Teledyne Technologies Incorporated (NYSE:TDY) Shares Sold by National Pension Service

National Pension Service cut its stake in Teledyne Technologies Incorporated (NYSE:TDY) by 8.4% in the fourth quarter, Holdings Channel reports. The fund owned 75,496 shares of the scientific and technical instruments company’s stock after selling 6,897 shares during the period. National Pension Service’s holdings in Teledyne Technologies were worth $35,040,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Brooklyn Investment Group acquired a new stake in shares of Teledyne Technologies in the 3rd quarter worth $32,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Teledyne Technologies in the 3rd quarter worth $39,000. Newbridge Financial Services Group Inc. acquired a new stake in shares of Teledyne Technologies in the 4th quarter worth $46,000. Allworth Financial LP grew its holdings in shares of Teledyne Technologies by 15.1% during the 4th quarter. Allworth Financial LP now owns 206 shares of the scientific and technical instruments company’s stock worth $105,000 after purchasing an additional 27 shares during the period. Finally, Salem Investment Counselors Inc. grew its holdings in shares of Teledyne Technologies by 85.5% during the 4th quarter. Salem Investment Counselors Inc. now owns 230 shares of the scientific and technical instruments company’s stock worth $107,000 after purchasing an additional 106 shares during the period. 91.58% of the stock is owned by institutional investors and hedge funds.

Teledyne Technologies Trading Up 2.9 %

Shares of TDY stock opened at $515.60 on Friday. The business’s 50 day moving average is $487.79 and its two-hundred day moving average is $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 market capitalization of $24.15 billion, a P/E ratio of 29.92, a price-to-earnings-growth ratio of 3.14 and a beta of 1.03. The company has a current ratio of 2.33, a quick ratio of 1.61 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 the consensus estimate of $5.23 by $0.29. Teledyne Technologies had a return on equity of 9.94% and a net margin of 14.45%. The company had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.45 billion. During the same period last year, the business posted $5.44 EPS. The company’s revenue was up 5.4% on a year-over-year basis. Equities analysts forecast that Teledyne Technologies Incorporated will post 21.55 EPS for the current year.

Insider Activity at Teledyne Technologies

In related news, COO George C. Bobb III sold 6,308 shares of Teledyne Technologies stock in a transaction that occurred 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 sale, the chief operating officer now directly owns 10,482 shares in the company, valued at $5,322,445.14. The trade was a 37.57 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Robert Mehrabian sold 5,768 shares of Teledyne Technologies stock in a transaction that occurred on Friday, January 31st. The shares were 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 in the company, valued at approximately $74,910,255.66. This trade represents a 3.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 32,190 shares of company stock worth $16,386,864 over the last three months. 1.88% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

TDY has been the subject of a number of research analyst reports. Bank of America upgraded Teledyne Technologies from a “neutral” rating to a “buy” rating and increased their price target for the stock from $450.00 to $550.00 in a report on Friday, November 8th. Needham & Company LLC reaffirmed a “buy” rating and issued a $585.00 price target on shares of Teledyne Technologies in a research report on Wednesday, February 5th. Finally, UBS Group assumed coverage on Teledyne Technologies in a research report on Tuesday, December 10th. They set a “buy” rating and a $585.00 target price on the stock. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $538.00.

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.