Security Asset Management decreased its holdings in shares of Teledyne Technologies Incorporated (NYSE:TDY – Free Report) by 21.4% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,020 shares of the scientific and technical instruments company’s stock after selling 1,365 shares during the quarter. Security Asset Management’s holdings in Teledyne Technologies were worth $2,246,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. TCI Wealth Advisors Inc. boosted its holdings in shares of Teledyne Technologies by 236.4% during the first quarter. TCI Wealth Advisors Inc. now owns 74 shares of the scientific and technical instruments company’s stock worth $33,000 after purchasing an additional 52 shares during the last quarter. CVA Family Office LLC acquired a new stake in shares of Teledyne Technologies during the fourth quarter worth $30,000. Belpointe Asset Management LLC acquired a new stake in shares of Teledyne Technologies during the fourth quarter worth $36,000. Beacon Capital Management LLC acquired a new stake in shares of Teledyne Technologies during the first quarter worth $41,000. Finally, Clear Street Markets LLC boosted its holdings in shares of Teledyne Technologies by 91.7% during the first quarter. Clear Street Markets LLC now owns 92 shares of the scientific and technical instruments company’s stock worth $41,000 after purchasing an additional 44 shares during the last quarter. Institutional investors and hedge funds own 87.57% of the company’s stock.
Analyst Ratings Changes
TDY has been the topic of several research reports. The Goldman Sachs Group raised Teledyne Technologies from a “neutral” rating to a “buy” rating and increased their target price for the stock from $423.00 to $495.00 in a research report on Monday, August 14th. Needham & Company LLC cut their target price on Teledyne Technologies from $470.00 to $455.00 and set a “buy” rating on the stock in a research report on Thursday, July 27th. Bank of America increased their target price on Teledyne Technologies from $533.00 to $565.00 in a research report on Thursday, May 25th. Finally, StockNews.com raised Teledyne Technologies from a “hold” rating to a “buy” rating in a research report on Tuesday. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $500.40.
Get Our Latest Stock Analysis on Teledyne Technologies
Insider Activity
In other news, CEO Robert Mehrabian sold 45,500 shares of the firm’s stock in a transaction dated Tuesday, August 29th. The stock was sold at an average price of $416.13, for a total transaction of $18,933,915.00. Following the completion of the sale, the chief executive officer now directly owns 196,052 shares in the company, valued at $81,583,118.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CFO Sue Main sold 770 shares of Teledyne Technologies stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $420.28, for a total value of $323,615.60. Following the completion of the transaction, the chief financial officer now directly owns 40,113 shares in the company, valued at $16,858,691.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Robert Mehrabian sold 45,500 shares of Teledyne Technologies stock in a transaction dated Tuesday, August 29th. The stock was sold at an average price of $416.13, for a total value of $18,933,915.00. Following the completion of the transaction, the chief executive officer now owns 196,052 shares of the company’s stock, valued at $81,583,118.76. The disclosure for this sale can be found here. Insiders sold 59,270 shares of company stock worth $24,748,731 over the last ninety days. Corporate insiders own 2.14% of the company’s stock.
Teledyne Technologies Stock Down 0.3 %
NYSE:TDY traded down $1.32 during mid-day trading on Wednesday, hitting $411.58. The company had a trading volume of 57,439 shares, compared to its average volume of 234,668. The business has a fifty day simple moving average of $403.53 and a 200-day simple moving average of $412.26. The company has a current ratio of 1.62, a quick ratio of 1.02 and a debt-to-equity ratio of 0.34. Teledyne Technologies Incorporated has a 1 year low of $325.00 and a 1 year high of $448.71. The firm has a market capitalization of $19.38 billion, a price-to-earnings ratio of 25.68, a PEG ratio of 3.46 and a beta of 1.03.
Teledyne Technologies (NYSE:TDY – Get Free Report) last announced its earnings results on Wednesday, July 26th. The scientific and technical instruments company reported $4.67 earnings per share for the quarter, beating the consensus estimate of $4.63 by $0.04. The company had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.41 billion. Teledyne Technologies had a return on equity of 10.90% and a net margin of 13.75%. The company’s revenue was up 5.1% on a year-over-year basis. During the same period last year, the firm earned $4.43 earnings per share. Equities analysts forecast that Teledyne Technologies Incorporated will post 19.11 earnings per share for the current fiscal year.
Teledyne Technologies Profile
Teledyne Technologies Incorporated, together with its subsidiaries, provides enabling technologies for industrial growth markets in the United States, Canada, the United Kingdom, France, and internationally. The company’s Instrumentation segment offers monitoring and control instruments for marine, environmental, industrial, and other applications, as well as electronic test and measurement equipment; and power and communications connectivity devices for distributed instrumentation systems and sensor networks.
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