AGF Management Ltd. Lowers Stake in Teledyne Technologies Incorporated (NYSE:TDY)

AGF Management Ltd. trimmed its holdings in Teledyne Technologies Incorporated (NYSE:TDY) by 30.3% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 5,272 shares of the scientific and technical instruments company’s stock after selling 2,292 shares during the period. AGF Management Ltd.’s holdings in Teledyne Technologies were worth $2,447,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in TDY. Net Worth Advisory Group lifted its position in Teledyne Technologies by 1.5% during the 4th quarter. Net Worth Advisory Group now owns 1,802 shares of the scientific and technical instruments company’s stock worth $836,000 after acquiring an additional 27 shares during the period. Tortoise Investment Management LLC raised its stake in shares of Teledyne Technologies by 63.2% during the fourth quarter. Tortoise Investment Management LLC now owns 124 shares of the scientific and technical instruments company’s stock worth $58,000 after purchasing an additional 48 shares during the last quarter. Independent Advisor Alliance acquired a new stake in shares of Teledyne Technologies during the fourth quarter worth $251,000. Daiwa Securities Group Inc. grew its position in Teledyne Technologies by 5.0% in the 4th quarter. Daiwa Securities Group Inc. now owns 8,223 shares of the scientific and technical instruments company’s stock valued at $3,817,000 after buying an additional 390 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Teledyne Technologies by 6.2% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,362 shares of the scientific and technical instruments company’s stock valued at $4,809,000 after buying an additional 608 shares during the period. Institutional investors and hedge funds own 91.58% of the company’s stock.

Teledyne Technologies Stock Down 1.1 %

Shares of NYSE TDY opened at $480.16 on Friday. The stock has a market capitalization of $22.49 billion, a price-to-earnings ratio of 27.87, a price-to-earnings-growth ratio of 3.14 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 firm has a 50-day moving average price of $492.55 and a 200 day moving average price of $468.77. 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 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, beating analysts’ consensus estimates of $5.23 by $0.29. The company had revenue of $1.50 billion during the quarter, compared to the consensus estimate 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 period last year, the firm earned $5.44 EPS. Equities research analysts anticipate that Teledyne Technologies Incorporated will post 21.55 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently commented on TDY. Needham & Company LLC restated a “buy” rating and issued a $585.00 target price on shares of Teledyne Technologies in a research note on Wednesday, February 5th. UBS Group started coverage on Teledyne Technologies in a report on Tuesday, December 10th. They issued a “buy” rating and a $585.00 price objective on the stock. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $538.00.

Insider Buying and Selling at Teledyne Technologies

In related news, Chairman Robert Mehrabian sold 5,768 shares of the company’s stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $518.22, for a total value of $2,989,092.96. Following the sale, the chairman now owns 144,553 shares of the company’s stock, valued at approximately $74,910,255.66. This represents a 3.84 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Melanie Susan Cibik sold 706 shares of the 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 sale, the executive vice president now owns 26,529 shares in the company, valued at approximately $13,794,018.84. This trade represents a 2.59 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 34,571 shares of company stock valued at $17,709,721. Insiders own 2.14% of the company’s stock.

Teledyne Technologies Company 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.