Teledyne Technologies Incorporated (NYSE:TDY) Shares Sold by Covestor Ltd

Covestor Ltd cut its holdings in shares of Teledyne Technologies Incorporated (NYSE:TDY) by 34.7% during the fourth quarter, HoldingsChannel.com reports. The fund owned 111 shares of the scientific and technical instruments company’s stock after selling 59 shares during the period. Covestor Ltd’s holdings in Teledyne Technologies were worth $52,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of Teledyne Technologies by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 5,612,484 shares of the scientific and technical instruments company’s stock valued at $2,604,922,000 after purchasing an additional 46,479 shares during the last quarter. JPMorgan Chase & Co. raised its holdings 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 during the period. Norges Bank acquired a new position in shares of Teledyne Technologies during the 4th quarter valued at about $306,042,000. Invesco Ltd. grew its holdings in shares of Teledyne Technologies by 4.6% in the fourth quarter. Invesco Ltd. now owns 626,522 shares of the scientific and technical instruments company’s stock valued at $290,788,000 after purchasing an additional 27,454 shares during the period. Finally, Sei Investments Co. increased its position in Teledyne Technologies by 5.3% during the fourth quarter. Sei Investments Co. now owns 383,113 shares of the scientific and technical instruments company’s stock worth $177,814,000 after purchasing an additional 19,421 shares during the last quarter. Institutional investors and hedge funds own 91.58% of the company’s stock.

Teledyne Technologies Stock Performance

NYSE:TDY opened at $467.29 on Tuesday. Teledyne Technologies Incorporated has a fifty-two week low of $355.41 and a fifty-two week high of $522.50. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.61 and a current ratio of 2.33. The company has a 50 day moving average price of $490.03 and a 200 day moving average price of $477.88. The stock has a market capitalization of $21.89 billion, a P/E ratio of 27.12, a PEG ratio of 3.14 and a beta of 1.03.

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 the consensus estimate of $5.23 by $0.29. The business had revenue of $1.50 billion during 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%. The company’s quarterly revenue was up 5.4% on a year-over-year basis. During the same period last year, the business posted $5.44 earnings per share. Equities research analysts forecast that Teledyne Technologies Incorporated will post 21.55 EPS for the current year.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Bank of America increased their price target on shares of Teledyne Technologies from $550.00 to $600.00 and gave the company a “buy” rating in a research note on Monday, March 17th. StockNews.com lowered Teledyne Technologies from a “buy” rating to a “hold” rating in a research report on Wednesday, April 2nd. Finally, Needham & Company LLC restated a “buy” rating and issued a $585.00 target price on shares of Teledyne Technologies in a research report on Wednesday, February 5th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Teledyne Technologies currently has an average rating of “Moderate Buy” and a consensus price target of $548.00.

Insiders Place Their Bets

In related news, VP Cynthia Y. Belak sold 5,745 shares of the company’s stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $508.34, for a total transaction of $2,920,413.30. Following the sale, the vice president now directly owns 4,962 shares of the company’s stock, valued at $2,522,383.08. This represents a 53.66 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Vice Chairman Jason Vanwees sold 3,700 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $520.06, for a total transaction of $1,924,222.00. Following the completion of the transaction, the insider now directly owns 51,324 shares of the company’s stock, valued at $26,691,559.44. This represents a 6.72 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 34,571 shares of company stock worth $17,709,721 over the last three months. Company insiders own 1.50% 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.