Kennedy Capital Management LLC Lowers Position in Teledyne Technologies Incorporated (NYSE:TDY)

Kennedy Capital Management LLC cut its position in Teledyne Technologies Incorporated (NYSE:TDY - Free Report) by 2.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 43,994 shares of the scientific and technical instruments company's stock after selling 1,123 shares during the period. Kennedy Capital Management LLC owned approximately 0.09% of Teledyne Technologies worth $20,419,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of TDY. LPL Financial LLC boosted its stake in shares of Teledyne Technologies by 8.5% in the fourth quarter. LPL Financial LLC now owns 28,366 shares of the scientific and technical instruments company's stock worth $13,166,000 after buying an additional 2,224 shares during the last quarter. Amundi boosted its position in Teledyne Technologies by 11.9% in the 4th quarter. Amundi now owns 124,874 shares of the scientific and technical instruments company's stock worth $57,687,000 after purchasing an additional 13,244 shares in the last quarter. Covea Finance grew its stake in shares of Teledyne Technologies by 25.1% during the 4th quarter. Covea Finance now owns 21,400 shares of the scientific and technical instruments company's stock worth $9,932,000 after purchasing an additional 4,300 shares during the period. ING Groep NV increased its holdings in shares of Teledyne Technologies by 144.9% during the 4th quarter. ING Groep NV now owns 5,952 shares of the scientific and technical instruments company's stock valued at $2,763,000 after purchasing an additional 3,522 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in shares of Teledyne Technologies by 6.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,150,065 shares of the scientific and technical instruments company's stock valued at $503,338,000 after purchasing an additional 64,617 shares during the period. 91.58% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

TDY has been the subject of a number of recent analyst reports. Needham & Company LLC reaffirmed a "buy" rating and issued a $585.00 price objective on shares of Teledyne Technologies in a report on Wednesday, February 5th. StockNews.com lowered Teledyne Technologies from a "buy" rating to a "hold" rating in a research note on Wednesday, April 2nd. Finally, Bank of America increased their price target on Teledyne Technologies from $550.00 to $600.00 and gave the stock a "buy" rating in a research report on Monday, March 17th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $548.00.

Teledyne Technologies Price Performance

Shares of TDY traded up $0.77 during trading hours on Tuesday, hitting $467.58. 56,520 shares of the stock were exchanged, compared to its average volume of 258,062. The stock's 50-day moving average price is $490.03 and its two-hundred day moving average price is $477.88. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.61 and a current ratio of 2.33. The company has a market cap of $21.90 billion, a price-to-earnings ratio of 27.14, a price-to-earnings-growth ratio of 3.14 and a beta of 1.03. Teledyne Technologies Incorporated has a 12-month low of $355.41 and a 12-month high of $522.50.

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

Insider Transactions at Teledyne Technologies

In related news, EVP Melanie Susan Cibik sold 706 shares of the company's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $519.96, for a total value of $367,091.76. Following the completion of the sale, the executive vice president now owns 26,529 shares of the company's stock, valued at approximately $13,794,018.84. This represents a 2.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, COO George C. Bobb III sold 6,308 shares of the firm's stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $507.77, for a total transaction of $3,203,013.16. Following the sale, the chief operating officer now 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 ownership of the stock. 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 ninety days. Insiders own 1.50% of the company's stock.

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.