Townsquare Capital LLC Lowers Stake in Teledyne Technologies Incorporated (NYSE:TDY)

Townsquare Capital LLC cut its holdings in shares of Teledyne Technologies Incorporated (NYSE:TDY - Free Report) by 21.2% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 18,298 shares of the scientific and technical instruments company's stock after selling 4,923 shares during the period. Townsquare Capital LLC's holdings in Teledyne Technologies were worth $8,493,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Hurley Capital LLC bought a new position in Teledyne Technologies in the 4th quarter worth $33,000. Wilmington Savings Fund Society FSB purchased a new position in shares of Teledyne Technologies during the third quarter valued at about $39,000. Millstone Evans Group LLC purchased a new stake in Teledyne Technologies in the fourth quarter worth about $42,000. Newbridge Financial Services Group Inc. bought a new stake in Teledyne Technologies during the 4th quarter valued at approximately $46,000. Finally, Tortoise Investment Management LLC grew its holdings in shares of Teledyne Technologies by 63.2% during the 4th quarter. Tortoise Investment Management LLC now owns 124 shares of the scientific and technical instruments company's stock worth $58,000 after acquiring an additional 48 shares during the period. Institutional investors own 91.58% of the company's stock.

Insider Buying and Selling

In related 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 shares were sold at an average price of $507.77, for a total value of $3,203,013.16. Following the transaction, the chief operating officer now owns 10,482 shares of the company's stock, valued at approximately $5,322,445.14. This trade represents a 37.57 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Cynthia Y. Belak sold 5,745 shares of the company's stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $508.34, for a total transaction of $2,920,413.30. Following the sale, 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 disclosure for this sale can be found here. Over the last quarter, insiders have sold 34,571 shares of company stock worth $17,709,721. 1.50% of the stock is owned by insiders.

Teledyne Technologies Stock Up 0.3 %

Shares of TDY traded up $1.41 on Friday, hitting $462.30. 224,118 shares of the stock traded hands, compared to its average volume of 258,958. The business has a 50 day simple moving average of $487.20 and a 200 day simple moving average of $477.87. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.61 and a current ratio of 2.33. Teledyne Technologies Incorporated has a one year low of $355.41 and a one year high of $522.50. The company has a market capitalization of $21.65 billion, a PE ratio of 26.83, 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 (EPS) for the quarter, beating 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 the consensus estimate of $1.45 billion. During the same period in the prior year, the company posted $5.44 earnings per share. The company's quarterly revenue was up 5.4% on a year-over-year basis. As a group, equities analysts forecast that Teledyne Technologies Incorporated will post 21.55 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. 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. StockNews.com raised shares of Teledyne Technologies from a "hold" rating to a "buy" rating in a research report on Wednesday. Finally, Bank of America upped their price objective on shares of Teledyne Technologies from $550.00 to $600.00 and gave the stock a "buy" rating in a report on Monday, March 17th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of "Buy" and an average price target of $548.00.

Teledyne Technologies Company 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.