Ameriprise Financial Inc. Sells 410 Shares of Teledyne Technologies Incorporated (NYSE:TDY)

Ameriprise Financial Inc. reduced its stake in Teledyne Technologies Incorporated (NYSE:TDY) by 2.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,674 shares of the scientific and technical instruments company’s stock after selling 410 shares during the period. Ameriprise Financial Inc.’s holdings in Teledyne Technologies were worth $6,811,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. LPL Financial LLC grew its stake in Teledyne Technologies by 8.5% in the 4th quarter. LPL Financial LLC now owns 28,366 shares of the scientific and technical instruments company’s stock worth $13,166,000 after acquiring an additional 2,224 shares in the last quarter. Amundi grew its stake in Teledyne Technologies by 11.9% in the 4th quarter. Amundi now owns 124,874 shares of the scientific and technical instruments company’s stock worth $57,687,000 after acquiring an additional 13,244 shares in the last quarter. ING Groep NV boosted its stake in Teledyne Technologies by 144.9% in the fourth quarter. ING Groep NV now owns 5,952 shares of the scientific and technical instruments company’s stock valued at $2,763,000 after acquiring an additional 3,522 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Teledyne Technologies by 6.0% in the third quarter. JPMorgan Chase & Co. now owns 1,150,065 shares of the scientific and technical instruments company’s stock valued at $503,338,000 after acquiring an additional 64,617 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in Teledyne Technologies by 10.9% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 6,515 shares of the scientific and technical instruments company’s stock valued at $3,024,000 after acquiring an additional 640 shares in the last quarter. 91.58% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have weighed in on TDY. Bank of America raised their target price on shares of Teledyne Technologies from $550.00 to $600.00 and gave the company a “buy” rating in a research note on Monday, March 17th. Wall Street Zen raised shares of Teledyne Technologies from a “hold” rating to a “buy” rating in a report on Friday, May 9th. Needham & Company LLC decreased their price target on shares of Teledyne Technologies from $585.00 to $550.00 and set a “buy” rating for the company in a report on Thursday, April 24th. Finally, TD Securities reaffirmed a “buy” rating and issued a $550.00 price target on shares of Teledyne Technologies in a report on Thursday, April 24th. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Teledyne Technologies has an average rating of “Buy” and a consensus price target of $542.50.

Teledyne Technologies Trading Down 0.3%

NYSE TDY opened at $487.93 on Friday. The company has a fifty day simple moving average of $477.79 and a two-hundred day simple moving average of $482.18. The stock has a market cap of $22.86 billion, a P/E ratio of 28.32, a P/E/G ratio of 3.14 and a beta of 1.06. Teledyne Technologies Incorporated has a 12-month low of $380.63 and a 12-month high of $522.50. 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 issued its earnings results on Wednesday, April 23rd. The scientific and technical instruments company reported $4.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.92 by $0.03. Teledyne Technologies had a net margin of 14.45% and a return on equity of 9.94%. The firm had revenue of $1.45 billion during the quarter, compared to analysts’ expectations of $1.44 billion. During the same quarter last year, the company posted $4.55 earnings per share. The firm’s revenue was up 7.4% compared to the same quarter last year. On average, analysts forecast that Teledyne Technologies Incorporated will post 21.55 earnings per share for the current year.

Insider Buying and Selling

In related news, EVP Melanie Susan Cibik sold 706 shares of the firm’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $519.96, for a total transaction of $367,091.76. Following the sale, the executive vice president now owns 26,529 shares in the company, valued at approximately $13,794,018.84. This trade represents a 2.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Vice Chairman Jason Vanwees sold 3,700 shares of the firm’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $520.06, for a total transaction of $1,924,222.00. Following the sale, the insider now owns 51,324 shares in the company, valued at approximately $26,691,559.44. This represents a 6.72% decrease in their position. The disclosure for this sale can be found here. 1.50% of the stock is currently owned by corporate insiders.

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.