Envestnet Portfolio Solutions Inc. Sells 360 Shares of Teledyne Technologies Incorporated (NYSE:TDY)

Envestnet Portfolio Solutions Inc. decreased its position in Teledyne Technologies Incorporated (NYSE:TDY) by 2.8% during the 4th quarter, Holdings Channel.com reports. The fund owned 12,520 shares of the scientific and technical instruments company’s stock after selling 360 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Teledyne Technologies were worth $5,811,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in TDY. Madison Investment Advisors LLC bought a new position in Teledyne Technologies in the fourth quarter valued at about $94,721,000. Raymond James Financial Inc. bought a new position in Teledyne Technologies in the fourth quarter valued at about $53,304,000. JPMorgan Chase & Co. boosted its holdings in Teledyne Technologies by 6.0% in the third 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. Diamond Hill Capital Management Inc. acquired a new position in Teledyne Technologies in the fourth quarter valued at about $29,348,000. Finally, Proficio Capital Partners LLC acquired a new position in Teledyne Technologies in the fourth quarter valued at about $29,081,000. Institutional investors own 91.58% of the company’s stock.

Teledyne Technologies Trading Up 0.3 %

NYSE TDY opened at $498.69 on Wednesday. The firm has a market cap of $23.36 billion, a P/E ratio of 28.94, a P/E/G ratio of 3.14 and a beta of 1.03. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.33 and a quick ratio of 1.61. The stock’s 50-day moving average is $494.82 and its 200-day moving average is $470.83. Teledyne Technologies Incorporated has a one year low of $355.41 and a one year high of $522.50.

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

Analyst Ratings Changes

Several equities analysts have weighed in on the company. UBS Group assumed coverage on Teledyne Technologies in a research note on Tuesday, December 10th. They issued a “buy” rating and a $585.00 target price on the stock. Bank of America increased their target price on Teledyne Technologies from $550.00 to $600.00 and gave the company a “buy” rating in a research note on Monday. Finally, Needham & Company LLC reissued a “buy” rating and issued a $585.00 target price on shares of Teledyne Technologies in a research note on Wednesday, February 5th. Six analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $548.00.

Insider Transactions at Teledyne Technologies

In related news, EVP Melanie Susan Cibik sold 706 shares of the stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $519.96, for a total transaction 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 trade represents a 2.59 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Robert Mehrabian sold 5,768 shares of the stock in a transaction dated 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 transaction, the chairman now owns 144,553 shares of the company’s stock, valued at approximately $74,910,255.66. The trade was a 3.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 34,571 shares of company stock valued at $17,709,721 over the last 90 days. 2.14% of the stock is 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.