Teledyne Technologies Incorporated (NYSE:TDY) Position Reduced by ARK Investment Management LLC

ARK Investment Management LLC decreased its position in shares of Teledyne Technologies Incorporated (NYSE:TDY) by 2.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,887 shares of the scientific and technical instruments company’s stock after selling 599 shares during the period. ARK Investment Management LLC’s holdings in Teledyne Technologies were worth $13,871,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Brooklyn Investment Group acquired a new position in Teledyne Technologies in the third quarter worth approximately $32,000. Wilmington Savings Fund Society FSB acquired a new position in Teledyne Technologies in the third quarter worth approximately $39,000. Newbridge Financial Services Group Inc. acquired a new position in Teledyne Technologies in the fourth quarter worth approximately $46,000. Allworth Financial LP grew its position in Teledyne Technologies by 15.1% in the fourth quarter. Allworth Financial LP now owns 206 shares of the scientific and technical instruments company’s stock worth $105,000 after buying an additional 27 shares during the last quarter. Finally, Salem Investment Counselors Inc. grew its position in Teledyne Technologies by 85.5% in the fourth quarter. Salem Investment Counselors Inc. now owns 230 shares of the scientific and technical instruments company’s stock worth $107,000 after buying an additional 106 shares during the last quarter. Institutional investors own 91.58% of the company’s stock.

Teledyne Technologies Trading Up 1.0 %

NYSE TDY opened at $500.78 on Wednesday. Teledyne Technologies Incorporated has a twelve month low of $355.41 and a twelve month high of $522.50. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.61 and a current ratio of 2.33. The stock has a market cap of $23.34 billion, a price-to-earnings ratio of 29.06, a PEG ratio of 3.14 and a beta of 1.03. The firm’s 50 day moving average price is $485.63 and its two-hundred day moving average price is $462.22.

Teledyne Technologies (NYSE:TDY) last issued 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. The company had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.45 billion. Teledyne Technologies had a net margin of 14.45% and a return on equity of 9.94%. The company’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same quarter last year, the business posted $5.44 EPS. Equities analysts anticipate that Teledyne Technologies Incorporated will post 21.55 EPS for the current year.

Insider Buying and Selling at Teledyne Technologies

In related news, Director Michael T. Smith sold 2,025 shares of Teledyne Technologies stock in a transaction 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 approximately $26,272,663.75. The trade was a 3.56 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Robert Mehrabian sold 5,768 shares of Teledyne Technologies stock in a transaction on Friday, January 31st. The shares were sold at an average price of $518.22, for a total transaction of $2,989,092.96. Following the completion of the sale, the chairman now directly owns 144,553 shares of the company’s stock, valued at approximately $74,910,255.66. The trade was a 3.84 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 32,190 shares of company stock valued at $16,386,864 in the last quarter. Company insiders own 2.14% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on TDY. UBS Group began coverage on shares of Teledyne Technologies in a research report on Tuesday, December 10th. They issued a “buy” rating and a $585.00 price target on the stock. Bank of America upgraded shares of Teledyne Technologies from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $450.00 to $550.00 in a research report on Friday, November 8th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $585.00 price objective on shares of Teledyne Technologies in a research report on Wednesday, February 5th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $538.00.

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.