Fayez Sarofim & Co Has $83.39 Million Holdings in Teledyne Technologies Incorporated (NYSE:TDY)

Fayez Sarofim & Co lessened its holdings in Teledyne Technologies Incorporated (NYSE:TDY - Free Report) by 5.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 179,672 shares of the scientific and technical instruments company's stock after selling 10,000 shares during the quarter. Fayez Sarofim & Co owned approximately 0.39% of Teledyne Technologies worth $83,391,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Hurley Capital LLC acquired a new stake in Teledyne Technologies during the 4th quarter worth $33,000. Wilmington Savings Fund Society FSB bought a new stake in Teledyne Technologies in the third quarter valued at about $39,000. Millstone Evans Group LLC bought a new position in Teledyne Technologies during the fourth quarter worth about $42,000. Newbridge Financial Services Group Inc. acquired a new position in shares of Teledyne Technologies during the 4th quarter worth about $46,000. Finally, Tortoise Investment Management LLC increased its stake in shares of Teledyne Technologies by 63.2% in the 4th quarter. Tortoise Investment Management LLC now owns 124 shares of the scientific and technical instruments company's stock valued at $58,000 after acquiring an additional 48 shares during the last quarter. Institutional investors and hedge funds own 91.58% of the company's stock.

Analysts Set New Price Targets

TDY has been the subject of several recent analyst reports. TD Securities reaffirmed a "buy" rating and issued a $550.00 target price on shares of Teledyne Technologies in a research note on Thursday. Bank of America boosted their target price on Teledyne Technologies from $550.00 to $600.00 and gave the company a "buy" rating in a research note on Monday, March 17th. StockNews.com raised Teledyne Technologies from a "hold" rating to a "buy" rating in a research report on Wednesday, April 16th. Finally, Needham & Company LLC decreased their price objective on Teledyne Technologies from $585.00 to $550.00 and set a "buy" rating for the company in a research report on Thursday. Seven research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $542.50.

Teledyne Technologies Stock Up 2.4 %

Shares of TDY traded up $10.87 during mid-day trading on Thursday, hitting $459.39. 424,843 shares of the company's stock were exchanged, compared to its average volume of 258,939. 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 Incorporated has a 52 week low of $361.46 and a 52 week high of $522.50. The company has a market cap of $21.52 billion, a PE ratio of 26.66, a P/E/G ratio of 3.14 and a beta of 1.03. The company has a 50-day simple moving average of $483.69 and a 200 day simple moving average of $478.30.

Teledyne Technologies (NYSE:TDY - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The scientific and technical instruments company reported $4.95 earnings per share for the quarter, beating analysts' consensus estimates of $4.92 by $0.03. Teledyne Technologies had a return on equity of 9.94% and a net margin of 14.45%. The firm had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.44 billion. During the same period last year, the company earned $4.55 earnings per share. On average, research analysts forecast that Teledyne Technologies Incorporated will post 21.55 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Teledyne Technologies news, Vice Chairman Jason Vanwees sold 3,700 shares of the stock in a transaction on Monday, March 3rd. The stock was 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. This trade represents a 6.72 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO George C. Bobb III sold 6,308 shares of the business's stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $507.77, for a total transaction of $3,203,013.16. Following the completion of the sale, the chief operating officer now directly owns 10,482 shares of the company's stock, valued at approximately $5,322,445.14. The trade was a 37.57 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 34,571 shares of company stock valued at $17,709,721. 1.50% of the stock is owned by insiders.

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.