Prudential Financial Inc. Trims Position in Teledyne Technologies Incorporated (NYSE:TDY)

Prudential Financial Inc. cut its holdings in shares of Teledyne Technologies Incorporated (NYSE:TDY - Free Report) by 16.8% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 25,339 shares of the scientific and technical instruments company's stock after selling 5,116 shares during the quarter. Prudential Financial Inc. owned 0.05% of Teledyne Technologies worth $11,866,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in TDY. Brooklyn Investment Group purchased a new position in Teledyne Technologies in the 3rd quarter worth $32,000. Wilmington Savings Fund Society FSB purchased a new position in shares of Teledyne Technologies in the third quarter worth about $39,000. Millstone Evans Group LLC bought a new stake in shares of Teledyne Technologies in the 4th quarter valued at about $42,000. Newbridge Financial Services Group Inc. purchased a new stake in Teledyne Technologies during the 4th quarter valued at about $46,000. Finally, Tortoise Investment Management LLC grew its position in 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 last quarter. 91.58% of the stock is currently owned by institutional investors.

Insider Activity at Teledyne Technologies

In other news, Vice Chairman Jason Vanwees sold 3,700 shares of the company's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $520.06, for a total transaction of $1,924,222.00. Following the transaction, the insider now directly owns 51,324 shares of the company's stock, valued at $26,691,559.44. This represents a 6.72 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Cynthia Y. Belak sold 5,745 shares of the company's stock in a transaction dated 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 transaction, the vice president now owns 4,962 shares in the company, valued at $2,522,383.08. This represents a 53.66 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 34,571 shares of company stock valued at $17,709,721 in the last 90 days. Corporate insiders own 1.50% of the company's stock.

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Teledyne Technologies Stock Up 0.2 %

TDY traded up $1.07 on Wednesday, hitting $499.40. The company had a trading volume of 42,165 shares, compared to its average volume of 263,307. Teledyne Technologies Incorporated has a 52-week low of $355.41 and a 52-week high of $522.50. The stock has a fifty day simple moving average of $501.88 and a 200-day simple moving average of $476.20. 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 firm has a market capitalization of $23.39 billion, a P/E ratio of 28.98, a P/E/G ratio of 3.14 and a beta of 1.03.

Teledyne Technologies (NYSE:TDY - Get Free Report) last announced its earnings results 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. Teledyne Technologies had a net margin of 14.45% and a return on equity of 9.94%. The firm had revenue of $1.50 billion for the quarter, compared to analysts' expectations of $1.45 billion. During the same quarter in the previous year, the business posted $5.44 EPS. The company's quarterly revenue was up 5.4% on a year-over-year basis. As a group, equities analysts expect that Teledyne Technologies Incorporated will post 21.55 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have weighed in on TDY. Bank of America boosted their price objective on Teledyne Technologies from $550.00 to $600.00 and gave the company a "buy" rating in a research report on Monday, March 17th. Needham & Company LLC reiterated a "buy" rating and set a $585.00 price target on shares of Teledyne Technologies in a report on Wednesday, February 5th. Finally, UBS Group assumed coverage on Teledyne Technologies in a research note on Tuesday, December 10th. They issued a "buy" rating and a $585.00 target price on the stock. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Teledyne Technologies presently has an average rating of "Buy" and an average target price 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.