Eagle Bay Advisors LLC Sells 38 Shares of Teledyne Technologies Incorporated (NYSE:TDY)

Eagle Bay Advisors LLC reduced its stake in shares of Teledyne Technologies Incorporated (NYSE:TDY) by 7.4% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 475 shares of the scientific and technical instruments company’s stock after selling 38 shares during the period. Eagle Bay Advisors LLC’s holdings in Teledyne Technologies were worth $220,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of TDY. JPMorgan Chase & Co. boosted its holdings in Teledyne Technologies by 6.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,150,065 shares of the scientific and technical instruments company’s stock worth $503,338,000 after buying an additional 64,617 shares during the period. Verition Fund Management LLC raised its position in shares of Teledyne Technologies by 240.5% during the 3rd quarter. Verition Fund Management LLC now owns 36,524 shares of the scientific and technical instruments company’s stock valued at $15,985,000 after buying an additional 25,796 shares in the last quarter. National Bank of Canada FI raised its position in Teledyne Technologies by 217.5% in the 3rd quarter. National Bank of Canada FI now owns 53,819 shares of the scientific and technical instruments company’s stock worth $23,554,000 after purchasing an additional 36,867 shares during the period. Polar Asset Management Partners Inc. purchased a new position in Teledyne Technologies in the 3rd quarter worth $5,208,000. Finally, Tidal Investments LLC raised its position in Teledyne Technologies by 26.7% in the 3rd quarter. Tidal Investments LLC now owns 5,486 shares of the scientific and technical instruments company’s stock worth $2,401,000 after purchasing an additional 1,157 shares during the period. 91.58% of the stock is owned by institutional investors.

Insider Activity

In related news, Director Michael T. Smith sold 2,025 shares of Teledyne Technologies stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $478.25, for a total transaction of $968,456.25. Following the completion of the transaction, the director now directly owns 54,935 shares of the company’s stock, valued at $26,272,663.75. This trade represents a 3.56 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Chairman Robert Mehrabian sold 3,925 shares of Teledyne Technologies stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $490.50, for a total transaction of $1,925,212.50. Following the transaction, the chairman now directly owns 171,802 shares of the company’s stock, valued at approximately $84,268,881. This trade represents a 2.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 53,525 shares of company stock valued at $26,080,464. Corporate insiders own 2.14% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. StockNews.com upgraded shares of Teledyne Technologies from a “hold” rating to a “buy” rating in a research report on Wednesday, October 2nd. UBS Group assumed coverage on shares of Teledyne Technologies in a report on Tuesday, December 10th. They issued a “buy” rating and a $585.00 price target on the stock. Needham & Company LLC raised their price target on shares of Teledyne Technologies from $528.00 to $550.00 and gave the stock a “buy” rating in a report on Monday, November 11th. TD Cowen raised their price target on shares of Teledyne Technologies from $450.00 to $500.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Finally, Bank of America raised shares of Teledyne Technologies from a “neutral” rating to a “buy” rating and raised their price target for the stock from $450.00 to $550.00 in a report on Friday, November 8th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $531.00.

Teledyne Technologies Trading Up 0.3 %

Shares of TDY traded up $1.18 during trading hours on Monday, reaching $457.58. 43,490 shares of the company traded hands, compared to its average volume of 182,735. The company’s fifty day moving average price is $472.44 and its two-hundred day moving average price is $440.81. The company has a market capitalization of $21.32 billion, a price-to-earnings ratio of 23.13, a price-to-earnings-growth ratio of 3.30 and a beta of 1.01. The company has a quick ratio of 1.35, a current ratio of 2.00 and a debt-to-equity ratio of 0.28. Teledyne Technologies Incorporated has a 12 month low of $355.41 and a 12 month high of $492.00.

Teledyne Technologies (NYSE:TDY) last announced its earnings results on Wednesday, October 23rd. The scientific and technical instruments company reported $5.10 earnings per share for the quarter, beating analysts’ consensus estimates of $4.97 by $0.13. The firm had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.42 billion. Teledyne Technologies had a net margin of 16.88% and a return on equity of 10.02%. The company’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $5.05 EPS. Equities research analysts predict that Teledyne Technologies Incorporated will post 19.45 earnings per share for the current fiscal year.

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.