Teledyne Technologies Incorporated (NYSE:TDY) Shares Sold by Wealth Alliance

Wealth Alliance reduced its position in Teledyne Technologies Incorporated (NYSE:TDY) by 2.1% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,755 shares of the scientific and technical instruments company’s stock after selling 37 shares during the quarter. Wealth Alliance’s holdings in Teledyne Technologies were worth $815,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in TDY. Exchange Traded Concepts LLC raised its stake in Teledyne Technologies by 432.0% in the 3rd quarter. Exchange Traded Concepts LLC now owns 133 shares of the scientific and technical instruments company’s stock valued at $58,000 after purchasing an additional 108 shares during the last quarter. Creative Planning raised its stake in Teledyne Technologies by 13.3% in the 3rd quarter. Creative Planning now owns 4,184 shares of the scientific and technical instruments company’s stock valued at $1,831,000 after purchasing an additional 492 shares during the last quarter. Bleakley Financial Group LLC raised its stake in Teledyne Technologies by 4.0% in the 3rd quarter. Bleakley Financial Group LLC now owns 681 shares of the scientific and technical instruments company’s stock valued at $298,000 after purchasing an additional 26 shares during the last quarter. Sequoia Financial Advisors LLC increased its stake in shares of Teledyne Technologies by 4.5% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 876 shares of the scientific and technical instruments company’s stock worth $383,000 after acquiring an additional 38 shares during the last quarter. Finally, International Assets Investment Management LLC increased its stake in shares of Teledyne Technologies by 44,457.2% in the 3rd quarter. International Assets Investment Management LLC now owns 73,965 shares of the scientific and technical instruments company’s stock worth $32,372,000 after acquiring an additional 73,799 shares during the last quarter. 91.58% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Teledyne Technologies

In related news, Chairman Robert Mehrabian sold 5,007 shares of the firm’s stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $510.33, for a total transaction of $2,555,222.31. Following the completion of the transaction, the chairman now directly owns 144,553 shares in the company, valued at $73,769,732.49. This trade represents a 3.35 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available 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 value of $3,203,013.16. Following the transaction, the chief operating officer now owns 10,482 shares of the company’s stock, valued at $5,322,445.14. This trade represents a 37.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 32,190 shares of company stock worth $16,386,864. 2.14% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. TD Cowen raised their target price on Teledyne Technologies from $450.00 to $500.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Needham & Company LLC reaffirmed a “buy” rating and issued a $585.00 target price on shares of Teledyne Technologies in a research note on Wednesday, February 5th. Bank of America raised Teledyne Technologies from a “neutral” rating to a “buy” rating and raised their target price for the stock from $450.00 to $550.00 in a research note on Friday, November 8th. Finally, UBS Group assumed coverage on Teledyne Technologies in a research note on Tuesday, December 10th. They issued a “buy” rating and a $585.00 target price for the company. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $538.00.

Teledyne Technologies Stock Performance

NYSE TDY opened at $501.19 on Friday. The stock has a market cap of $23.36 billion, a PE ratio of 29.09, a P/E/G ratio of 3.11 and a beta of 1.03. The company has a current ratio of 2.33, a quick ratio of 1.61 and a debt-to-equity ratio of 0.28. Teledyne Technologies Incorporated has a twelve month low of $355.41 and a twelve month high of $522.50. The stock has a fifty day simple moving average of $484.90 and a 200-day simple moving average of $460.20.

Teledyne Technologies (NYSE:TDY) last released its quarterly earnings results on Wednesday, January 22nd. The scientific and technical instruments company reported $5.52 earnings per share for the quarter, topping analysts’ consensus estimates of $5.23 by $0.29. The business had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.45 billion. Teledyne Technologies had a return on equity of 9.94% and a net margin of 14.45%. The company’s revenue was up 5.4% compared to the same quarter last year. During the same period in the prior year, the business posted $5.44 EPS. Equities analysts anticipate that Teledyne Technologies Incorporated will post 21.55 earnings per share for the current year.

Teledyne Technologies Profile

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.