Fisher Asset Management LLC Cuts Stock Holdings in Teledyne Technologies Incorporated (NYSE:TDY)

Fisher Asset Management LLC lowered its stake in Teledyne Technologies Incorporated (NYSE:TDY) by 12.7% during the 4th quarter, Holdings Channel reports. The firm owned 2,963 shares of the scientific and technical instruments company’s stock after selling 431 shares during the quarter. Fisher Asset Management LLC’s holdings in Teledyne Technologies were worth $1,322,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of Teledyne Technologies by 0.3% during the 3rd quarter. Vanguard Group Inc. now owns 5,440,032 shares of the scientific and technical instruments company’s stock valued at $2,222,688,000 after buying an additional 13,645 shares in the last quarter. Aristotle Capital Management LLC purchased a new position in shares of Teledyne Technologies in the 3rd quarter worth approximately $698,325,000. Kayne Anderson Rudnick Investment Management LLC increased its position in shares of Teledyne Technologies by 26.3% during the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 929,995 shares of the scientific and technical instruments company’s stock valued at $379,977,000 after purchasing an additional 193,544 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in Teledyne Technologies by 19.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 922,621 shares of the scientific and technical instruments company’s stock valued at $376,965,000 after buying an additional 151,659 shares during the period. Finally, Northern Trust Corp lifted its position in Teledyne Technologies by 8.0% in the third quarter. Northern Trust Corp now owns 509,879 shares of the scientific and technical instruments company’s stock worth $208,326,000 after buying an additional 37,720 shares during the last quarter. Institutional investors own 91.58% of the company’s stock.

Teledyne Technologies Price Performance

Teledyne Technologies stock opened at $392.62 on Friday. The stock has a market cap of $18.60 billion, a price-to-earnings ratio of 21.23, a price-to-earnings-growth ratio of 2.66 and a beta of 1.04. The firm has a 50-day moving average of $408.99 and a two-hundred day moving average of $413.36. Teledyne Technologies Incorporated has a 1 year low of $355.41 and a 1 year high of $448.19. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.81 and a quick ratio of 1.29.

Teledyne Technologies (NYSE:TDY) last announced its quarterly earnings data on Wednesday, April 24th. The scientific and technical instruments company reported $4.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.63 by ($0.08). The firm had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.39 billion. Teledyne Technologies had a return on equity of 10.54% and a net margin of 15.81%. The firm’s revenue for the quarter was down 2.4% compared to the same quarter last year. During the same period last year, the company earned $4.53 EPS. On average, research analysts forecast that Teledyne Technologies Incorporated will post 19.34 earnings per share for the current year.

Analyst Upgrades and Downgrades

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

Insider Transactions at Teledyne Technologies

In related news, Director Simon M. Lorne sold 2,200 shares of the company’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $426.70, for a total value of $938,740.00. Following the completion of the sale, the director now directly owns 67,288 shares of the company’s stock, valued at $28,711,789.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.88% of the company’s stock.

Teledyne Technologies 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.