Groupama Asset Managment Reduces Position in Teledyne Technologies Incorporated (NYSE:TDY)

Groupama Asset Managment lessened its holdings in shares of Teledyne Technologies Incorporated (NYSE:TDY) by 46.1% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,512 shares of the scientific and technical instruments company’s stock after selling 2,152 shares during the quarter. Groupama Asset Managment’s holdings in Teledyne Technologies were worth $1,169,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Wilmington Savings Fund Society FSB purchased a new position in Teledyne Technologies in the 3rd quarter valued at approximately $39,000. Millstone Evans Group LLC purchased a new position in shares of Teledyne Technologies in the fourth quarter valued at $42,000. Newbridge Financial Services Group Inc. bought a new stake in shares of Teledyne Technologies during the 4th quarter valued at $46,000. Tortoise Investment Management LLC lifted its holdings in 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 lifted its holdings in 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. Hedge funds and other institutional investors own 91.58% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on TDY shares. Needham & Company LLC reiterated a “buy” rating and set a $585.00 price target on shares of Teledyne Technologies in a research report on Wednesday, February 5th. UBS Group began coverage on shares of Teledyne Technologies in a report on Tuesday, December 10th. They set a “buy” rating and a $585.00 target price on the stock. StockNews.com cut shares of Teledyne Technologies from a “buy” rating to a “hold” rating in a research note on Wednesday. Finally, Bank of America boosted their price target 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. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $548.00.

Teledyne Technologies Trading Up 0.4 %

Shares of Teledyne Technologies stock opened at $500.16 on Thursday. 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 Incorporated has a 1 year low of $355.41 and a 1 year high of $522.50. The firm has a market cap of $23.43 billion, a PE ratio of 29.03, a PEG ratio of 3.14 and a beta of 1.03. The company has a 50 day simple moving average of $501.65 and a two-hundred day simple moving average of $476.36.

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

Insider Activity

In other Teledyne Technologies news, Chairman Robert Mehrabian sold 5,768 shares of the company’s stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $518.22, for a total value of $2,989,092.96. Following the completion of the sale, the chairman now owns 144,553 shares of the company’s stock, valued at $74,910,255.66. This represents a 3.84 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Cynthia Y. Belak sold 5,745 shares of Teledyne Technologies stock in a transaction that occurred 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 transaction, the vice president now directly owns 4,962 shares in the company, valued at $2,522,383.08. This trade represents a 53.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 34,571 shares of company stock worth $17,709,721. 1.50% of the stock is currently owned by insiders.

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.