Loomis Sayles & Co. L P Has $1.62 Million Stock Position in Teledyne Technologies Incorporated (NYSE:TDY)

Loomis Sayles & Co. L P cut its holdings in Teledyne Technologies Incorporated (NYSE:TDY) by 51.6% during the 4th quarter, HoldingsChannel reports. The fund owned 3,494 shares of the scientific and technical instruments company’s stock after selling 3,721 shares during the quarter. Loomis Sayles & Co. L P’s holdings in Teledyne Technologies were worth $1,622,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of TDY. Madison Investment Advisors LLC acquired a new stake in Teledyne Technologies during the fourth quarter worth approximately $94,721,000. Raymond James Financial Inc. acquired a new stake in shares of Teledyne Technologies during the 4th quarter worth $53,304,000. JPMorgan Chase & Co. grew its holdings in shares of Teledyne Technologies by 6.0% during 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 purchasing an additional 64,617 shares in the last quarter. Diamond Hill Capital Management Inc. bought a new position in shares of Teledyne Technologies in the fourth quarter worth $29,348,000. Finally, Proficio Capital Partners LLC acquired a new position in Teledyne Technologies in the fourth quarter valued at about $29,081,000. 91.58% of the stock is owned by institutional investors.

Insider Transactions at Teledyne Technologies

In other Teledyne Technologies news, Chairman Robert Mehrabian sold 5,768 shares of the company’s 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 transaction, the chairman now directly owns 144,553 shares in the company, valued at approximately $74,910,255.66. This represents a 3.84 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Melanie Susan Cibik sold 706 shares of the firm’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $519.96, for a total value of $367,091.76. Following the transaction, the executive vice president now directly owns 26,529 shares of the company’s stock, valued at approximately $13,794,018.84. This represents a 2.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 34,571 shares of company stock worth $17,709,721. Insiders own 1.50% of the company’s stock.

Teledyne Technologies Price Performance

Shares of NYSE:TDY opened at $494.78 on Friday. Teledyne Technologies Incorporated has a one year low of $355.41 and a one 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 company has a market cap of $23.17 billion, a price-to-earnings ratio of 28.72, a PEG ratio of 3.14 and a beta of 1.03. The firm has a 50 day simple moving average of $501.03 and a 200 day simple moving average of $474.86.

Teledyne Technologies (NYSE:TDY) last announced its quarterly earnings results on Wednesday, January 22nd. The scientific and technical instruments company reported $5.52 EPS for the quarter, beating analysts’ consensus estimates of $5.23 by $0.29. The company had revenue of $1.50 billion during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same period in the prior year, the company earned $5.44 EPS. Research analysts predict that Teledyne Technologies Incorporated will post 21.55 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have commented on TDY shares. Bank of America raised their target price on shares of Teledyne Technologies from $550.00 to $600.00 and gave the company a “buy” rating in a report on Monday, March 17th. Needham & Company LLC restated a “buy” rating and set a $585.00 price objective on shares of Teledyne Technologies in a research report on Wednesday, February 5th. Finally, UBS Group initiated coverage on Teledyne Technologies in a report on Tuesday, December 10th. They issued a “buy” rating and a $585.00 target price on the stock. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $548.00.

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.