Congress Asset Management Co. Sells 46,579 Shares of Teledyne Technologies Incorporated (NYSE:TDY)

Congress Asset Management Co. trimmed its position in shares of Teledyne Technologies Incorporated (NYSE:TDY - Free Report) by 17.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 228,190 shares of the scientific and technical instruments company's stock after selling 46,579 shares during the quarter. Congress Asset Management Co. owned 0.49% of Teledyne Technologies worth $105,910,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of TDY. New York State Teachers Retirement System raised its holdings in Teledyne Technologies by 9.8% during the fourth quarter. New York State Teachers Retirement System now owns 43,595 shares of the scientific and technical instruments company's stock worth $20,234,000 after buying an additional 3,907 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of Teledyne Technologies by 10.5% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 318,712 shares of the scientific and technical instruments company's stock worth $145,974,000 after acquiring an additional 30,157 shares during the last quarter. Newbridge Financial Services Group Inc. bought a new position in Teledyne Technologies in the 4th quarter valued at about $46,000. WCM Investment Management LLC boosted its stake in Teledyne Technologies by 9.3% during the 4th quarter. WCM Investment Management LLC now owns 3,929 shares of the scientific and technical instruments company's stock valued at $1,828,000 after purchasing an additional 334 shares during the last quarter. Finally, EULAV Asset Management boosted its stake in Teledyne Technologies by 78.5% during the 4th quarter. EULAV Asset Management now owns 43,200 shares of the scientific and technical instruments company's stock valued at $20,050,000 after purchasing an additional 19,000 shares during the last quarter. 91.58% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on TDY. UBS Group started coverage on Teledyne Technologies in a report on Tuesday, December 10th. They issued a "buy" rating and a $585.00 target price on the stock. TD Cowen increased their price target on Teledyne Technologies from $450.00 to $500.00 and gave the company a "buy" rating in a research report on Thursday, October 24th. Bank of America raised shares of Teledyne Technologies from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $450.00 to $550.00 in a report on Friday, November 8th. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $585.00 target price on shares of Teledyne Technologies in a report on Wednesday, February 5th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $538.00.

Insider Buying and Selling

In related 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 sale, the chairman now directly owns 144,553 shares in the company, valued at approximately $74,910,255.66. The trade was a 3.84 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Michael T. Smith sold 2,100 shares of the stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $510.50, for a total transaction of $1,072,050.00. Following the transaction, the director now owns 52,835 shares of the company's stock, valued at $26,972,267.50. This represents a 3.82 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 32,190 shares of company stock valued at $16,386,864. 1.88% of the stock is owned by company insiders.

Teledyne Technologies Stock Performance

NYSE:TDY traded up $5.14 during trading on Wednesday, reaching $502.03. The company's stock had a trading volume of 171,762 shares, compared to its average volume of 249,356. Teledyne Technologies Incorporated has a 12 month low of $355.41 and a 12 month high of $522.50. The firm has a market cap of $23.39 billion, a price-to-earnings ratio of 29.14, a price-to-earnings-growth ratio of 3.07 and a beta of 1.03. The firm has a 50 day moving average of $483.38 and a 200-day moving average of $459.01. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.61 and a current ratio of 2.33.

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