Teledyne Technologies Incorporated (NYSE:TDY) Shares Sold by Flagship Harbor Advisors LLC

Flagship Harbor Advisors LLC reduced its holdings in Teledyne Technologies Incorporated (NYSE:TDY) by 9.4% during the 4th quarter, Holdings Channel reports. The fund owned 767 shares of the scientific and technical instruments company’s stock after selling 80 shares during the quarter. Flagship Harbor Advisors LLC’s holdings in Teledyne Technologies were worth $356,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC boosted its holdings in shares of Teledyne Technologies by 44,457.2% in the third quarter. International Assets Investment Management LLC now owns 73,965 shares of the scientific and technical instruments company’s stock valued at $32,372,000 after acquiring an additional 73,799 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Teledyne Technologies by 6.0% in 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 buying an additional 64,617 shares in the last quarter. Millennium Management LLC lifted its holdings in shares of Teledyne Technologies by 88.4% in the second quarter. Millennium Management LLC now owns 127,752 shares of the scientific and technical instruments company’s stock valued at $49,565,000 after buying an additional 59,942 shares during the period. State Street Corp boosted its stake in Teledyne Technologies by 1.9% during 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 in the last quarter. Finally, National Bank of Canada FI raised its position in Teledyne Technologies by 217.5% in the third quarter. National Bank of Canada FI now owns 53,819 shares of the scientific and technical instruments company’s stock worth $23,554,000 after acquiring an additional 36,867 shares in the last quarter. 91.58% of the stock is currently owned by institutional investors and hedge funds.

Teledyne Technologies Stock Up 0.1 %

Shares of NYSE:TDY opened at $509.22 on Wednesday. The firm has a 50 day simple moving average of $475.48 and a 200 day simple moving average of $449.37. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.35 and a current ratio of 2.33. Teledyne Technologies Incorporated has a 52 week low of $355.41 and a 52 week high of $518.85. The company has a market cap of $23.73 billion, a PE ratio of 29.55, a price-to-earnings-growth ratio of 3.24 and a beta of 1.01.

Teledyne Technologies (NYSE:TDY) last issued its earnings results on Wednesday, January 22nd. The scientific and technical instruments company reported $5.52 EPS for the quarter, topping the consensus estimate of $5.23 by $0.29. The business had revenue of $1.50 billion during the quarter, compared to analysts’ expectations 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. As a group, research analysts expect that Teledyne Technologies Incorporated will post 21.3 earnings per share for the current year.

Insider Activity

In other news, Chairman Robert Mehrabian sold 46,075 shares of the business’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $487.33, for a total transaction of $22,453,729.75. Following the transaction, the chairman now directly owns 171,802 shares in the company, valued at $83,724,268.66. The trade was a 21.15 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Michael T. Smith sold 2,025 shares of the stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $478.25, for a total value of $968,456.25. Following the sale, the director now owns 54,935 shares of the company’s stock, valued at approximately $26,272,663.75. This represents a 3.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 68,116 shares of company stock worth $33,505,935 in the last 90 days. Company insiders own 2.14% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. TD Cowen lifted their price objective on shares of Teledyne Technologies from $450.00 to $500.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Needham & Company LLC raised their target price on shares of Teledyne Technologies from $528.00 to $550.00 and gave the stock a “buy” rating in a report on Monday, November 11th. StockNews.com upgraded shares of Teledyne Technologies from a “hold” rating to a “buy” rating in a research report on Wednesday, October 2nd. UBS Group started coverage on Teledyne Technologies in a research report on Tuesday, December 10th. They set a “buy” rating and a $585.00 price objective for the company. Finally, Bank of America upgraded Teledyne Technologies from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $450.00 to $550.00 in a report on Friday, November 8th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of “Buy” and an average price target of $531.00.

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.