Teledyne Technologies Incorporated (NYSE:TDY) Shares Sold by Congress Wealth Management LLC DE

Congress Wealth Management LLC DE reduced its position in shares of Teledyne Technologies Incorporated (NYSE:TDY) by 16.8% during the fourth quarter, Holdings Channel.com reports. The fund owned 28,956 shares of the scientific and technical instruments company’s stock after selling 5,866 shares during the quarter. Congress Wealth Management LLC DE’s holdings in Teledyne Technologies were worth $13,440,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Amundi grew its stake in shares of Teledyne Technologies by 11.9% in the 4th quarter. Amundi now owns 124,874 shares of the scientific and technical instruments company’s stock worth $57,687,000 after purchasing an additional 13,244 shares during the last quarter. Covea Finance grew its position in Teledyne Technologies by 25.1% in the fourth quarter. Covea Finance now owns 21,400 shares of the scientific and technical instruments company’s stock worth $9,932,000 after buying an additional 4,300 shares during the last quarter. ING Groep NV increased its holdings in shares of Teledyne Technologies by 144.9% in the fourth quarter. ING Groep NV now owns 5,952 shares of the scientific and technical instruments company’s stock valued at $2,763,000 after buying an additional 3,522 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of 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 acquiring an additional 64,617 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in shares of Teledyne Technologies by 10.9% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 6,515 shares of the scientific and technical instruments company’s stock worth $3,024,000 after acquiring an additional 640 shares in the last quarter. 91.58% of the stock is currently owned by institutional investors.

Teledyne Technologies Stock Up 1.2 %

NYSE:TDY opened at $507.63 on Tuesday. Teledyne Technologies Incorporated has a 1-year low of $355.41 and a 1-year high of $522.50. The firm has a market capitalization of $23.78 billion, a price-to-earnings ratio of 29.46, a PEG ratio of 3.14 and a beta of 1.03. The company has a current ratio of 2.33, a quick ratio of 1.61 and a debt-to-equity ratio of 0.28. The business’s fifty day moving average price is $498.18 and its 200 day moving average price is $472.92.

Teledyne Technologies (NYSE:TDY) last posted its quarterly earnings results 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. Teledyne Technologies had a net margin of 14.45% and a return on equity of 9.94%. The business had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.45 billion. During the same period in the prior year, the firm earned $5.44 earnings per share. The firm’s revenue was up 5.4% compared to the same quarter last year. On average, sell-side analysts forecast that Teledyne Technologies Incorporated will post 21.55 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Needham & Company LLC reaffirmed a “buy” rating and set a $585.00 target price on shares of Teledyne Technologies in a research report on Wednesday, February 5th. UBS Group started coverage on shares of Teledyne Technologies in a research note on Tuesday, December 10th. They set a “buy” rating and a $585.00 price objective for the company. Finally, Bank of America lifted their target price on shares of Teledyne Technologies from $550.00 to $600.00 and gave the stock a “buy” rating in a research report on Monday, March 17th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $548.00.

Insider Buying and Selling at Teledyne Technologies

In related news, VP Cynthia Y. Belak sold 5,745 shares of the stock in a transaction on Friday, January 24th. The stock was sold at an average price of $508.34, for a total transaction of $2,920,413.30. Following the completion of the sale, the vice president now directly owns 4,962 shares in the company, valued at approximately $2,522,383.08. This trade represents a 53.66 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Robert Mehrabian sold 5,768 shares of the business’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $518.22, for a total value of $2,989,092.96. Following the completion of the transaction, the chairman now owns 144,553 shares in the company, 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. Insiders sold 34,571 shares of company stock valued at $17,709,721 in the last quarter. Company insiders own 2.14% of the company’s stock.

About Teledyne Technologies

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.