Teledyne Technologies Incorporated (NYSE:TDY) Shares Sold by Wealth Alliance

Wealth Alliance lowered its stake in Teledyne Technologies Incorporated (NYSE:TDY) by 2.1% during the fourth quarter, Holdings Channel.com reports. The firm owned 1,755 shares of the scientific and technical instruments company’s stock after selling 37 shares during the quarter. Wealth Alliance’s holdings in Teledyne Technologies were worth $815,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. State Street Corp raised its position in shares of 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 acquiring an additional 37,884 shares in the last quarter. Janus Henderson Group PLC raised its position in shares of Teledyne Technologies by 0.6% during the 3rd 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 acquiring an additional 9,368 shares in the last quarter. Geode Capital Management LLC raised its position 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. raised 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 worth $503,338,000 after acquiring an additional 64,617 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its position in shares of Teledyne Technologies by 10.5% during the 4th 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 acquiring an additional 30,157 shares in the last quarter. Institutional investors and hedge funds own 91.58% of the company’s stock.

Teledyne Technologies Trading Down 0.2 %

TDY opened at $501.19 on Friday. The firm has a market cap of $23.36 billion, a price-to-earnings ratio of 29.09, a price-to-earnings-growth ratio of 3.11 and a beta of 1.03. Teledyne Technologies Incorporated has a 52 week low of $355.41 and a 52 week high of $522.50. The business’s 50 day moving average is $484.90 and its two-hundred day moving average is $460.20. 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 (NYSE:TDY) last announced its earnings results on Wednesday, January 22nd. The scientific and technical instruments company reported $5.52 earnings per share 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 period last year, the business posted $5.44 EPS. The company’s revenue was up 5.4% on a year-over-year basis. On average, research analysts predict that Teledyne Technologies Incorporated will post 21.55 EPS for the current year.

Insider Buying and Selling at Teledyne Technologies

In other Teledyne Technologies news, EVP Melanie Susan Cibik sold 2,538 shares of Teledyne Technologies stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $513.02, for a total value of $1,302,044.76. Following the transaction, the executive vice president now directly owns 32,100 shares in the company, valued at approximately $16,467,942. This trade represents a 7.33 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Michael T. Smith sold 2,025 shares of Teledyne Technologies stock in a transaction that occurred 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 in the company, valued at approximately $26,272,663.75. This trade represents a 3.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 32,190 shares of company stock worth $16,386,864. 2.14% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on TDY shares. UBS Group started coverage on Teledyne Technologies in a research report on Tuesday, December 10th. They set a “buy” rating and a $585.00 target price on the stock. TD Cowen lifted their price target on Teledyne Technologies from $450.00 to $500.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Bank of America raised 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 reaffirmed a “buy” rating and set a $585.00 price target on shares of Teledyne Technologies in a research report on Wednesday, February 5th. Six analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price 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.