Norden Group LLC Cuts Stock Position in Teledyne Technologies Incorporated (NYSE:TDY)

Norden Group LLC cut its position in shares of Teledyne Technologies Incorporated (NYSE:TDY - Free Report) by 40.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,221 shares of the scientific and technical instruments company's stock after selling 1,540 shares during the quarter. Norden Group LLC's holdings in Teledyne Technologies were worth $1,031,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. State Street Corp grew its position in Teledyne Technologies by 1.9% during the third quarter. State Street Corp now owns 2,040,896 shares of the scientific and technical instruments company's stock valued at $893,219,000 after acquiring an additional 37,884 shares during the last quarter. Janus Henderson Group PLC boosted its stake in shares of Teledyne Technologies by 0.6% in the 3rd quarter. Janus Henderson Group PLC now owns 1,709,475 shares of the scientific and technical instruments company's stock valued at $748,167,000 after purchasing an additional 9,368 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Teledyne Technologies by 2.4% during the 3rd quarter. Geode Capital Management LLC now owns 1,192,019 shares of the scientific and technical instruments company's stock valued at $520,335,000 after purchasing an additional 28,224 shares during the last quarter. JPMorgan Chase & Co. raised its position in 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 worth $503,338,000 after purchasing an additional 64,617 shares during the period. Finally, Allspring Global Investments Holdings LLC lifted its stake in Teledyne Technologies by 10.5% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 318,712 shares of the scientific and technical instruments company's stock worth $145,974,000 after purchasing an additional 30,157 shares during the last quarter. 91.58% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on TDY. Bank of America raised Teledyne Technologies from a "neutral" rating to a "buy" rating and raised their price objective for the company from $450.00 to $550.00 in a research note on Friday, November 8th. Needham & Company LLC restated a "buy" rating and set a $585.00 price target on shares of Teledyne Technologies in a research report on Wednesday, February 5th. Finally, UBS Group initiated coverage on Teledyne Technologies in a research note on Tuesday, December 10th. They issued a "buy" rating and a $585.00 price target on the stock. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of $538.00.

Teledyne Technologies Stock Up 2.9 %

NYSE TDY opened at $515.60 on Monday. Teledyne Technologies Incorporated has a 1 year low of $355.41 and a 1 year high of $522.50. The stock has a market capitalization of $24.15 billion, a PE ratio of 29.92, a PEG ratio of 3.14 and a beta of 1.03. 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 business's 50-day moving average is $488.76 and its 200 day moving average is $464.52.

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

Insider Activity at Teledyne Technologies

In other news, COO George C. Bobb III sold 6,308 shares of the firm's stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $507.77, for a total value of $3,203,013.16. Following the completion of the transaction, the chief operating officer now owns 10,482 shares in the company, valued at $5,322,445.14. This trade represents a 37.57 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Robert Mehrabian sold 5,768 shares of Teledyne Technologies stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $518.22, for a total value of $2,989,092.96. Following the sale, 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 a total of 32,190 shares of company stock worth $16,386,864 over the last quarter. Corporate insiders own 2.14% of the company's stock.

About Teledyne Technologies

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.

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