Magnetar Financial LLC Trims Stake in Teledyne Technologies Incorporated (NYSE:TDY)

Magnetar Financial LLC cut its holdings in Teledyne Technologies Incorporated (NYSE:TDY - Free Report) by 93.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 432 shares of the scientific and technical instruments company's stock after selling 6,142 shares during the period. Magnetar Financial LLC's holdings in Teledyne Technologies were worth $201,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. State Street Corp raised its stake 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 purchasing an additional 37,884 shares in the last quarter. Janus Henderson Group PLC increased its stake in 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 worth $748,167,000 after buying an additional 9,368 shares during the period. Geode Capital Management LLC grew its stake in Teledyne Technologies by 2.4% in the third quarter. Geode Capital Management LLC now owns 1,192,019 shares of the scientific and technical instruments company's stock worth $520,335,000 after purchasing an additional 28,224 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of 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 buying an additional 64,617 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its stake in shares of Teledyne Technologies by 10.5% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 318,712 shares of the scientific and technical instruments company's stock valued at $145,974,000 after purchasing an additional 30,157 shares in the last quarter. Institutional investors own 91.58% of the company's stock.

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Insider Buying and Selling at Teledyne Technologies

In other news, Vice Chairman Jason Vanwees sold 3,700 shares of the firm's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $520.06, for a total value of $1,924,222.00. Following the sale, the insider now directly owns 51,324 shares in the company, valued at approximately $26,691,559.44. This trade represents a 6.72 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Cynthia Y. Belak sold 5,745 shares of the stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $508.34, for a total value of $2,920,413.30. Following the completion of the transaction, the vice president now owns 4,962 shares in the company, valued at approximately $2,522,383.08. The trade was a 53.66 % decrease in their position. 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 quarter. 1.50% of the stock is owned by company insiders.

Teledyne Technologies Price Performance

TDY stock traded down $2.00 during mid-day trading on Thursday, reaching $507.00. The company's stock had a trading volume of 251,210 shares, compared to its average volume of 243,669. 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's 50 day moving average is $499.91 and its two-hundred day moving average is $473.81. The stock has a market cap of $23.75 billion, a PE ratio of 29.43, a P/E/G ratio of 3.14 and a beta of 1.03. Teledyne Technologies Incorporated has a fifty-two week low of $355.41 and a fifty-two week high of $522.50.

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

Wall Street Analysts Forecast Growth

Several analysts have commented on TDY shares. Bank of America increased their price target on shares of Teledyne Technologies from $550.00 to $600.00 and gave the company a "buy" rating in a research report on Monday, March 17th. UBS Group assumed coverage on shares of Teledyne Technologies in a research report on Tuesday, December 10th. They set a "buy" rating and a $585.00 price target for the company. Finally, Needham & Company LLC reissued a "buy" rating and issued a $585.00 price target on shares of Teledyne Technologies in a report on Wednesday, February 5th. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $548.00.

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.