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

Hartford Investment Management Co. cut its position in shares of Teledyne Technologies Incorporated (NYSE:TDY) by 2.6% during the 4th quarter, HoldingsChannel.com reports. The firm 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 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in TDY. Wolff Wiese Magana LLC bought a new position in Teledyne Technologies during the third quarter worth $27,000. Brooklyn Investment Group bought a new position in Teledyne Technologies during the third quarter worth $32,000. Wilmington Savings Fund Society FSB bought a new position in Teledyne Technologies during the third quarter worth $39,000. Newbridge Financial Services Group Inc. bought a new position in Teledyne Technologies during the fourth quarter worth $46,000. Finally, Exchange Traded Concepts LLC lifted its stake in Teledyne Technologies by 432.0% during the third quarter. Exchange Traded Concepts LLC now owns 133 shares of the scientific and technical instruments company’s stock worth $58,000 after purchasing an additional 108 shares during the last quarter. 91.58% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

TDY has been the topic of several research analyst reports. UBS Group initiated coverage on Teledyne Technologies in a research note on Tuesday, December 10th. They set a “buy” rating and a $585.00 price objective on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $585.00 target price on shares of Teledyne Technologies in a research note on Wednesday, February 5th. Bank of America upgraded Teledyne Technologies from a “neutral” rating to a “buy” rating and raised their target price for the company from $450.00 to $550.00 in a research note on Friday, November 8th. Finally, TD Cowen raised their target price on Teledyne Technologies from $450.00 to $500.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Teledyne Technologies currently has a consensus rating of “Buy” and an average price target of $538.00.

Insider Activity

In related news, Chairman Robert Mehrabian sold 5,007 shares of Teledyne Technologies stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $510.33, for a total transaction of $2,555,222.31. Following the transaction, the chairman now directly owns 144,553 shares of the company’s stock, valued at $73,769,732.49. The trade was a 3.35 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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 value of $968,456.25. Following the transaction, the director now directly owns 54,935 shares in the company, valued at approximately $26,272,663.75. The trade was a 3.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 32,190 shares of company stock valued at $16,386,864. Company insiders own 2.14% of the company’s stock.

Teledyne Technologies Price Performance

Shares of TDY opened at $489.74 on Friday. The firm 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. 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 one year low of $355.41 and a one year high of $522.50. The stock’s fifty day moving average is $482.68 and its 200-day moving average is $457.55.

Teledyne Technologies (NYSE:TDY) last issued its quarterly earnings results on Wednesday, January 22nd. The scientific and technical instruments company reported $5.52 EPS for the quarter, beating analysts’ consensus estimates of $5.23 by $0.29. The company had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.45 billion. Teledyne Technologies had a return on equity of 9.94% and a net margin of 14.45%. The company’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same period last year, the company earned $5.44 earnings per share. Equities analysts anticipate that Teledyne Technologies Incorporated will post 21.59 EPS for the current year.

Teledyne Technologies 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.