Bank of Montreal Can Sells 24,462 Shares of Teledyne Technologies Incorporated (NYSE:TDY)

Bank of Montreal Can decreased its position in shares of Teledyne Technologies Incorporated (NYSE:TDY - Free Report) by 40.9% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 35,309 shares of the scientific and technical instruments company's stock after selling 24,462 shares during the period. Bank of Montreal Can owned about 0.08% of Teledyne Technologies worth $16,388,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in TDY. Norges Bank purchased a new stake in Teledyne Technologies in the fourth quarter worth about $306,042,000. Madison Investment Advisors LLC purchased a new stake in shares of Teledyne Technologies in the 4th quarter worth approximately $94,721,000. Raymond James Financial Inc. bought a new position in Teledyne Technologies during the 4th quarter valued at approximately $53,304,000. JPMorgan Chase & Co. raised its stake in Teledyne Technologies by 6.0% during 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 buying an additional 64,617 shares during the last quarter. Finally, Diamond Hill Capital Management Inc. purchased a new position in Teledyne Technologies during the fourth quarter valued at $29,348,000. Institutional investors own 91.58% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on TDY shares. Bank of America raised their price target on Teledyne Technologies from $550.00 to $600.00 and gave the company a "buy" rating in a report on Monday, March 17th. Needham & Company LLC restated a "buy" rating and set a $585.00 price objective on shares of Teledyne Technologies in a research note on Wednesday, February 5th. Finally, StockNews.com upgraded shares of Teledyne Technologies from a "hold" rating to a "buy" rating in a research note on Wednesday. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Teledyne Technologies presently has an average rating of "Buy" and a consensus price target of $548.00.

Insider Activity

In other Teledyne Technologies news, COO George C. Bobb III sold 6,308 shares of the company's stock in a transaction that occurred on Friday, January 24th. The stock was 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 in the company, valued at $5,322,445.14. This represents a 37.57 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Cynthia Y. Belak sold 5,745 shares of the business's stock in a transaction on Friday, January 24th. The stock was sold at an average price of $508.34, for a total transaction of $2,920,413.30. Following the completion of the transaction, the vice president now directly owns 4,962 shares in the company, valued at $2,522,383.08. This trade represents a 53.66 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 34,571 shares of company stock valued at $17,709,721 in the last ninety days. Corporate insiders own 1.50% of the company's stock.

Teledyne Technologies Stock Performance

Shares of NYSE TDY traded up $1.41 during trading on Friday, reaching $462.30. 224,118 shares of the company traded hands, compared to its average volume of 258,958. The company has a quick ratio of 1.61, a current ratio of 2.33 and a debt-to-equity ratio of 0.28. Teledyne Technologies Incorporated has a 52-week low of $355.41 and a 52-week high of $522.50. The stock has a market capitalization of $21.65 billion, a PE ratio of 26.83, a P/E/G ratio of 3.14 and a beta of 1.03. The firm has a 50 day simple moving average of $487.20 and a 200-day simple moving average of $477.87.

Teledyne Technologies (NYSE:TDY - Get Free Report) last issued its quarterly earnings results on Wednesday, January 22nd. The scientific and technical instruments company reported $5.52 earnings per share for the quarter, topping the consensus estimate of $5.23 by $0.29. Teledyne Technologies had a net margin of 14.45% and a return on equity of 9.94%. The business had revenue of $1.50 billion for the quarter, compared to analysts' expectations of $1.45 billion. During the same quarter last year, the company posted $5.44 EPS. The company's revenue was up 5.4% compared to the same quarter last year. Equities research analysts anticipate that Teledyne Technologies Incorporated will post 21.55 earnings per share for the current year.

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.