Clearbridge Investments LLC Sells 154 Shares of Teledyne Technologies Incorporated (NYSE:TDY)

Clearbridge Investments LLC lowered its position in shares of Teledyne Technologies Incorporated (NYSE:TDY) by 0.1% during the fourth quarter, Holdings Channel.com reports. The firm owned 275,401 shares of the scientific and technical instruments company’s stock after selling 154 shares during the quarter. Clearbridge Investments LLC’s holdings in Teledyne Technologies were worth $127,822,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Schroder Investment Management Group increased its position in Teledyne Technologies by 14.3% during the 4th quarter. Schroder Investment Management Group now owns 73,559 shares of the scientific and technical instruments company’s stock worth $34,222,000 after buying an additional 9,190 shares during the period. Allianz SE bought a new position in Teledyne Technologies during the fourth quarter worth about $1,497,000. Allstate Corp acquired a new stake in Teledyne Technologies in the 4th quarter worth about $618,000. Brown Brothers Harriman & Co. boosted its holdings in Teledyne Technologies by 33.8% in the 4th quarter. Brown Brothers Harriman & Co. now owns 174 shares of the scientific and technical instruments company’s stock valued at $81,000 after purchasing an additional 44 shares during the period. Finally, DnB Asset Management AS grew its position in shares of Teledyne Technologies by 0.9% during the 4th quarter. DnB Asset Management AS now owns 8,111 shares of the scientific and technical instruments company’s stock worth $3,765,000 after purchasing an additional 74 shares in the last quarter. 91.58% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Chairman Robert Mehrabian sold 5,768 shares of the 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 owns 144,553 shares of the company’s stock, valued at $74,910,255.66. This represents a 3.84 % 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 on Friday, January 24th. The stock was 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 directly owns 10,482 shares in the company, valued at approximately $5,322,445.14. The trade was a 37.57 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 34,571 shares of company stock worth $17,709,721. Corporate insiders own 1.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on TDY. UBS Group started coverage on shares of Teledyne Technologies in a research report on Tuesday, December 10th. They issued a “buy” rating and a $585.00 price target for the company. Needham & Company LLC reiterated a “buy” rating and set a $585.00 target price on shares of Teledyne Technologies in a research report on Wednesday, February 5th. Finally, Bank of America increased their target price on Teledyne Technologies from $550.00 to $600.00 and gave the stock a “buy” rating in a report on Monday, March 17th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Teledyne Technologies has a consensus rating of “Buy” and an average price target of $548.00.

Teledyne Technologies Stock Down 2.4 %

NYSE TDY opened at $494.78 on Monday. The business has a fifty day moving average price of $501.03 and a two-hundred day moving average price of $475.20. The stock has a market capitalization of $23.17 billion, a PE ratio of 28.72, a PEG ratio of 3.14 and a beta of 1.03. Teledyne Technologies Incorporated has a fifty-two week low of $355.41 and a fifty-two week 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.

Teledyne Technologies (NYSE:TDY) last announced its quarterly earnings data on Wednesday, January 22nd. The scientific and technical instruments company reported $5.52 earnings per share for the quarter, topping 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 business had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.45 billion. During the same period in the prior year, the company earned $5.44 EPS. Teledyne Technologies’s revenue for the quarter was up 5.4% on a year-over-year basis. Equities analysts expect that Teledyne Technologies Incorporated will post 21.55 earnings per share for the current fiscal year.

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.