Corebridge Financial Inc. Sells 581 Shares of Teledyne Technologies Incorporated (NYSE:TDY)

Corebridge Financial Inc. trimmed its position in Teledyne Technologies Incorporated (NYSE:TDY - Free Report) by 5.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,033 shares of the scientific and technical instruments company's stock after selling 581 shares during the quarter. Corebridge Financial Inc.'s holdings in Teledyne Technologies were worth $5,121,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Brooklyn Investment Group bought a new position in shares of Teledyne Technologies in the third quarter worth about $32,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Teledyne Technologies during the third quarter worth approximately $39,000. Millstone Evans Group LLC acquired a new position in shares of Teledyne Technologies during the fourth quarter worth approximately $42,000. Newbridge Financial Services Group Inc. bought a new stake in shares of Teledyne Technologies in the fourth quarter valued at approximately $46,000. Finally, Tortoise Investment Management LLC grew its stake in shares of Teledyne Technologies by 63.2% in the fourth quarter. Tortoise Investment Management LLC now owns 124 shares of the scientific and technical instruments company's stock worth $58,000 after acquiring an additional 48 shares during the last quarter. Institutional investors own 91.58% of the company's stock.

Analyst Upgrades and Downgrades

TDY has been the subject of a number of research reports. Bank of America increased their price target on shares of Teledyne Technologies from $550.00 to $600.00 and gave the company a "buy" rating in a report on Monday, March 17th. UBS Group began coverage on Teledyne Technologies in a research report on Tuesday, December 10th. They set a "buy" rating and a $585.00 target price on the stock. Needham & Company LLC reaffirmed a "buy" rating and issued a $585.00 price target on shares of Teledyne Technologies in a report on Wednesday, February 5th. Finally, StockNews.com lowered Teledyne Technologies from a "buy" rating to a "hold" rating in a report on Wednesday. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $548.00.

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Insider Buying and Selling

In related news, Vice Chairman Jason Vanwees sold 3,700 shares of the firm's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $520.06, for a total value of $1,924,222.00. Following the completion of the sale, the insider now owns 51,324 shares of the company's stock, valued at $26,691,559.44. This trade represents a 6.72 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Chairman Robert Mehrabian sold 5,768 shares of the company's stock in a transaction on 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 transaction, the chairman now directly owns 144,553 shares in the company, valued at approximately $74,910,255.66. This represents a 3.84 % 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 worth $17,709,721 in the last three months. Insiders own 1.50% of the company's stock.

Teledyne Technologies Price Performance

Shares of Teledyne Technologies stock traded down $27.08 during midday trading on Thursday, hitting $472.60. 31,960 shares of the company were exchanged, compared to its average volume of 254,192. The firm has a 50 day simple moving average of $501.65 and a 200-day simple moving average of $476.36. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.33 and a quick ratio of 1.61. The firm has a market cap of $22.14 billion, a P/E ratio of 27.43, a PEG ratio of 3.14 and a beta of 1.03. Teledyne Technologies Incorporated has a 52 week low of $355.41 and a 52 week high of $532.21.

Teledyne Technologies (NYSE:TDY - Get Free Report) 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 the consensus estimate of $5.23 by $0.29. The firm had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.45 billion. Teledyne Technologies had a net margin of 14.45% and a return on equity of 9.94%. The firm's quarterly revenue was up 5.4% on a year-over-year basis. During the same period last year, the firm posted $5.44 EPS. Research analysts forecast 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.