abrdn plc Has $8.73 Million Stock Position in Teledyne Technologies Incorporated (NYSE:TDY)

abrdn plc increased its position in Teledyne Technologies Incorporated (NYSE:TDY) by 70.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 19,570 shares of the scientific and technical instruments company’s stock after purchasing an additional 8,058 shares during the quarter. abrdn plc’s holdings in Teledyne Technologies were worth $8,734,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Bruce G. Allen Investments LLC acquired a new stake in Teledyne Technologies in the fourth quarter worth about $28,000. CVA Family Office LLC bought a new position in Teledyne Technologies during the fourth quarter worth about $31,000. Anchor Investment Management LLC bought a new position in Teledyne Technologies during the fourth quarter worth about $45,000. Cary Street Partners Investment Advisory LLC bought a new position in Teledyne Technologies during the third quarter worth about $44,000. Finally, Householder Group Estate & Retirement Specialist LLC boosted its holdings in Teledyne Technologies by 63.2% during the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 111 shares of the scientific and technical instruments company’s stock worth $49,000 after buying an additional 43 shares during the last quarter. 91.58% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. StockNews.com cut Teledyne Technologies from a “buy” rating to a “hold” rating in a report on Thursday. TD Cowen reduced their target price on Teledyne Technologies from $475.00 to $450.00 and set a “buy” rating on the stock in a report on Thursday. Bank of America cut Teledyne Technologies from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $490.00 to $400.00 in a report on Friday. Finally, Needham & Company LLC cut their price objective on Teledyne Technologies from $510.00 to $455.00 and set a “buy” rating on the stock in a report on Thursday. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $474.86.

Insider Activity at Teledyne Technologies

In related news, Director Michael T. Smith sold 511 shares of Teledyne Technologies stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $431.00, for a total value of $220,241.00. Following the sale, the director now owns 56,492 shares of the company’s stock, valued at approximately $24,348,052. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, Director Michael T. Smith sold 511 shares of Teledyne Technologies stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $431.00, for a total value of $220,241.00. Following the sale, the director now owns 56,492 shares of the company’s stock, valued at approximately $24,348,052. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Simon M. Lorne sold 2,200 shares of the business’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $426.70, for a total value of $938,740.00. Following the transaction, the director now directly owns 67,288 shares in the company, valued at approximately $28,711,789.60. The disclosure for this sale can be found here. In the last quarter, insiders have sold 6,711 shares of company stock valued at $2,890,621. 2.14% of the stock is owned by insiders.

Teledyne Technologies Trading Down 0.6 %

NYSE:TDY opened at $374.64 on Friday. Teledyne Technologies Incorporated has a fifty-two week low of $355.41 and a fifty-two week high of $448.19. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.81 and a quick ratio of 1.17. The stock has a market capitalization of $17.75 billion, a PE ratio of 20.26, a price-to-earnings-growth ratio of 2.58 and a beta of 1.02. The business’s 50-day simple moving average is $416.42 and its 200-day simple moving average is $414.39.

Teledyne Technologies (NYSE:TDY) last announced its earnings results on Wednesday, April 24th. The scientific and technical instruments company reported $4.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.63 by ($0.08). Teledyne Technologies had a net margin of 15.81% and a return on equity of 10.54%. The firm had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.39 billion. During the same period in the prior year, the business posted $4.53 EPS. The firm’s quarterly revenue was down 2.4% compared to the same quarter last year. Sell-side analysts expect that Teledyne Technologies Incorporated will post 19.35 earnings per share for the current fiscal year.

About Teledyne Technologies

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.