Clearbridge Investments LLC trimmed its stake in shares of Teledyne Technologies Incorporated (NYSE:TDY) by 9.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 428,635 shares of the scientific and technical instruments company’s stock after selling 46,439 shares during the quarter. Clearbridge Investments LLC owned about 1.21% of Teledyne Technologies worth $77,647,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors also recently made changes to their positions in TDY. Kohmann Bosshard Financial Services LLC acquired a new stake in Teledyne Technologies in the 4th quarter valued at approximately $101,000. Advisor Group Inc. increased its position in Teledyne Technologies by 41.6% in the 4th quarter. Advisor Group Inc. now owns 1,075 shares of the scientific and technical instruments company’s stock valued at $195,000 after acquiring an additional 316 shares during the period. Kovack Advisors Inc. acquired a new stake in Teledyne Technologies in the 4th quarter valued at approximately $213,000. Zions Bancorporation acquired a new stake in Teledyne Technologies in the 3rd quarter valued at approximately $220,000. Finally, CIBC Asset Management Inc acquired a new stake in Teledyne Technologies in the 4th quarter valued at approximately $220,000. Institutional investors and hedge funds own 85.02% of the company’s stock.
Several analysts recently commented on the company. ValuEngine upgraded Teledyne Technologies from a “hold” rating to a “buy” rating in a research report on Thursday, March 1st. Needham & Company LLC raised their target price on Teledyne Technologies to $205.00 and gave the company a “buy” rating in a research report on Wednesday, January 24th. Finally, Zacks Investment Research raised Teledyne Technologies from a “hold” rating to a “buy” rating and set a $213.00 price target for the company in a research note on Tuesday, February 6th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $196.00.
Teledyne Technologies Incorporated (TDY) opened at $190.69 on Tuesday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.13 and a current ratio of 1.87. The stock has a market capitalization of $6,801.97, a price-to-earnings ratio of 30.56, a price-to-earnings-growth ratio of 3.37 and a beta of 1.02. Teledyne Technologies Incorporated has a one year low of $121.58 and a one year high of $201.40.
Teledyne Technologies (NYSE:TDY) last issued its quarterly earnings results on Thursday, February 1st. The scientific and technical instruments company reported $1.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.74 by $0.21. The firm had revenue of $704.40 million during the quarter, compared to analyst estimates of $669.25 million. Teledyne Technologies had a return on equity of 14.07% and a net margin of 8.73%. The firm’s quarterly revenue was up 27.4% on a year-over-year basis. During the same period last year, the company posted $1.64 EPS. equities research analysts predict that Teledyne Technologies Incorporated will post 7.55 earnings per share for the current year.
In other news, Director Charles Crocker sold 4,000 shares of the firm’s stock in a transaction on Monday, March 5th. The stock was sold at an average price of $183.00, for a total transaction of $732,000.00. Following the completion of the sale, the director now directly owns 47,488 shares of the company’s stock, valued at approximately $8,690,304. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Kenneth C. Dahlberg sold 5,994 shares of the firm’s stock in a transaction on Monday, February 5th. The stock was sold at an average price of $182.44, for a total value of $1,093,545.36. Following the sale, the director now directly owns 12,164 shares of the company’s stock, valued at $2,219,200.16. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 48,494 shares of company stock valued at $9,261,715. 3.73% of the stock is currently owned by corporate insiders.
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Teledyne Technologies Profile
Teledyne Technologies Incorporated provides enabling technologies for industrial growth markets. The Company’s segments include Instrumentation, Digital Imaging, Aerospace and Defense Electronics, and Engineered Systems. Instrumentation segment provides monitoring and control instruments for marine, environmental, industrial and other applications, as well as electronic test and measurement equipment.
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