Van ECK Associates Corp Trims Stock Holdings in Teledyne Technologies Incorporated (NYSE:TDY)

Van ECK Associates Corp trimmed its stake in Teledyne Technologies Incorporated (NYSE:TDY) by 8.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,286 shares of the scientific and technical instruments company’s stock after selling 116 shares during the quarter. Van ECK Associates Corp’s holdings in Teledyne Technologies were worth $597,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Brooklyn Investment Group purchased a new stake in Teledyne Technologies during the third quarter valued at $32,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Teledyne Technologies during the third quarter worth about $39,000. Newbridge Financial Services Group Inc. bought a new position in Teledyne Technologies during the fourth quarter valued at approximately $46,000. Salem Investment Counselors Inc. boosted its stake in Teledyne Technologies by 85.5% during the fourth quarter. Salem Investment Counselors Inc. now owns 230 shares of the scientific and technical instruments company’s stock valued at $107,000 after buying an additional 106 shares during the last quarter. Finally, Anchor Investment Management LLC boosted its stake in Teledyne Technologies by 114.4% during the third quarter. Anchor Investment Management LLC now owns 253 shares of the scientific and technical instruments company’s stock valued at $111,000 after buying an additional 135 shares during the last quarter. 91.58% of the stock is owned by institutional investors.

Teledyne Technologies Trading Down 1.9 %

Shares of NYSE:TDY opened at $491.27 on Friday. Teledyne Technologies Incorporated has a 12-month low of $355.41 and a 12-month high of $522.50. The business’s fifty day simple moving average is $485.23 and its 200-day simple moving average is $461.22. The company has a market capitalization of $22.89 billion, a PE ratio of 28.51, a P/E/G ratio of 3.14 and a beta of 1.03. The company has a current ratio of 2.33, a quick ratio of 1.61 and a debt-to-equity ratio of 0.28.

Teledyne Technologies (NYSE:TDY) last announced its quarterly earnings results on Wednesday, January 22nd. The scientific and technical instruments company reported $5.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.23 by $0.29. The business had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.45 billion. Teledyne Technologies had a return on equity of 9.94% and a net margin of 14.45%. The business’s revenue was up 5.4% compared to the same quarter last year. During the same period last year, the business posted $5.44 EPS. As a group, equities research analysts predict that Teledyne Technologies Incorporated will post 21.55 earnings per share for the current fiscal year.

Insider Transactions at Teledyne Technologies

In other news, Chairman Robert Mehrabian sold 5,768 shares of the business’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $518.22, for a total value of $2,989,092.96. Following the completion of the transaction, the chairman now owns 144,553 shares of the company’s stock, valued at $74,910,255.66. The trade was a 3.84 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO George C. Bobb III sold 6,308 shares of the business’s stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $507.77, for a total value of $3,203,013.16. Following the completion of the transaction, the chief operating officer now directly owns 10,482 shares of the company’s stock, valued at approximately $5,322,445.14. This trade represents a 37.57 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 32,190 shares of company stock valued at $16,386,864 in the last quarter. 2.14% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Bank of America raised Teledyne Technologies from a “neutral” rating to a “buy” rating and raised their price objective for the company from $450.00 to $550.00 in a research note on Friday, November 8th. Needham & Company LLC reissued a “buy” rating and set a $585.00 price target on shares of Teledyne Technologies in a research note on Wednesday, February 5th. Finally, UBS Group assumed coverage on Teledyne Technologies in a report on Tuesday, December 10th. They set a “buy” rating and a $585.00 price objective on the stock. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Teledyne Technologies presently has an average rating of “Buy” and an average price target of $538.00.

Teledyne Technologies Company 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.