Clearbridge Investments LLC Sells 872 Shares of Teledyne Technologies Incorporated (NYSE:TDY)

Clearbridge Investments LLC trimmed 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 filing with the SEC. The firm owned 240,243 shares of the scientific and technical instruments company’s stock after selling 872 shares during the quarter. Clearbridge Investments LLC’s holdings in Teledyne Technologies were worth $107,218,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. Norden Group LLC lifted its position in shares of Teledyne Technologies by 1.2% during the 4th quarter. Norden Group LLC now owns 2,149 shares of the scientific and technical instruments company’s stock valued at $959,000 after acquiring an additional 25 shares during the period. Allworth Financial LP lifted its position in shares of Teledyne Technologies by 26.5% during the 3rd quarter. Allworth Financial LP now owns 129 shares of the scientific and technical instruments company’s stock worth $53,000 after buying an additional 27 shares during the last quarter. Great Lakes Advisors LLC lifted its position in shares of Teledyne Technologies by 5.5% during the 3rd quarter. Great Lakes Advisors LLC now owns 540 shares of the scientific and technical instruments company’s stock worth $221,000 after buying an additional 28 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. lifted its position in shares of Teledyne Technologies by 3.0% during the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 1,089 shares of the scientific and technical instruments company’s stock worth $445,000 after buying an additional 32 shares during the last quarter. Finally, Van ECK Associates Corp lifted its position in shares of Teledyne Technologies by 23.1% during the 4th quarter. Van ECK Associates Corp now owns 181 shares of the scientific and technical instruments company’s stock worth $81,000 after buying an additional 34 shares during the last quarter. 91.58% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently weighed in on TDY. Needham & Company LLC dropped their price objective on Teledyne Technologies from $510.00 to $455.00 and set a “buy” rating for the company in a research report on Thursday, April 25th. TD Cowen dropped their price objective on Teledyne Technologies from $475.00 to $450.00 and set a “buy” rating for the company in a research report on Thursday, April 25th. StockNews.com downgraded Teledyne Technologies from a “buy” rating to a “hold” rating in a research report on Thursday, April 25th. Finally, Bank of America downgraded Teledyne Technologies from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $490.00 to $400.00 in a research report on Friday, April 26th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $470.83.

Teledyne Technologies Price Performance

Shares of TDY opened at $407.90 on Wednesday. Teledyne Technologies Incorporated has a 12-month low of $355.41 and a 12-month high of $448.19. The business has a 50-day simple moving average of $405.36 and a two-hundred day simple moving average of $415.12. The company has a quick ratio of 1.29, a current ratio of 1.81 and a debt-to-equity ratio of 0.28. The stock has a market cap of $19.33 billion, a PE ratio of 22.06, a PEG ratio of 2.81 and a beta of 1.04.

Teledyne Technologies (NYSE:TDY) last issued its quarterly earnings results on Wednesday, April 24th. The scientific and technical instruments company reported $4.55 earnings per share for the quarter, missing the consensus estimate of $4.63 by ($0.08). The company had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.39 billion. Teledyne Technologies had a net margin of 15.81% and a return on equity of 10.54%. The company’s quarterly revenue was down 2.4% on a year-over-year basis. During the same period in the previous year, the company posted $4.53 EPS. Analysts anticipate that Teledyne Technologies Incorporated will post 19.36 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Simon M. Lorne sold 2,200 shares of the stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $426.70, for a total value of $938,740.00. Following the completion of the sale, the director now owns 67,288 shares of the company’s stock, valued at $28,711,789.60. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 1.88% of the company’s stock.

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.