New York Life Investment Management LLC Cuts Stock Holdings in Teledyne Technologies Incorporated (NYSE:TDY)

New York Life Investment Management LLC lessened its stake in shares of Teledyne Technologies Incorporated (NYSE:TDY) by 0.5% in the 4th quarter, Holdings Channel reports. The firm owned 6,660 shares of the scientific and technical instruments company’s stock after selling 34 shares during the period. New York Life Investment Management LLC’s holdings in Teledyne Technologies were worth $2,972,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Bruce G. Allen Investments LLC purchased a new position in shares of Teledyne Technologies in the 4th quarter worth $28,000. CVA Family Office LLC bought a new stake in shares of Teledyne Technologies during the fourth quarter worth $31,000. Cary Street Partners Investment Advisory LLC purchased a new stake in shares of Teledyne Technologies during the third quarter valued at $44,000. Anchor Investment Management LLC bought a new position in shares of Teledyne Technologies in the fourth quarter worth about $45,000. Finally, Householder Group Estate & Retirement Specialist LLC increased its stake in Teledyne Technologies by 63.2% in the 4th quarter. Householder Group Estate & Retirement Specialist LLC now owns 111 shares of the scientific and technical instruments company’s stock worth $49,000 after buying an additional 43 shares during the period. 91.58% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. StockNews.com downgraded shares of Teledyne Technologies from a “buy” rating to a “hold” rating in a research note on Thursday, April 25th. Needham & Company LLC reduced their price objective on Teledyne Technologies from $510.00 to $455.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. TD Cowen decreased their price objective on Teledyne Technologies from $475.00 to $450.00 and set a “buy” rating for the company in a report on Thursday, April 25th. Finally, Bank of America lowered shares of Teledyne Technologies from a “buy” rating to a “neutral” rating and reduced their price target for the company from $490.00 to $400.00 in a report on Friday, April 26th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $470.83.

Insider Activity

In related news, Director Simon M. Lorne sold 2,200 shares of the company’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $426.70, for a total transaction of $938,740.00. Following the transaction, the director now directly owns 67,288 shares of the company’s stock, valued at approximately $28,711,789.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.88% of the company’s stock.

Teledyne Technologies Stock Performance

Shares of Teledyne Technologies stock opened at $385.34 on Monday. Teledyne Technologies Incorporated has a one year low of $355.41 and a one year high of $448.19. The company has a market capitalization of $18.26 billion, a PE ratio of 20.84, a P/E/G ratio of 2.66 and a beta of 1.04. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.29 and a current ratio of 1.81. The company has a 50-day simple moving average of $411.71 and a two-hundred day simple moving average of $413.65.

Teledyne Technologies (NYSE:TDY) last posted its earnings results on Wednesday, April 24th. The scientific and technical instruments company reported $4.55 EPS for the quarter, missing analysts’ consensus estimates of $4.63 by ($0.08). Teledyne Technologies had a net margin of 15.81% and a return on equity of 10.54%. The firm had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.39 billion. During the same period in the previous year, the company earned $4.53 EPS. The company’s revenue was down 2.4% on a year-over-year basis. Research analysts expect that Teledyne Technologies Incorporated will post 19.34 EPS for the current fiscal year.

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.