Teledyne Technologies Incorporated (NYSE:TDY) Holdings Reduced by Marks Group Wealth Management Inc

Marks Group Wealth Management Inc cut its holdings in Teledyne Technologies Incorporated (NYSE:TDY - Free Report) by 3.9% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 18,085 shares of the scientific and technical instruments company's stock after selling 741 shares during the period. Marks Group Wealth Management Inc's holdings in Teledyne Technologies were worth $8,394,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of TDY. Wolff Wiese Magana LLC acquired a new position in Teledyne Technologies in the 3rd quarter valued at $27,000. Brooklyn Investment Group purchased a new stake in shares of Teledyne Technologies during the 3rd quarter valued at $32,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Teledyne Technologies during the 3rd quarter valued at $39,000. Newbridge Financial Services Group Inc. purchased a new stake in shares of Teledyne Technologies during the 4th quarter valued at $46,000. Finally, Exchange Traded Concepts LLC grew its stake in shares of Teledyne Technologies by 432.0% during the 3rd quarter. Exchange Traded Concepts LLC now owns 133 shares of the scientific and technical instruments company's stock valued at $58,000 after buying an additional 108 shares during the period. 91.58% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, COO George C. Bobb III sold 6,308 shares of the 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 sale, the chief operating officer now owns 10,482 shares in the company, valued at $5,322,445.14. This represents a 37.57 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Robert Mehrabian sold 5,768 shares of the 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 sale, the chairman now owns 144,553 shares in the company, valued at approximately $74,910,255.66. This trade represents a 3.84 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 32,190 shares of company stock worth $16,386,864 over the last quarter. 2.14% of the stock is owned by company insiders.

Teledyne Technologies Stock Down 1.9 %

NYSE:TDY traded down $9.54 on Friday, reaching $489.74. The stock had a trading volume of 322,036 shares, compared to its average volume of 259,119. The company has a current ratio of 2.33, a quick ratio of 1.61 and a debt-to-equity ratio of 0.28. The company has a 50-day moving average of $482.68 and a 200 day moving average of $457.55. The stock has a market cap of $22.82 billion, a P/E ratio of 28.42, a price-to-earnings-growth ratio of 3.19 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 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.23 by $0.29. The business had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.45 billion. Teledyne Technologies had a net margin of 14.45% and a return on equity of 9.94%. The company's revenue for the quarter was up 5.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $5.44 EPS. On average, research analysts predict that Teledyne Technologies Incorporated will post 21.59 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on TDY shares. Bank of America raised shares of Teledyne Technologies from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $450.00 to $550.00 in a research note on Friday, November 8th. TD Cowen boosted their price objective on shares of Teledyne Technologies from $450.00 to $500.00 and gave the company a "buy" rating in a research note on Thursday, October 24th. UBS Group started coverage on shares of Teledyne Technologies in a research note on Tuesday, December 10th. They set a "buy" rating and a $585.00 price objective for the company. Finally, Needham & Company LLC reissued a "buy" rating and set a $585.00 price objective on shares of Teledyne Technologies in a research note on Wednesday, February 5th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of $538.00.

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.