Teledyne Technologies Incorporated (NYSE:TDY) Stake Lowered by Diversify Wealth Management LLC

Diversify Wealth Management LLC reduced its stake in shares of Teledyne Technologies Incorporated (NYSE:TDY) by 8.1% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 2,705 shares of the scientific and technical instruments company’s stock after selling 240 shares during the period. Diversify Wealth Management LLC’s holdings in Teledyne Technologies were worth $1,235,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in TDY. Covea Finance increased its holdings in shares of Teledyne Technologies by 25.1% in the 4th quarter. Covea Finance now owns 21,400 shares of the scientific and technical instruments company’s stock worth $9,932,000 after acquiring an additional 4,300 shares during the period. JPMorgan Chase & Co. increased 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 valued at $503,338,000 after purchasing an additional 64,617 shares during the period. Verition Fund Management LLC boosted its position in shares of Teledyne Technologies by 240.5% during the third quarter. Verition Fund Management LLC now owns 36,524 shares of the scientific and technical instruments company’s stock worth $15,985,000 after buying an additional 25,796 shares during the period. West Oak Capital LLC grew its holdings in Teledyne Technologies by 4,721.8% in the 4th quarter. West Oak Capital LLC now owns 11,283 shares of the scientific and technical instruments company’s stock worth $5,237,000 after buying an additional 11,049 shares in the last quarter. Finally, National Bank of Canada FI increased 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 valued at $23,554,000 after acquiring an additional 36,867 shares during the period. 91.58% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Chairman Robert Mehrabian sold 3,925 shares of Teledyne Technologies stock in a transaction on Friday, November 8th. The stock was sold at an average price of $490.50, for a total transaction of $1,925,212.50. Following the completion of the sale, the chairman now 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Vice Chairman Jason Vanwees sold 1,500 shares of the company’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $488.71, for a total value of $733,065.00. Following the completion of the transaction, the insider now directly owns 2,900 shares in the company, valued at approximately $1,417,259. The trade was a 34.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 53,525 shares of company stock valued at $26,080,464. Corporate insiders own 1.88% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Needham & Company LLC boosted their price target on Teledyne Technologies from $528.00 to $550.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Bank of America upgraded shares of Teledyne Technologies from a “neutral” rating to a “buy” rating and increased their target price for the company from $450.00 to $550.00 in a research report on Friday, November 8th. 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 started coverage on shares of Teledyne Technologies in a report on Tuesday, December 10th. They issued a “buy” rating and a $585.00 price objective for the company. Finally, TD Cowen boosted their target price on Teledyne Technologies from $450.00 to $500.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Teledyne Technologies has an average rating of “Buy” and a consensus price target of $531.00.

Teledyne Technologies Trading Up 0.3 %

Teledyne Technologies stock opened at $473.41 on Tuesday. The firm has a market cap of $22.06 billion, a price-to-earnings ratio of 23.93, a price-to-earnings-growth ratio of 2.85 and a beta of 1.01. Teledyne Technologies Incorporated has a 1 year low of $355.41 and a 1 year high of $492.00. The firm’s 50 day moving average price is $471.72 and its two-hundred day moving average price is $444.32. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.35 and a current ratio of 2.00.

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 (EPS) for the quarter, topping analysts’ consensus estimates of $4.97 by $0.13. Teledyne Technologies had a return on equity of 10.02% and a net margin of 16.88%. The company had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.42 billion. During the same period in the previous year, the firm earned $5.05 earnings per share. Teledyne Technologies’s revenue for the quarter was up 2.9% compared to the same quarter last year. On average, research analysts predict that Teledyne Technologies Incorporated will post 19.45 EPS 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.