Envestnet Asset Management Inc. Sells 698 Shares of Teledyne Technologies Incorporated (NYSE:TDY)

Envestnet Asset Management Inc. lessened its stake in shares of Teledyne Technologies Incorporated (NYSE:TDY) by 0.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 185,605 shares of the scientific and technical instruments company’s stock after selling 698 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.40% of Teledyne Technologies worth $86,145,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in TDY. LPL Financial LLC boosted its holdings in Teledyne Technologies by 8.5% in the fourth quarter. LPL Financial LLC now owns 28,366 shares of the scientific and technical instruments company’s stock valued at $13,166,000 after acquiring an additional 2,224 shares in the last quarter. Amundi grew its stake in shares of Teledyne Technologies by 11.9% in the fourth quarter. Amundi now owns 124,874 shares of the scientific and technical instruments company’s stock worth $57,687,000 after acquiring an additional 13,244 shares during the last quarter. Covea Finance grew its position in Teledyne Technologies by 25.1% during the 4th quarter. Covea Finance now owns 21,400 shares of the scientific and technical instruments company’s stock valued at $9,932,000 after purchasing an additional 4,300 shares during the last quarter. ING Groep NV increased its position in shares of Teledyne Technologies by 144.9% during the fourth quarter. ING Groep NV now owns 5,952 shares of the scientific and technical instruments company’s stock valued at $2,763,000 after acquiring an additional 3,522 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its holdings 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 purchasing an additional 64,617 shares in the last quarter. Hedge funds and other institutional investors own 91.58% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. StockNews.com lowered shares of Teledyne Technologies from a “buy” rating to a “hold” rating in a research note on Wednesday, April 2nd. Bank of America upped their price target on Teledyne Technologies from $550.00 to $600.00 and gave the stock a “buy” rating in a research report on Monday, March 17th. UBS Group began coverage on shares of Teledyne Technologies in a research report on Tuesday, December 10th. They set a “buy” rating and a $585.00 price objective on the stock. Finally, Needham & Company LLC reissued a “buy” rating and issued a $585.00 price target on shares of Teledyne Technologies in a report on Wednesday, February 5th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $548.00.

Insider Buying and Selling

In other news, VP Cynthia Y. Belak sold 5,745 shares of the firm’s stock in a transaction on Friday, January 24th. The stock was sold at an average price of $508.34, for a total transaction of $2,920,413.30. Following the transaction, the vice president now owns 4,962 shares in the company, valued at approximately $2,522,383.08. This trade represents a 53.66 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, COO George C. Bobb III sold 6,308 shares of the firm’s stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $507.77, for a total transaction of $3,203,013.16. Following the transaction, the chief operating officer now directly owns 10,482 shares in the company, valued at $5,322,445.14. This trade represents a 37.57 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 34,571 shares of company stock valued at $17,709,721 in the last ninety days. 1.50% of the stock is owned by company insiders.

Teledyne Technologies Trading Down 0.8 %

Shares of TDY opened at $434.48 on Wednesday. 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’s fifty day moving average is $494.81 and its 200 day moving average is $476.79. The stock has a market capitalization of $20.35 billion, a PE ratio of 25.22, a P/E/G ratio of 3.14 and a beta of 1.03.

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