Yacktman Asset Management LP Sells 3,000 Shares of Teledyne Technologies Incorporated (NYSE:TDY)

Yacktman Asset Management LP reduced its position in Teledyne Technologies Incorporated (NYSE:TDY - Free Report) by 40.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,500 shares of the scientific and technical instruments company's stock after selling 3,000 shares during the period. Yacktman Asset Management LP's holdings in Teledyne Technologies were worth $2,089,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. International Assets Investment Management LLC boosted its holdings in Teledyne Technologies by 44,457.2% in the third quarter. International Assets Investment Management LLC now owns 73,965 shares of the scientific and technical instruments company's stock worth $32,372,000 after purchasing an additional 73,799 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in 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 in the last quarter. Jennison Associates LLC acquired a new stake in shares of Teledyne Technologies in the fourth quarter worth about $19,310,000. State Street Corp boosted its stake in shares of Teledyne Technologies by 1.9% during the 3rd quarter. State Street Corp now owns 2,040,896 shares of the scientific and technical instruments company's stock worth $893,219,000 after acquiring an additional 37,884 shares in the last quarter. Finally, National Bank of Canada FI increased its holdings in shares of Teledyne Technologies by 217.5% during the 3rd quarter. National Bank of Canada FI now owns 53,819 shares of the scientific and technical instruments company's stock valued at $23,554,000 after acquiring an additional 36,867 shares during the last quarter. 91.58% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Teledyne Technologies

In other Teledyne Technologies news, Director Michael T. Smith sold 2,025 shares of Teledyne Technologies stock in a transaction on Thursday, December 12th. The shares were 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 $26,272,663.75. The trade was a 3.56 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Melanie Susan Cibik sold 2,538 shares of the stock in a transaction on Monday, January 27th. The shares were sold at an average price of $513.02, for a total transaction of $1,302,044.76. Following the completion of the transaction, the executive vice president now owns 32,100 shares of the company's stock, valued at approximately $16,467,942. This represents a 7.33 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 32,190 shares of company stock valued at $16,386,864. 2.14% of the stock is owned by corporate insiders.

Teledyne Technologies Stock Performance

NYSE:TDY traded down $9.15 during trading hours on Friday, hitting $490.14. 170,136 shares of the company traded hands, compared to its average volume of 246,255. 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 stock has a market capitalization of $22.84 billion, a price-to-earnings ratio of 28.45, a P/E/G ratio of 3.19 and a beta of 1.03. The firm has a 50-day moving average of $482.23 and a 200 day moving average of $457.26. Teledyne Technologies Incorporated has a twelve month low of $355.41 and a twelve month high of $522.50.

Teledyne Technologies (NYSE:TDY - Get Free Report) last released its 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. Teledyne Technologies had a net margin of 14.45% and a return on equity of 9.94%. The business had revenue of $1.50 billion during the quarter, compared to analysts' expectations of $1.45 billion. During the same quarter last year, the company earned $5.44 earnings per share. The firm's revenue was up 5.4% on a year-over-year basis. On average, analysts forecast that Teledyne Technologies Incorporated will post 21.59 EPS for the current year.

Analyst Ratings Changes

TDY has been the subject of a number of recent analyst reports. UBS Group began coverage on Teledyne Technologies in a research report on Tuesday, December 10th. They set a "buy" rating and a $585.00 target price for the company. Bank of America raised shares of Teledyne Technologies from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $450.00 to $550.00 in a report on Friday, November 8th. Needham & Company LLC reiterated a "buy" rating and issued a $585.00 target price on shares of Teledyne Technologies in a report on Wednesday, February 5th. Finally, TD Cowen upped their price target on shares of Teledyne Technologies from $450.00 to $500.00 and gave the company a "buy" rating in a report on Thursday, October 24th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Teledyne Technologies has an average rating of "Buy" and a consensus price target of $538.00.

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.