Envestnet Portfolio Solutions Inc. Sells 360 Shares of Teledyne Technologies Incorporated (NYSE:TDY)

Envestnet Portfolio Solutions Inc. reduced its holdings in Teledyne Technologies Incorporated (NYSE:TDY) by 2.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 12,520 shares of the scientific and technical instruments company’s stock after selling 360 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Teledyne Technologies were worth $5,811,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Brooklyn Investment Group bought a new position in Teledyne Technologies in the 3rd quarter worth approximately $32,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Teledyne Technologies during the 3rd quarter worth approximately $39,000. Newbridge Financial Services Group Inc. acquired a new stake in shares of Teledyne Technologies during the 4th quarter worth approximately $46,000. Tortoise Investment Management LLC grew its holdings in shares of Teledyne Technologies by 63.2% during the 4th quarter. Tortoise Investment Management LLC now owns 124 shares of the scientific and technical instruments company’s stock worth $58,000 after purchasing an additional 48 shares in the last quarter. Finally, Private Trust Co. NA grew its holdings in shares of Teledyne Technologies by 43.0% during the 4th quarter. Private Trust Co. NA now owns 173 shares of the scientific and technical instruments company’s stock worth $80,000 after purchasing an additional 52 shares in the last quarter. 91.58% of the stock is owned by institutional investors.

Teledyne Technologies Stock Performance

Shares of NYSE:TDY opened at $498.69 on Wednesday. The business’s fifty day moving average price is $494.82 and its two-hundred day moving average price is $470.83. Teledyne Technologies Incorporated has a fifty-two week low of $355.41 and a fifty-two week high of $522.50. The stock has a market capitalization of $23.36 billion, a price-to-earnings ratio of 28.94, a price-to-earnings-growth ratio of 3.14 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 announced its quarterly earnings results on Wednesday, January 22nd. The scientific and technical instruments company reported $5.52 earnings per share for the quarter, beating analysts’ consensus estimates of $5.23 by $0.29. Teledyne Technologies had a return on equity of 9.94% and a net margin of 14.45%. The firm had revenue of $1.50 billion for the quarter, compared to analysts’ expectations of $1.45 billion. During the same period in the prior year, the business posted $5.44 earnings per share. The business’s revenue was up 5.4% compared to the same quarter last year. As a group, analysts predict that Teledyne Technologies Incorporated will post 21.55 EPS for the current fiscal year.

Analysts Set New Price Targets

TDY has been the topic of several recent research reports. UBS Group initiated coverage on Teledyne Technologies in a report on Tuesday, December 10th. They set a “buy” rating and a $585.00 price objective on the stock. Bank of America lifted their price objective on Teledyne Technologies from $550.00 to $600.00 and gave the stock a “buy” rating in a report on Monday. Finally, Needham & Company LLC reissued a “buy” rating and set a $585.00 price objective on shares of Teledyne Technologies in a report on Wednesday, February 5th. Six research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $548.00.

Insider Transactions at Teledyne Technologies

In other news, VP Cynthia Y. Belak sold 5,745 shares of the stock in a transaction on Friday, January 24th. The stock was sold at an average price of $508.34, for a total transaction of $2,920,413.30. Following the sale, the vice president now owns 4,962 shares in the company, valued at approximately $2,522,383.08. This represents a 53.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO George C. Bobb III sold 6,308 shares of the stock in a transaction on Friday, January 24th. The stock was sold at an average price of $507.77, for a total value of $3,203,013.16. Following the sale, the chief operating officer now owns 10,482 shares in the company, valued at $5,322,445.14. The trade was a 37.57 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 34,571 shares of company stock worth $17,709,721. Insiders own 2.14% 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.