First Trust Advisors LP Decreases Holdings in Teledyne Technologies Incorporated (NYSE:TDY)

First Trust Advisors LP decreased its holdings in Teledyne Technologies Incorporated (NYSE:TDY - Free Report) by 12.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 63,408 shares of the scientific and technical instruments company's stock after selling 9,115 shares during the quarter. First Trust Advisors LP owned about 0.14% of Teledyne Technologies worth $29,429,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of TDY. Hurley Capital LLC purchased a new position in Teledyne Technologies during the 4th quarter worth $33,000. Wilmington Savings Fund Society FSB purchased a new position in Teledyne Technologies during the 3rd quarter worth $39,000. Millstone Evans Group LLC purchased a new position in Teledyne Technologies during the 4th quarter worth $42,000. Newbridge Financial Services Group Inc. purchased a new position in Teledyne Technologies during the 4th quarter worth $46,000. Finally, Tortoise Investment Management LLC raised its position in Teledyne Technologies by 63.2% during the 4th quarter. Tortoise Investment Management LLC now owns 124 shares of the scientific and technical instruments company's stock worth $58,000 after buying an additional 48 shares during the last quarter. Hedge funds and other institutional investors own 91.58% of the company's stock.

Teledyne Technologies Trading Down 0.0 %

TDY traded down $0.15 during trading on Tuesday, hitting $462.89. The company's stock had a trading volume of 258,587 shares, compared to its average volume of 256,584. The firm's 50 day moving average price is $481.55 and its 200-day moving average price is $479.10. 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 stock has a market cap of $21.68 billion, a PE ratio of 26.87, a PEG ratio of 3.14 and a beta of 1.03. Teledyne Technologies Incorporated has a twelve month low of $375.94 and a twelve month high of $522.50.

Teledyne Technologies (NYSE:TDY - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The scientific and technical instruments company reported $4.95 earnings per share for the quarter, beating the consensus estimate of $4.92 by $0.03. The company had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.44 billion. Teledyne Technologies had a return on equity of 9.94% and a net margin of 14.45%. Teledyne Technologies's revenue was up 7.4% on a year-over-year basis. During the same period in the previous year, the firm posted $4.55 EPS. On average, analysts expect that Teledyne Technologies Incorporated will post 21.55 earnings per share for the current year.

Insider Activity

In related news, Vice Chairman Jason Vanwees sold 3,700 shares of the company's stock in a transaction on 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 completion of the sale, the insider now directly owns 51,324 shares of the company's stock, valued at approximately $26,691,559.44. This represents a 6.72 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Melanie Susan Cibik sold 706 shares of the company's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $519.96, for a total transaction of $367,091.76. Following the sale, the executive vice president now directly owns 26,529 shares of the company's stock, valued at approximately $13,794,018.84. This trade represents a 2.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 17,880 shares of company stock valued at $9,212,200 in the last ninety days. Company insiders own 1.50% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. TD Securities restated a "buy" rating and set a $550.00 price objective on shares of Teledyne Technologies in a research report on Thursday, April 24th. StockNews.com downgraded shares of Teledyne Technologies from a "buy" rating to a "hold" rating in a report on Monday. Needham & Company LLC cut their price target on shares of Teledyne Technologies from $585.00 to $550.00 and set a "buy" rating for the company in a report on Thursday, April 24th. Finally, 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. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $542.50.

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.