Russell Investments Group Ltd. Trims Stock Holdings in Teledyne Technologies Incorporated (NYSE:TDY)

Russell Investments Group Ltd. cut its position in shares of Teledyne Technologies Incorporated (NYSE:TDY - Free Report) by 3.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 22,292 shares of the scientific and technical instruments company's stock after selling 736 shares during the period. Russell Investments Group Ltd.'s holdings in Teledyne Technologies were worth $10,352,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in TDY. LPL Financial LLC increased its stake in Teledyne Technologies by 8.5% during 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 acquiring an additional 2,224 shares during the last quarter. Amundi increased its position in shares of Teledyne Technologies by 11.9% during the 4th quarter. Amundi now owns 124,874 shares of the scientific and technical instruments company's stock valued at $57,687,000 after purchasing an additional 13,244 shares during the last quarter. Covea Finance lifted its position in Teledyne Technologies by 25.1% in the fourth quarter. Covea Finance now owns 21,400 shares of the scientific and technical instruments company's stock worth $9,932,000 after buying an additional 4,300 shares during the last quarter. ING Groep NV boosted its stake in Teledyne Technologies by 144.9% during the fourth quarter. ING Groep NV now owns 5,952 shares of the scientific and technical instruments company's stock worth $2,763,000 after buying an additional 3,522 shares during the period. Finally, JPMorgan Chase & Co. increased its position in Teledyne Technologies by 6.0% during the third 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 acquiring an additional 64,617 shares during the last quarter. Institutional investors own 91.58% of the company's stock.

Teledyne Technologies Stock Down 0.2 %

NYSE TDY traded down $1.14 during trading on Thursday, reaching $459.76. 50,843 shares of the company's stock traded hands, compared to its average volume of 258,030. 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 company's 50 day simple moving average is $488.18 and its two-hundred day simple moving average is $477.70. Teledyne Technologies Incorporated has a 12-month low of $355.41 and a 12-month high of $522.50. The firm has a market cap of $21.53 billion, a price-to-earnings ratio of 26.69, a price-to-earnings-growth ratio of 3.14 and a beta of 1.03.

Teledyne Technologies (NYSE:TDY - Get Free Report) last released its quarterly earnings results on Wednesday, January 22nd. The scientific and technical instruments company reported $5.52 EPS for the quarter, topping 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 firm had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.45 billion. During the same period in the previous year, the company posted $5.44 EPS. The business's revenue for the quarter was up 5.4% compared to the same quarter last year. As a group, sell-side analysts forecast that Teledyne Technologies Incorporated will post 21.55 EPS for the current fiscal year.

Insider Buying and Selling

In other news, VP Cynthia Y. Belak sold 5,745 shares of the company's stock in a transaction on Friday, January 24th. The stock was sold at an average price of $508.34, for a total transaction of $2,920,413.30. Following the transaction, the vice president now directly owns 4,962 shares of the company's stock, valued at approximately $2,522,383.08. This represents a 53.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO George C. Bobb III sold 6,308 shares of the firm's stock in a transaction 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 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 disclosure for this sale can be found here. Insiders sold a total of 34,571 shares of company stock worth $17,709,721 in the last 90 days. 1.50% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on TDY shares. Bank of America lifted their price target on shares of Teledyne Technologies from $550.00 to $600.00 and gave the stock a "buy" rating in a research note on Monday, March 17th. StockNews.com upgraded Teledyne Technologies from a "hold" rating to a "buy" rating in a report on Wednesday. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $585.00 price objective on shares of Teledyne Technologies in a research report on Wednesday, February 5th. Six analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of "Buy" and an average price target of $548.00.

Teledyne Technologies 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.