Teledyne Technologies Incorporated (NYSE:TDY) Shares Sold by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC cut its position in shares of Teledyne Technologies Incorporated (NYSE:TDY) by 1.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 13,261 shares of the scientific and technical instruments company’s stock after selling 137 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Teledyne Technologies were worth $5,932,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the business. CVA Family Office LLC acquired a new stake in Teledyne Technologies during the 4th quarter valued at approximately $30,000. TCI Wealth Advisors Inc. lifted its holdings in shares of Teledyne Technologies by 236.4% in the first quarter. TCI Wealth Advisors Inc. now owns 74 shares of the scientific and technical instruments company’s stock valued at $33,000 after buying an additional 52 shares during the period. Belpointe Asset Management LLC bought a new position in Teledyne Technologies during the fourth quarter valued at about $36,000. Beacon Capital Management LLC acquired a new position in Teledyne Technologies during the first quarter worth about $41,000. Finally, Massmutual Trust Co. FSB ADV lifted its holdings in Teledyne Technologies by 100.0% in the 1st quarter. Massmutual Trust Co. FSB ADV now owns 104 shares of the scientific and technical instruments company’s stock valued at $47,000 after acquiring an additional 52 shares during the last quarter. Hedge funds and other institutional investors own 87.57% of the company’s stock.

Teledyne Technologies Trading Down 0.4 %

Shares of NYSE TDY opened at $418.30 on Friday. The business has a 50 day simple moving average of $402.54 and a 200 day simple moving average of $413.17. Teledyne Technologies Incorporated has a 52 week low of $325.00 and a 52 week high of $448.71. The stock has a market cap of $19.69 billion, a price-to-earnings ratio of 26.01, a PEG ratio of 3.42 and a beta of 1.05. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.02 and a current ratio of 1.62.

Teledyne Technologies (NYSE:TDY) last posted its earnings results on Wednesday, July 26th. The scientific and technical instruments company reported $4.67 EPS for the quarter, topping the consensus estimate of $4.63 by $0.04. The company had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.41 billion. Teledyne Technologies had a net margin of 13.75% and a return on equity of 10.90%. The company’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $4.43 earnings per share. On average, research analysts predict that Teledyne Technologies Incorporated will post 19.11 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. Bank of America boosted their target price on shares of Teledyne Technologies from $533.00 to $565.00 in a report on Thursday, May 25th. Needham & Company LLC reduced their price objective on Teledyne Technologies from $470.00 to $455.00 and set a “buy” rating for the company in a research note on Thursday, July 27th. StockNews.com lowered Teledyne Technologies from a “buy” rating to a “hold” rating in a research report on Monday. Finally, The Goldman Sachs Group upgraded shares of Teledyne Technologies from a “neutral” rating to a “buy” rating and boosted their price target for the company from $423.00 to $495.00 in a report on Monday, August 14th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, Teledyne Technologies currently has a consensus rating of “Moderate Buy” and a consensus price target of $500.40.

Insider Buying and Selling

In other news, CEO Robert Mehrabian sold 45,500 shares of the firm’s stock in a transaction on Tuesday, August 29th. The stock was sold at an average price of $416.13, for a total value of $18,933,915.00. Following the completion of the sale, the chief executive officer now directly owns 196,052 shares in the company, valued at $81,583,118.76. The sale was disclosed in a filing with the SEC, which is accessible through this link. 2.14% of the stock is owned by company insiders.

Teledyne Technologies Profile

Teledyne Technologies Incorporated, together with its subsidiaries, provides enabling technologies for industrial growth markets in the United States, Canada, the United Kingdom, France, and internationally. The company's Instrumentation segment offers monitoring and control instruments for marine, environmental, industrial, and other applications, as well as electronic test and measurement equipment; and power and communications connectivity devices for distributed instrumentation systems and sensor networks.