Simon Quick Advisors LLC Reduces Stock Position in Teledyne Technologies Incorporated (NYSE:TDY)

Simon Quick Advisors LLC decreased its position in Teledyne Technologies Incorporated (NYSE:TDY) by 15.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 950 shares of the scientific and technical instruments company’s stock after selling 178 shares during the quarter. Simon Quick Advisors LLC’s holdings in Teledyne Technologies were worth $441,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. State Street Corp raised its position in shares of Teledyne Technologies by 1.9% in the third quarter. State Street Corp now owns 2,040,896 shares of the scientific and technical instruments company’s stock valued at $893,219,000 after buying an additional 37,884 shares during the last quarter. Janus Henderson Group PLC grew its stake in Teledyne Technologies by 0.6% in the 3rd quarter. Janus Henderson Group PLC now owns 1,709,475 shares of the scientific and technical instruments company’s stock worth $748,167,000 after acquiring an additional 9,368 shares during the period. Geode Capital Management LLC grew its stake in Teledyne Technologies by 2.4% in the 3rd quarter. Geode Capital Management LLC now owns 1,192,019 shares of the scientific and technical instruments company’s stock worth $520,335,000 after acquiring an additional 28,224 shares during the period. JPMorgan Chase & Co. raised its holdings in Teledyne Technologies by 6.0% in the 3rd 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 acquiring an additional 64,617 shares during the last quarter. Finally, Earnest Partners LLC lifted its stake in shares of Teledyne Technologies by 3.5% during the 2nd quarter. Earnest Partners LLC now owns 398,642 shares of the scientific and technical instruments company’s stock worth $154,665,000 after purchasing an additional 13,576 shares during the period. 91.58% of the stock is currently owned by hedge funds and other institutional investors.

Teledyne Technologies Stock Up 0.7 %

Shares of NYSE:TDY opened at $515.10 on Friday. Teledyne Technologies Incorporated has a 1 year low of $355.41 and a 1 year high of $518.85. The stock has a 50-day simple moving average of $472.07 and a 200-day simple moving average of $445.49. 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 capitalization of $24.00 billion, a P/E ratio of 26.04, a PEG ratio of 3.00 and a beta of 1.01.

Teledyne Technologies (NYSE:TDY) last released its quarterly earnings data on Wednesday, January 22nd. The scientific and technical instruments company reported $5.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.23 by $0.29. The company had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1,451,400 billion. Teledyne Technologies had a net margin of 16.88% and a return on equity of 10.02%. The business’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $5.44 earnings per share. Equities analysts forecast that Teledyne Technologies Incorporated will post 19.45 earnings per share for the current year.

Insiders Place Their Bets

In other news, Chairman Robert Mehrabian sold 46,075 shares of Teledyne Technologies stock in a transaction that occurred on 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 sale, the chairman now owns 171,802 shares in the company, valued at $83,724,268.66. This trade represents a 21.15 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Vice Chairman Jason Vanwees sold 1,500 shares of the company’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $488.71, for a total transaction of $733,065.00. Following the completion of the transaction, the insider now owns 2,900 shares of the company’s stock, valued at $1,417,259. This trade represents a 34.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 53,525 shares of company stock worth $26,080,464 over the last quarter. 2.14% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on TDY shares. StockNews.com upgraded Teledyne Technologies from a “hold” rating to a “buy” rating in a research note on Wednesday, October 2nd. TD Cowen upped their price objective on shares of Teledyne Technologies from $450.00 to $500.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Needham & Company LLC raised their target price on shares of Teledyne Technologies from $528.00 to $550.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. UBS Group initiated coverage on shares of Teledyne Technologies in a research report on Tuesday, December 10th. They set a “buy” rating and a $585.00 price target for the company. Finally, Bank of America raised shares of Teledyne Technologies from a “neutral” rating to a “buy” rating and increased their price target for the stock from $450.00 to $550.00 in a research note on Friday, November 8th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $531.00.

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.