Rhumbline Advisers Has $40.53 Million Position in Teledyne Technologies Incorporated (NYSE:TDY)

Rhumbline Advisers reduced its stake in shares of Teledyne Technologies Incorporated (NYSE:TDY - Free Report) by 1.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 87,329 shares of the scientific and technical instruments company's stock after selling 873 shares during the quarter. Rhumbline Advisers owned about 0.19% of Teledyne Technologies worth $40,533,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Brooklyn Investment Group bought a new stake in shares of Teledyne Technologies during the third quarter valued at approximately $32,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Teledyne Technologies during the third quarter valued at approximately $39,000. Newbridge Financial Services Group Inc. bought a new stake in shares of Teledyne Technologies during the fourth quarter valued at approximately $46,000. Exchange Traded Concepts LLC grew its stake in shares of Teledyne Technologies by 432.0% during the third quarter. Exchange Traded Concepts LLC now owns 133 shares of the scientific and technical instruments company's stock valued at $58,000 after purchasing an additional 108 shares during the last quarter. Finally, Salem Investment Counselors Inc. grew its stake in shares of Teledyne Technologies by 85.5% during the fourth quarter. Salem Investment Counselors Inc. now owns 230 shares of the scientific and technical instruments company's stock valued at $107,000 after purchasing an additional 106 shares during the last quarter. 91.58% of the stock is owned by institutional investors.

Insider Transactions at Teledyne Technologies

In related news, COO George C. Bobb III sold 6,308 shares of the firm's stock in a transaction on 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 directly owns 10,482 shares in the company, valued at $5,322,445.14. This trade represents a 37.57 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Michael T. Smith sold 2,025 shares of the firm's stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $478.25, for a total transaction of $968,456.25. Following the sale, the director now owns 54,935 shares in the company, valued at approximately $26,272,663.75. The trade was a 3.56 % 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 valued at $16,386,864 over the last three months. 2.14% of the stock is currently owned by corporate insiders.

Teledyne Technologies Trading Down 1.9 %

Shares of NYSE TDY traded down $9.72 during midday trading on Friday, reaching $491.27. 253,701 shares of the stock were exchanged, compared to its average volume of 246,576. The business has a 50-day simple moving average of $484.90 and a two-hundred day simple moving average of $460.20. The company has a market capitalization of $22.89 billion, a price-to-earnings ratio of 28.51, a P/E/G 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 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 quarterly earnings results 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. The company had revenue of $1.50 billion for the quarter, compared to analysts' expectations of $1.45 billion. Teledyne Technologies had a net margin of 14.45% and a return on equity of 9.94%. The business's quarterly revenue was up 5.4% compared to the same quarter last year. During the same period last year, the firm posted $5.44 earnings per share. As a group, equities research analysts expect that Teledyne Technologies Incorporated will post 21.55 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Bank of America raised shares of Teledyne Technologies from a "neutral" rating to a "buy" rating and increased their price target for the company from $450.00 to $550.00 in a research note on Friday, November 8th. UBS Group initiated coverage on shares of Teledyne Technologies in a research note on Tuesday, December 10th. They issued a "buy" rating and a $585.00 price objective on the stock. Needham & Company LLC reaffirmed a "buy" rating and issued a $585.00 price objective on shares of Teledyne Technologies in a research note on Wednesday, February 5th. Finally, TD Cowen raised 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. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has an average rating of "Buy" and an average price target of $538.00.

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.