Shelton Capital Management Sells 3,490 Shares of Teledyne Technologies Incorporated (NYSE:TDY)

Shelton Capital Management lowered its position in Teledyne Technologies Incorporated (NYSE:TDY - Free Report) by 35.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,304 shares of the scientific and technical instruments company's stock after selling 3,490 shares during the quarter. Shelton Capital Management's holdings in Teledyne Technologies were worth $2,926,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank purchased a new stake in shares of Teledyne Technologies during the 4th quarter valued at $306,042,000. Madison Investment Advisors LLC purchased a new stake in Teledyne Technologies during the fourth quarter valued at about $94,721,000. Raymond James Financial Inc. bought a new stake in Teledyne Technologies during the fourth quarter worth about $53,304,000. FIL Ltd boosted its holdings in shares of Teledyne Technologies by 72.8% in the 4th quarter. FIL Ltd now owns 260,187 shares of the scientific and technical instruments company's stock worth $120,761,000 after purchasing an additional 109,615 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its position in shares of Teledyne Technologies by 6.0% during 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 last quarter. Hedge funds and other institutional investors own 91.58% of the company's stock.

Wall Street Analyst Weigh In

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

Insider Activity

In other Teledyne Technologies news, COO George C. Bobb III sold 6,308 shares of the company's 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 transaction, the chief operating officer now owns 10,482 shares in the company, valued at approximately $5,322,445.14. This represents a 37.57 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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 stock was sold at an average price of $518.22, for a total transaction of $2,989,092.96. Following the completion of the sale, the chairman now owns 144,553 shares of the company's stock, 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 34,571 shares of company stock valued at $17,709,721 over the last ninety days. 1.50% of the stock is currently owned by corporate insiders.

Teledyne Technologies Stock Up 1.1 %

NYSE:TDY traded up $5.22 during trading hours on Monday, reaching $470.02. 83,947 shares of the company traded hands, compared to its average volume of 257,687. 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 business's 50-day moving average price is $490.99 and its two-hundred day moving average price is $477.66. 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 $22.01 billion, a P/E ratio of 27.28, a P/E/G ratio of 3.14 and a beta of 1.03.

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

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.