Orion Portfolio Solutions LLC Lowers Stock Position in Teledyne Technologies Incorporated (NYSE:TDY)

Orion Portfolio Solutions LLC trimmed its position in shares of Teledyne Technologies Incorporated (NYSE:TDY) by 5.8% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,615 shares of the scientific and technical instruments company’s stock after selling 224 shares during the period. Orion Portfolio Solutions LLC’s holdings in Teledyne Technologies were worth $1,582,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Tortoise Investment Management LLC raised its holdings in shares of Teledyne Technologies by 48.0% in the 2nd quarter. Tortoise Investment Management LLC now owns 74 shares of the scientific and technical instruments company’s stock worth $29,000 after purchasing an additional 24 shares during the period. Metis Global Partners LLC raised its holdings in Teledyne Technologies by 1.6% in the third quarter. Metis Global Partners LLC now owns 1,514 shares of the scientific and technical instruments company’s stock valued at $663,000 after buying an additional 24 shares during the period. Crumly & Associates Inc. raised its holdings in Teledyne Technologies by 3.8% in the third quarter. Crumly & Associates Inc. now owns 677 shares of the scientific and technical instruments company’s stock valued at $296,000 after buying an additional 25 shares during the period. Raymond James Trust N.A. grew its stake in Teledyne Technologies by 4.8% during the third quarter. Raymond James Trust N.A. now owns 550 shares of the scientific and technical instruments company’s stock worth $241,000 after buying an additional 25 shares during the period. Finally, Bleakley Financial Group LLC grew its stake in Teledyne Technologies by 4.0% during the third quarter. Bleakley Financial Group LLC now owns 681 shares of the scientific and technical instruments company’s stock worth $298,000 after buying an additional 26 shares during the period. 91.58% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Chairman Robert Mehrabian sold 46,075 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $487.33, for a total transaction of $22,453,729.75. Following the transaction, the chairman now owns 171,802 shares of the company’s stock, valued at approximately $83,724,268.66. This trade represents a 21.15 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Michael T. Smith sold 2,025 shares of the business’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $478.25, for a total value of $968,456.25. Following the completion of the sale, the director now directly owns 54,935 shares of the company’s stock, valued at approximately $26,272,663.75. This represents a 3.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 52,025 shares of company stock valued at $25,347,399 in the last ninety days. Corporate insiders own 2.14% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on TDY. Bank of America upgraded shares of Teledyne Technologies from a “neutral” rating to a “buy” rating and lifted their target price for the company from $450.00 to $550.00 in a report on Friday, November 8th. Needham & Company LLC upped their target price on Teledyne Technologies from $528.00 to $550.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. TD Cowen raised their target price on Teledyne Technologies from $450.00 to $500.00 and gave the company a “buy” rating in a report on Thursday, October 24th. StockNews.com upgraded Teledyne Technologies from a “hold” rating to a “buy” rating in a report on Wednesday, October 2nd. Finally, UBS Group initiated coverage on shares of Teledyne Technologies in a research note on Tuesday. They set a “buy” rating and a $585.00 price objective on the stock. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, Teledyne Technologies currently has an average rating of “Buy” and an average target price of $531.00.

Teledyne Technologies Trading Down 0.8 %

NYSE:TDY opened at $475.05 on Friday. Teledyne Technologies Incorporated has a one year low of $355.41 and a one year high of $492.00. The business’s 50-day simple moving average is $467.11 and its 200 day simple moving average is $429.19. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.35 and a current ratio of 2.00. The stock has a market cap of $22.14 billion, a price-to-earnings ratio of 24.02, a price-to-earnings-growth ratio of 3.29 and a beta of 1.01.

Teledyne Technologies (NYSE:TDY) last released its earnings results on Wednesday, October 23rd. The scientific and technical instruments company reported $5.10 EPS for the quarter, beating the consensus estimate of $4.97 by $0.13. The company had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.42 billion. Teledyne Technologies had a return on equity of 10.02% and a net margin of 16.88%. The business’s revenue was up 2.9% on a year-over-year basis. During the same period in the prior year, the business posted $5.05 EPS. As a group, sell-side analysts predict that Teledyne Technologies Incorporated will post 19.45 earnings per share for the current fiscal year.

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.