Teledyne Technologies Incorporated (NYSE:TDY) Shares Sold by Blue Barn Wealth LLC

Blue Barn Wealth LLC lowered its position in shares of Teledyne Technologies Incorporated (NYSE:TDY) by 3.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 662 shares of the scientific and technical instruments company’s stock after selling 23 shares during the period. Blue Barn Wealth LLC’s holdings in Teledyne Technologies were worth $307,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of TDY. State Street Corp lifted its holdings in Teledyne Technologies by 1.9% during the 3rd 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 last quarter. Janus Henderson Group PLC lifted its stake in shares of Teledyne Technologies by 0.6% in the third 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 boosted its stake in shares of 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 worth $520,335,000 after acquiring an additional 28,224 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Teledyne Technologies by 6.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,150,065 shares of the scientific and technical instruments company’s stock worth $503,338,000 after buying an additional 64,617 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its position in shares of Teledyne Technologies by 10.5% in the fourth 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 last quarter. 91.58% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Teledyne Technologies news, Director Michael T. Smith sold 2,025 shares of the 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 owns 54,935 shares of the company’s stock, valued at approximately $26,272,663.75. This represents a 3.56 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman Robert Mehrabian sold 5,768 shares of the business’s 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 transaction, the chairman now directly owns 144,553 shares of the company’s stock, valued at $74,910,255.66. This trade represents a 3.84 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 36,596 shares of company stock worth $18,678,177. 2.14% of the stock is currently owned by corporate insiders.

Teledyne Technologies Stock Performance

Shares of NYSE TDY opened at $497.38 on Thursday. The stock’s fifty day simple moving average is $490.40 and its 200 day simple moving average is $466.36. Teledyne Technologies Incorporated has a 52-week low of $355.41 and a 52-week high of $522.50. The company has a quick ratio of 1.61, a current ratio of 2.33 and a debt-to-equity ratio of 0.28. The stock has a market capitalization of $23.29 billion, a price-to-earnings ratio of 28.87, a PEG ratio of 3.14 and a beta of 1.03.

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

Analysts Set New Price Targets

Several analysts have commented on TDY shares. UBS Group assumed coverage on Teledyne Technologies in a report on Tuesday, December 10th. They issued a “buy” rating and a $585.00 price target for the company. Needham & Company LLC restated a “buy” rating and issued a $585.00 price target on shares of Teledyne Technologies in a report on Wednesday, February 5th. Finally, Bank of America upgraded Teledyne Technologies from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $450.00 to $550.00 in a report on Friday, November 8th. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently 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.