Rhumbline Advisers Has $40.53 Million Stake in Teledyne Technologies Incorporated (NYSE:TDY)

Rhumbline Advisers lessened its holdings in shares of Teledyne Technologies Incorporated (NYSE:TDY) by 1.0% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 87,329 shares of the scientific and technical instruments company’s stock after selling 873 shares during the period. Rhumbline Advisers’ holdings in Teledyne Technologies were worth $40,533,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. New York State Teachers Retirement System grew its holdings in Teledyne Technologies by 9.8% during the 4th quarter. New York State Teachers Retirement System now owns 43,595 shares of the scientific and technical instruments company’s stock worth $20,234,000 after acquiring an additional 3,907 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of Teledyne Technologies by 10.5% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 318,712 shares of the scientific and technical instruments company’s stock valued at $145,974,000 after purchasing an additional 30,157 shares during the last quarter. Newbridge Financial Services Group Inc. acquired a new stake in shares of Teledyne Technologies in the fourth quarter valued at approximately $46,000. WCM Investment Management LLC raised its position in Teledyne Technologies by 9.3% in the 4th quarter. WCM Investment Management LLC now owns 3,929 shares of the scientific and technical instruments company’s stock worth $1,828,000 after purchasing an additional 334 shares during the last quarter. Finally, EULAV Asset Management lifted its holdings in Teledyne Technologies by 78.5% during the 4th quarter. EULAV Asset Management now owns 43,200 shares of the scientific and technical instruments company’s stock worth $20,050,000 after buying an additional 19,000 shares in the last quarter. 91.58% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Teledyne Technologies

In other news, EVP Melanie Susan Cibik sold 2,699 shares of the business’s stock in a transaction dated Wednesday, January 29th. The stock was sold at an average price of $510.03, for a total value of $1,376,570.97. Following the sale, the executive vice president now directly owns 27,235 shares in the company, valued at $13,890,667.05. The trade was a 9.02 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 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. Over the last ninety days, insiders sold 32,190 shares of company stock valued at $16,386,864. Company insiders own 2.14% of the company’s stock.

Teledyne Technologies Stock Performance

Shares of TDY stock opened at $489.74 on Tuesday. The stock has a 50-day moving average of $483.38 and a 200-day moving average of $459.01. Teledyne Technologies Incorporated has a one year low of $355.41 and a one year high of $522.50. The stock has a market cap of $22.82 billion, a PE ratio of 28.42, a price-to-earnings-growth ratio of 3.19 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.

Teledyne Technologies (NYSE:TDY) last posted its earnings results on Wednesday, January 22nd. The scientific and technical instruments company reported $5.52 earnings per share for the quarter, topping the consensus estimate of $5.23 by $0.29. Teledyne Technologies had a net margin of 14.45% and a return on equity of 9.94%. The company had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.45 billion. During the same period last year, the business posted $5.44 earnings per share. The business’s revenue for the quarter was up 5.4% compared to the same quarter last year. As a group, sell-side analysts expect that Teledyne Technologies Incorporated will post 21.59 earnings per share for the current year.

Analyst Ratings Changes

TDY has been the subject of a number of recent research reports. Needham & Company LLC restated a “buy” rating and set a $585.00 target price on shares of Teledyne Technologies in a research report on Wednesday, February 5th. Bank of America upgraded shares of Teledyne Technologies from a “neutral” rating to a “buy” rating and upped their target price for the company from $450.00 to $550.00 in a research report on Friday, November 8th. TD Cowen lifted their price target on shares of Teledyne Technologies from $450.00 to $500.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Finally, UBS Group started coverage on shares of Teledyne Technologies in a report on Tuesday, December 10th. They issued a “buy” rating and a $585.00 price objective on the stock. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $538.00.

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.