Teledyne Technologies Incorporated (NYSE:TDY) Shares Sold by Tredje AP fonden

Tredje AP fonden lessened its position in Teledyne Technologies Incorporated (NYSE:TDY) by 50.0% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 3,669 shares of the scientific and technical instruments company’s stock after selling 3,668 shares during the period. Tredje AP fonden’s holdings in Teledyne Technologies were worth $1,703,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. State Street Corp raised its position 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 valued at $893,219,000 after buying an additional 37,884 shares during the last quarter. Janus Henderson Group PLC increased its position in Teledyne Technologies by 0.6% during the third quarter. Janus Henderson Group PLC now owns 1,709,475 shares of the scientific and technical instruments company’s stock worth $748,167,000 after purchasing an additional 9,368 shares during the last quarter. Geode Capital Management LLC increased its position in Teledyne Technologies by 2.4% during the third 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 purchasing an additional 28,224 shares during the last quarter. JPMorgan Chase & Co. increased its position in Teledyne Technologies by 6.0% during the third quarter. JPMorgan Chase & Co. now owns 1,150,065 shares of the scientific and technical instruments company’s stock worth $503,338,000 after purchasing an additional 64,617 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC increased its position in Teledyne Technologies by 10.5% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 318,712 shares of the scientific and technical instruments company’s stock worth $145,974,000 after purchasing an additional 30,157 shares during the last quarter. Institutional investors and hedge funds own 91.58% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $585.00 price target on shares of Teledyne Technologies in a research report on Wednesday, February 5th. UBS Group assumed coverage on shares of Teledyne Technologies in a research report on Tuesday, December 10th. They set a “buy” rating and a $585.00 price target for the company. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $538.00.

Teledyne Technologies Price Performance

TDY opened at $491.72 on Friday. The company has a quick ratio of 1.61, a current ratio of 2.33 and a debt-to-equity ratio of 0.28. Teledyne Technologies Incorporated has a 52-week low of $355.41 and a 52-week high of $522.50. The company has a 50 day moving average of $493.19 and a two-hundred day moving average of $469.25. The company has a market cap of $23.03 billion, a P/E ratio of 28.54, a P/E/G 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 the consensus estimate of $5.23 by $0.29. Teledyne Technologies had a net margin of 14.45% and a return on equity of 9.94%. The company had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.45 billion. During the same period in the previous year, the firm earned $5.44 earnings per share. Teledyne Technologies’s revenue for the quarter was up 5.4% on a year-over-year basis. On average, analysts expect that Teledyne Technologies Incorporated will post 21.55 earnings per share for the current year.

Insider Activity

In other news, EVP Melanie Susan Cibik sold 706 shares of the company’s stock in a transaction on Monday, March 3rd. The shares were 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 directly owns 26,529 shares in the company, valued at approximately $13,794,018.84. This represents a 2.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO George C. Bobb III sold 6,308 shares of the company’s stock in a transaction on Friday, January 24th. The shares were sold at an average price of $507.77, for a total transaction 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 $5,322,445.14. This trade represents a 37.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, 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 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.