HighPoint Advisor Group LLC Cuts Position in Teledyne Technologies Incorporated (NYSE:TDY)

HighPoint Advisor Group LLC decreased its holdings in shares of Teledyne Technologies Incorporated (NYSE:TDY) by 5.9% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 752 shares of the scientific and technical instruments company’s stock after selling 47 shares during the period. HighPoint Advisor Group LLC’s holdings in Teledyne Technologies were worth $382,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in TDY. Wilmington Savings Fund Society FSB purchased a new position in Teledyne Technologies during the third quarter valued at $39,000. Millstone Evans Group LLC bought a new position in shares of Teledyne Technologies during the fourth quarter valued at $42,000. Newbridge Financial Services Group Inc. purchased a new position in shares of Teledyne Technologies in the 4th quarter worth about $46,000. Tortoise Investment Management LLC boosted its stake in Teledyne Technologies by 63.2% in 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 position 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 valued at $80,000 after purchasing an additional 52 shares during the last quarter. 91.58% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

TDY has been the subject of several recent analyst reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $585.00 target price on shares of Teledyne Technologies in a report on Wednesday, February 5th. UBS Group assumed coverage on Teledyne Technologies in a research report on Tuesday, December 10th. They issued a “buy” rating and a $585.00 price objective on the stock. StockNews.com lowered Teledyne Technologies from a “buy” rating to a “hold” rating in a report on Wednesday. Finally, Bank of America upped their price target on Teledyne Technologies from $550.00 to $600.00 and gave the company a “buy” rating in a report on Monday, March 17th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, Teledyne Technologies presently has a consensus rating of “Moderate Buy” and a consensus price target of $548.00.

Teledyne Technologies Price Performance

NYSE TDY opened at $500.16 on Thursday. The stock has a market capitalization of $23.43 billion, a price-to-earnings ratio of 29.03, a PEG ratio of 3.14 and a beta of 1.03. Teledyne Technologies Incorporated has a 1-year low of $355.41 and a 1-year high of $522.50. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.33 and a quick ratio of 1.61. The business’s fifty day moving average price is $501.65 and its 200-day moving average price is $476.36.

Teledyne Technologies (NYSE:TDY) last posted its 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. The company had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.45 billion. Teledyne Technologies had a return on equity of 9.94% and a net margin of 14.45%. Teledyne Technologies’s revenue was up 5.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $5.44 earnings per share. On average, equities analysts predict that Teledyne Technologies Incorporated will post 21.55 earnings per share for the current year.

Insider Activity at Teledyne Technologies

In other news, VP Cynthia Y. Belak sold 5,745 shares of Teledyne Technologies stock in a transaction on Friday, January 24th. The shares were sold at an average price of $508.34, for a total transaction of $2,920,413.30. Following the transaction, the vice president now owns 4,962 shares in the company, valued at $2,522,383.08. This trade represents a 53.66 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO George C. Bobb III sold 6,308 shares of the company’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 completion of the sale, 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. Over the last ninety days, insiders sold 34,571 shares of company stock worth $17,709,721. 1.50% of the stock is owned by company insiders.

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.