Amalgamated Bank Sells 258 Shares of Teledyne Technologies Incorporated (NYSE:TDY)

Amalgamated Bank decreased its holdings in shares of Teledyne Technologies Incorporated (NYSE:TDY) by 2.8% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 8,937 shares of the scientific and technical instruments company’s stock after selling 258 shares during the period. Amalgamated Bank’s holdings in Teledyne Technologies were worth $4,148,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in TDY. Covea Finance increased its position in Teledyne Technologies by 25.1% during the 4th quarter. Covea Finance now owns 21,400 shares of the scientific and technical instruments company’s stock valued at $9,932,000 after buying an additional 4,300 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Teledyne Technologies by 6.0% in the third quarter. JPMorgan Chase & Co. now owns 1,150,065 shares of the scientific and technical instruments company’s stock worth $503,338,000 after acquiring an additional 64,617 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in shares of Teledyne Technologies by 10.9% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 6,515 shares of the scientific and technical instruments company’s stock valued at $3,024,000 after acquiring an additional 640 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Teledyne Technologies by 37.8% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,290 shares of the scientific and technical instruments company’s stock worth $2,021,000 after purchasing an additional 1,176 shares during the last quarter. Finally, Verition Fund Management LLC boosted its stake in Teledyne Technologies by 240.5% in the 3rd quarter. Verition Fund Management LLC now owns 36,524 shares of the scientific and technical instruments company’s stock worth $15,985,000 after purchasing an additional 25,796 shares in the last quarter. 91.58% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have weighed in on TDY shares. Bank of America upgraded shares of Teledyne Technologies from a “neutral” rating to a “buy” rating and raised their price objective for the company from $450.00 to $550.00 in a research note on Friday, November 8th. Needham & Company LLC restated a “buy” rating and issued a $585.00 price objective on shares of Teledyne Technologies in a report on Wednesday, February 5th. Finally, UBS Group began coverage on Teledyne Technologies in a research note on Tuesday, December 10th. They set a “buy” rating and a $585.00 target price on the stock. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, Teledyne Technologies presently has a consensus rating of “Buy” and a consensus target price of $538.00.

Teledyne Technologies Stock Up 2.9 %

TDY opened at $515.60 on Friday. The stock has a market capitalization of $24.15 billion, a price-to-earnings ratio of 29.92, a PEG ratio of 3.14 and a beta of 1.03. The firm has a 50 day moving average price of $487.79 and a 200-day moving average price of $463.40. Teledyne Technologies Incorporated has a twelve month low of $355.41 and a twelve month high of $522.50. The company has a quick ratio of 1.61, a current ratio of 2.33 and a debt-to-equity ratio of 0.28.

Teledyne Technologies (NYSE:TDY) last announced 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 business had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.45 billion. Teledyne Technologies had a net margin of 14.45% and a return on equity of 9.94%. The company’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same period in the previous year, the business earned $5.44 EPS. Equities research analysts forecast that Teledyne Technologies Incorporated will post 21.55 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Michael T. Smith sold 2,025 shares of the stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $478.25, for a total value of $968,456.25. Following the transaction, the director now owns 54,935 shares in the company, valued at $26,272,663.75. This represents a 3.56 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO George C. Bobb III sold 6,308 shares of the business’s stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $507.77, for a total transaction of $3,203,013.16. Following 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 three months, insiders have sold 32,190 shares of company stock valued at $16,386,864. Insiders own 1.88% of the company’s stock.

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.