Heartland Advisors Inc. Sells 2,709 Shares of Teledyne Technologies Incorporated (NYSE:TDY)

Heartland Advisors Inc. lessened its holdings in shares of Teledyne Technologies Incorporated (NYSE:TDY) by 3.9% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 66,562 shares of the scientific and technical instruments company’s stock after selling 2,709 shares during the quarter. Teledyne Technologies accounts for about 1.7% of Heartland Advisors Inc.’s investment portfolio, making the stock its 3rd largest holding. Heartland Advisors Inc. owned approximately 0.14% of Teledyne Technologies worth $30,893,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Norges Bank acquired a new stake in Teledyne Technologies in the 4th quarter valued at $306,042,000. Madison Investment Advisors LLC purchased a new stake in shares of Teledyne Technologies in the fourth quarter worth about $94,721,000. Raymond James Financial Inc. acquired a new stake in shares of Teledyne Technologies in the fourth quarter valued at about $53,304,000. JPMorgan Chase & Co. raised its holdings in shares of Teledyne Technologies by 6.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,150,065 shares of the scientific and technical instruments company’s stock valued at $503,338,000 after buying an additional 64,617 shares during the period. Finally, Diamond Hill Capital Management Inc. acquired a new position in Teledyne Technologies during the 4th quarter worth approximately $29,348,000. Hedge funds and other institutional investors own 91.58% of the company’s stock.

Analyst Ratings Changes

TDY has been the topic of a number of analyst reports. UBS Group initiated coverage on shares of Teledyne Technologies in a research note on Tuesday, December 10th. They set a “buy” rating and a $585.00 price objective on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $585.00 price target on shares of Teledyne Technologies in a research note on Wednesday, February 5th. Finally, Bank of America upped their price objective on shares of Teledyne Technologies from $550.00 to $600.00 and gave the company a “buy” rating in a research report on Monday, March 17th. Six analysts have rated the stock with a buy rating, According to MarketBeat, Teledyne Technologies currently has a consensus rating of “Buy” and an average price target of $548.00.

Insider Buying and Selling at Teledyne Technologies

In related news, EVP Melanie Susan Cibik sold 706 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $519.96, for a total transaction of $367,091.76. Following the sale, the executive vice president now directly owns 26,529 shares of the company’s stock, valued at approximately $13,794,018.84. This represents a 2.59 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO George C. Bobb III sold 6,308 shares of the firm’s 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 transaction, the chief operating officer now owns 10,482 shares in the company, 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. Insiders have sold 34,571 shares of company stock worth $17,709,721 over the last quarter. 1.50% of the stock is owned by corporate insiders.

Teledyne Technologies Stock Down 0.4 %

TDY stock opened at $507.00 on Friday. The company has a market capitalization of $23.75 billion, a P/E ratio of 29.43, a PEG ratio of 3.14 and a beta of 1.03. The firm has a 50 day simple moving average of $500.60 and a 200-day simple moving average of $474.04. 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.

Teledyne Technologies (NYSE:TDY) last released its earnings results on Wednesday, January 22nd. The scientific and technical instruments company reported $5.52 earnings per share for the quarter, topping the consensus estimate of $5.23 by $0.29. Teledyne Technologies had a net margin of 14.45% and a return on equity of 9.94%. The company had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.45 billion. During the same quarter in the previous year, the firm earned $5.44 EPS. The company’s revenue was up 5.4% on a year-over-year basis. On average, equities research analysts predict that Teledyne Technologies Incorporated will post 21.55 earnings per share for the current fiscal year.

Teledyne Technologies Company 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.