Commonwealth Equity Services LLC Sells 4,971 Shares of Teledyne Technologies Incorporated (NYSE:TDY)

Commonwealth Equity Services LLC lowered its stake in shares of Teledyne Technologies Incorporated (NYSE:TDY - Free Report) by 36.8% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 8,532 shares of the scientific and technical instruments company's stock after selling 4,971 shares during the quarter. Commonwealth Equity Services LLC's holdings in Teledyne Technologies were worth $3,960,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Stratos Wealth Partners LTD. raised its position in Teledyne Technologies by 4.4% during the fourth quarter. Stratos Wealth Partners LTD. now owns 500 shares of the scientific and technical instruments company's stock valued at $232,000 after purchasing an additional 21 shares in the last quarter. Raymond James Trust N.A. raised its holdings in shares of Teledyne Technologies by 4.8% during the 3rd quarter. Raymond James Trust N.A. now owns 550 shares of the scientific and technical instruments company's stock valued at $241,000 after buying an additional 25 shares in the last quarter. New York Life Investment Management LLC lifted its position in Teledyne Technologies by 0.4% in the 4th quarter. New York Life Investment Management LLC now owns 6,214 shares of the scientific and technical instruments company's stock worth $2,884,000 after buying an additional 25 shares during the last quarter. Allworth Financial LP lifted its position in Teledyne Technologies by 15.1% in the 4th quarter. Allworth Financial LP now owns 206 shares of the scientific and technical instruments company's stock worth $105,000 after buying an additional 27 shares during the last quarter. Finally, Net Worth Advisory Group grew its position in Teledyne Technologies by 1.5% during the fourth quarter. Net Worth Advisory Group now owns 1,802 shares of the scientific and technical instruments company's stock valued at $836,000 after acquiring an additional 27 shares during the last quarter. 91.58% of the stock is owned by institutional investors.

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Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Needham & Company LLC reaffirmed a "buy" rating and issued a $585.00 price objective on shares of Teledyne Technologies in a research note on Wednesday, February 5th. UBS Group initiated coverage on shares of Teledyne Technologies in a research report on Tuesday, December 10th. They set a "buy" rating and a $585.00 price target for the company. Finally, Bank of America raised their price objective on Teledyne Technologies from $550.00 to $600.00 and gave the company a "buy" rating in a research note on Monday, March 17th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $548.00.

Insider Activity

In related news, Vice Chairman Jason Vanwees sold 3,700 shares of the business's stock in a transaction dated 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 transaction, the insider now owns 51,324 shares in the company, valued at $26,691,559.44. The trade was a 6.72 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Cynthia Y. Belak sold 5,745 shares of the stock in a transaction dated 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 of the company's stock, valued at approximately $2,522,383.08. The trade was a 53.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 34,571 shares of company stock valued at $17,709,721. Company insiders own 1.50% of the company's stock.

Teledyne Technologies Trading Down 0.4 %

TDY traded down $2.00 during trading on Thursday, hitting $507.00. 251,210 shares of the stock traded hands, compared to its average volume of 243,669. The firm has a 50-day moving average of $499.91 and a 200 day moving average of $473.81. Teledyne Technologies Incorporated has a 12-month low of $355.41 and a 12-month high of $522.50. The firm has a market capitalization of $23.75 billion, a P/E ratio of 29.43, a price-to-earnings-growth ratio of 3.14 and a beta of 1.03. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.33 and a quick ratio of 1.61.

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