HighTower Advisors LLC Sells 196 Shares of Teledyne Technologies Incorporated (NYSE:TDY)

HighTower Advisors LLC reduced its holdings in shares of Teledyne Technologies Incorporated (NYSE:TDY – Get Rating) by 2.8% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 6,860 shares of the scientific and technical instruments company’s stock after selling 196 shares during the period. HighTower Advisors LLC’s holdings in Teledyne Technologies were worth $2,743,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Raymond James Financial Services Advisors Inc. raised its position in Teledyne Technologies by 93.4% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 4,068 shares of the scientific and technical instruments company’s stock valued at $1,923,000 after purchasing an additional 1,965 shares in the last quarter. American Century Companies Inc. raised its position in Teledyne Technologies by 4.0% during the 1st quarter. American Century Companies Inc. now owns 1,911 shares of the scientific and technical instruments company’s stock valued at $903,000 after purchasing an additional 74 shares in the last quarter. Private Advisor Group LLC raised its position in Teledyne Technologies by 40.1% during the 1st quarter. Private Advisor Group LLC now owns 796 shares of the scientific and technical instruments company’s stock valued at $376,000 after purchasing an additional 228 shares in the last quarter. Cibc World Market Inc. raised its position in Teledyne Technologies by 62.5% during the 1st quarter. Cibc World Market Inc. now owns 1,370 shares of the scientific and technical instruments company’s stock valued at $648,000 after purchasing an additional 527 shares in the last quarter. Finally, Canada Pension Plan Investment Board raised its position in Teledyne Technologies by 1,272.5% during the 1st quarter. Canada Pension Plan Investment Board now owns 1,400 shares of the scientific and technical instruments company’s stock valued at $662,000 after purchasing an additional 1,298 shares in the last quarter. 91.10% of the stock is owned by institutional investors.

Teledyne Technologies Trading Up 1.1 %

TDY opened at $420.91 on Tuesday. The firm has a market cap of $19.80 billion, a price-to-earnings ratio of 26.64, a PEG ratio of 3.21 and a beta of 1.08. The company has a current ratio of 1.94, a quick ratio of 1.30 and a debt-to-equity ratio of 0.42. Teledyne Technologies Incorporated has a 12 month low of $325.00 and a 12 month high of $448.71. The stock has a fifty day moving average price of $422.76 and a 200-day moving average price of $418.79.

Teledyne Technologies (NYSE:TDY – Get Rating) last announced its earnings results on Wednesday, April 26th. The scientific and technical instruments company reported $4.53 earnings per share for the quarter, topping the consensus estimate of $4.43 by $0.10. Teledyne Technologies had a return on equity of 10.98% and a net margin of 13.67%. The firm had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.37 billion. During the same period in the previous year, the business earned $4.27 EPS. The firm’s revenue for the quarter was up 4.7% on a year-over-year basis. As a group, equities research analysts anticipate that Teledyne Technologies Incorporated will post 19.13 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on TDY. StockNews.com lowered Teledyne Technologies from a “buy” rating to a “hold” rating in a research report on Friday, May 12th. Needham & Company LLC decreased their target price on Teledyne Technologies from $498.00 to $470.00 in a research report on Thursday, April 27th. Finally, Credit Suisse Group reduced their price target on Teledyne Technologies from $503.00 to $499.00 in a research report on Friday, April 28th. Two research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $485.67.

Insider Buying and Selling

In related news, VP Melanie Susan Cibik sold 2,000 shares of the business’s stock in a transaction on Monday, May 15th. The stock was sold at an average price of $413.00, for a total transaction of $826,000.00. Following the transaction, the vice president now directly owns 27,305 shares in the company, valued at approximately $11,276,965. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other Teledyne Technologies news, CEO Robert Mehrabian sold 3,400 shares of the business’s stock in a transaction dated Monday, March 6th. The stock was sold at an average price of $440.17, for a total transaction of $1,496,578.00. Following the sale, the chief executive officer now owns 196,052 shares in the company, valued at approximately $86,296,208.84. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Melanie Susan Cibik sold 2,000 shares of the business’s stock in a transaction dated Monday, May 15th. The shares were sold at an average price of $413.00, for a total value of $826,000.00. Following the sale, the vice president now owns 27,305 shares in the company, valued at approximately $11,276,965. The disclosure for this sale can be found here. 2.14% of the stock is owned by company insiders.

Teledyne Technologies Company Profile

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Teledyne Technologies, Inc engages in the provision of electronic and communication products for wireless and satellite systems. It operates through the following business segments: Instrumentation, Digital Imaging, Aerospace and Defense Electronics, and Engineered Systems. The Instrumentation segment provides monitoring and control instruments for marine, environmental, industrial, and other applications, and electronic test and measurement equipment.