94% and a net margin of 14.45%. The company’s revenue was up 5.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $5.44 EPS. As a group, equities analysts anticipate that Teledyne Technologies Incorporated will post 21.55 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Bank of America lifted their target price on Teledyne Technologies from $550.00 to $600.00 and gave the company a “buy” rating in a research note on Monday. UBS Group assumed coverage on Teledyne Technologies in a research note on Tuesday, December 10th. They set a “buy” rating and a $585.00 target price on the stock. Finally, 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. Six analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $548.00.

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.