Legal & General Group Plc Sells 89,528 Shares of Teledyne Technologies Incorporated (NYSE:TDY)

Legal & General Group Plc lessened its stake in shares of Teledyne Technologies Incorporated (NYSE:TDY - Free Report) by 27.7% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 233,283 shares of the scientific and technical instruments company's stock after selling 89,528 shares during the period. Legal & General Group Plc owned 0.50% of Teledyne Technologies worth $108,274,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in TDY. Hurley Capital LLC bought a new position in Teledyne Technologies during the fourth quarter valued at approximately $33,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Teledyne Technologies during the 3rd quarter worth approximately $39,000. Millstone Evans Group LLC bought a new position in shares of Teledyne Technologies during the 4th quarter valued at approximately $42,000. Newbridge Financial Services Group Inc. purchased a new position in shares of Teledyne Technologies in the fourth quarter valued at $46,000. Finally, Tortoise Investment Management LLC increased its position in 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 purchasing an additional 48 shares during the last quarter. Hedge funds and other institutional investors own 91.58% of the company's stock.

Insider Buying and Selling at Teledyne Technologies

In other Teledyne Technologies news, 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 value 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 $5,322,445.14. The trade was a 37.57 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Robert Mehrabian sold 5,768 shares of the company's stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $518.22, for a total transaction of $2,989,092.96. Following the completion of the transaction, the chairman now owns 144,553 shares in the company, valued at $74,910,255.66. This represents a 3.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 34,571 shares of company stock valued at $17,709,721 in the last quarter. 1.50% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Needham & Company LLC reissued a "buy" rating and issued a $585.00 price objective on shares of Teledyne Technologies in a research note on Wednesday, February 5th. Bank of America lifted 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. Finally, StockNews.com downgraded Teledyne Technologies from a "buy" rating to a "hold" rating in a research report on Wednesday, April 2nd. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $548.00.

Teledyne Technologies Trading Down 0.6 %

Shares of Teledyne Technologies stock traded down $2.81 during trading on Wednesday, hitting $465.81. The stock had a trading volume of 44,141 shares, compared to its average volume of 257,908. The stock has a market cap of $21.82 billion, a PE ratio of 27.03, a PEG 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. The firm's fifty day simple moving average is $489.18 and its 200-day simple moving average is $477.81. 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 (NYSE:TDY - Get Free Report) last announced its 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. Teledyne Technologies had a return on equity of 9.94% and a net margin of 14.45%. The business had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.45 billion. During the same quarter in the previous year, the business earned $5.44 earnings per share. The company's revenue for the quarter was up 5.4% compared to the same quarter last year. As a group, sell-side 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.