Teledyne Technologies Incorporated (NYSE:TDY) Shares Sold by Bank of Nova Scotia

Bank of Nova Scotia reduced its position in Teledyne Technologies Incorporated (NYSE:TDY – Get Rating) by 92.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,835 shares of the scientific and technical instruments company’s stock after selling 47,011 shares during the quarter. Bank of Nova Scotia’s holdings in Teledyne Technologies were worth $1,534,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. ProShare Advisors LLC increased its holdings in Teledyne Technologies by 0.3% in the fourth quarter. ProShare Advisors LLC now owns 7,631 shares of the scientific and technical instruments company’s stock valued at $3,052,000 after buying an additional 24 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in shares of Teledyne Technologies by 0.8% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 3,419 shares of the scientific and technical instruments company’s stock valued at $1,367,000 after purchasing an additional 28 shares during the last quarter. Texas Permanent School Fund grew its holdings in shares of Teledyne Technologies by 0.4% during the fourth quarter. Texas Permanent School Fund now owns 6,659 shares of the scientific and technical instruments company’s stock valued at $2,663,000 after purchasing an additional 28 shares during the last quarter. Guggenheim Capital LLC grew its holdings in shares of Teledyne Technologies by 0.9% during the third quarter. Guggenheim Capital LLC now owns 3,375 shares of the scientific and technical instruments company’s stock valued at $1,139,000 after purchasing an additional 30 shares during the last quarter. Finally, Gulf International Bank UK Ltd grew its holdings in shares of Teledyne Technologies by 0.4% during the fourth quarter. Gulf International Bank UK Ltd now owns 7,407 shares of the scientific and technical instruments company’s stock valued at $2,962,000 after purchasing an additional 30 shares during the last quarter. 91.10% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on TDY. Needham & Company LLC lowered their target price on Teledyne Technologies from $498.00 to $470.00 in a report on Thursday, April 27th. Credit Suisse Group lowered their target price on Teledyne Technologies from $503.00 to $499.00 in a report on Friday, April 28th. Finally, StockNews.com lowered Teledyne Technologies from a “buy” rating to a “hold” rating in a report on Friday, May 12th. Two equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Teledyne Technologies presently has an average rating of “Moderate Buy” and an average price target of $485.67.

Teledyne Technologies Stock Performance

Shares of TDY stock opened at $420.91 on Tuesday. Teledyne Technologies Incorporated has a 12-month low of $325.00 and a 12-month high of $448.71. The firm has a market capitalization of $19.80 billion, a price-to-earnings ratio of 26.64, a price-to-earnings-growth ratio of 3.21 and a beta of 1.08. The business has a 50 day simple moving average of $422.76 and a 200 day simple moving average of $418.79. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.94 and a quick ratio of 1.30.

Teledyne Technologies (NYSE:TDY – Get Rating) last issued its quarterly earnings data on Wednesday, April 26th. The scientific and technical instruments company reported $4.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.43 by $0.10. Teledyne Technologies had a return on equity of 10.98% and a net margin of 13.67%. The business had revenue of $1.38 billion during the quarter, compared to analyst estimates of $1.37 billion. During the same period in the prior year, the company posted $4.27 EPS. The business’s revenue for the quarter was up 4.7% compared to the same quarter last year. On average, equities research analysts anticipate that Teledyne Technologies Incorporated will post 19.13 EPS for the current year.

Insider Buying and Selling

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

Teledyne Technologies 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.