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

HighTower Advisors LLC decreased its holdings in Teledyne Technologies Incorporated (NYSE:TDY – Get Rating) by 2.8% in the fourth quarter, HoldingsChannel.com reports. The firm owned 6,860 shares of the scientific and technical instruments company’s stock after selling 196 shares during the quarter. HighTower Advisors LLC’s holdings in Teledyne Technologies were worth $2,743,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the business. ProShare Advisors LLC raised its holdings in Teledyne Technologies by 0.3% in the 4th quarter. ProShare Advisors LLC now owns 7,631 shares of the scientific and technical instruments company’s stock worth $3,052,000 after purchasing an additional 24 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in shares of Teledyne Technologies by 0.8% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 3,419 shares of the scientific and technical instruments company’s stock valued at $1,367,000 after acquiring an additional 28 shares during the last quarter. Texas Permanent School Fund raised its holdings in shares of Teledyne Technologies by 0.4% during the fourth quarter. Texas Permanent School Fund now owns 6,659 shares of the scientific and technical instruments company’s stock valued at $2,663,000 after acquiring an additional 28 shares during the last quarter. Guggenheim Capital LLC raised its holdings in shares of Teledyne Technologies by 0.9% during the third quarter. Guggenheim Capital LLC now owns 3,375 shares of the scientific and technical instruments company’s stock valued at $1,139,000 after acquiring an additional 30 shares during the last quarter. Finally, Gulf International Bank UK Ltd raised its holdings in shares of Teledyne Technologies by 0.4% during the fourth quarter. Gulf International Bank UK Ltd now owns 7,407 shares of the scientific and technical instruments company’s stock valued at $2,962,000 after acquiring an additional 30 shares during the last quarter. Institutional investors and hedge funds own 91.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on TDY. StockNews.com cut Teledyne Technologies from a “buy” rating to a “hold” rating in a report on Friday, May 12th. Credit Suisse Group reduced their target price on Teledyne Technologies from $503.00 to $499.00 in a report on Friday, April 28th. Finally, Needham & Company LLC reduced their target price on Teledyne Technologies from $498.00 to $470.00 in a report on Thursday, April 27th. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $485.67.

Teledyne Technologies Price Performance

TDY stock opened at $420.91 on Tuesday. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.94 and a quick ratio of 1.30. The business has a 50 day simple moving average of $422.76 and a 200-day simple moving average of $418.79. The firm has a market capitalization of $19.80 billion, a PE ratio of 26.64, a price-to-earnings-growth ratio of 3.21 and a beta of 1.08. Teledyne Technologies Incorporated has a 1 year low of $325.00 and a 1 year high of $448.71.

Teledyne Technologies (NYSE:TDY – Get Rating) last posted its quarterly earnings results on Wednesday, April 26th. The scientific and technical instruments company reported $4.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.43 by $0.10. The business had revenue of $1.38 billion during the quarter, compared to analyst estimates of $1.37 billion. Teledyne Technologies had a return on equity of 10.98% and a net margin of 13.67%. The business’s revenue was up 4.7% compared to the same quarter last year. During the same period in the prior year, the business earned $4.27 earnings per share. Equities research analysts anticipate that Teledyne Technologies Incorporated will post 19.13 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Robert Mehrabian sold 3,400 shares of the stock in a transaction that occurred on Monday, March 6th. The stock was sold at an average price of $440.17, for a total value of $1,496,578.00. Following the completion of the transaction, the chief executive officer now directly owns 196,052 shares in the company, valued at $86,296,208.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, VP Melanie Susan Cibik sold 2,000 shares of the firm’s stock in a transaction on Monday, May 15th. The stock was sold at an average price of $413.00, for a total transaction of $826,000.00. Following the completion of the transaction, the vice president now directly owns 27,305 shares in the company, valued at $11,276,965. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Robert Mehrabian sold 3,400 shares of the firm’s stock in a transaction on Monday, March 6th. The stock was sold at an average price of $440.17, for a total value of $1,496,578.00. Following the transaction, the chief executive officer now owns 196,052 shares of the company’s stock, valued at $86,296,208.84. The disclosure for this sale can be found here. 2.14% of the stock is currently owned by company insiders.

About Teledyne Technologies

(Get Rating)

Teledyne Technologies, Inc engages in the provision of electronic and communication products for wireless and satellite systems. It operates through the following business segments: Instrumentation, Digital Imaging, Aerospace and Defense Electronics, and Engineered Systems. The Instrumentation segment provides monitoring and control instruments for marine, environmental, industrial, and other applications, and electronic test and measurement equipment.