Clearbridge Investments LLC Sells 154 Shares of Teledyne Technologies Incorporated (NYSE:TDY)

Clearbridge Investments LLC trimmed its holdings in shares of Teledyne Technologies Incorporated (NYSE:TDY) by 0.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 275,401 shares of the scientific and technical instruments company’s stock after selling 154 shares during the period. Clearbridge Investments LLC owned 0.59% of Teledyne Technologies worth $127,822,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Brooklyn Investment Group bought a new stake in shares of Teledyne Technologies in the 3rd quarter valued at about $32,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Teledyne Technologies during the third quarter worth $39,000. Millstone Evans Group LLC bought a new stake in shares of Teledyne Technologies during the fourth quarter worth $42,000. Newbridge Financial Services Group Inc. acquired a new stake in shares of Teledyne Technologies during the fourth quarter worth $46,000. Finally, Tortoise Investment Management LLC lifted its position in Teledyne Technologies by 63.2% in the 4th quarter. Tortoise Investment Management LLC now owns 124 shares of the scientific and technical instruments company’s stock valued at $58,000 after acquiring an additional 48 shares in the last quarter. 91.58% of the stock is owned by institutional investors.

Insider Buying and Selling at Teledyne Technologies

In related news, VP Cynthia Y. Belak sold 5,745 shares of the firm’s stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $508.34, for a total value of $2,920,413.30. Following the completion of the sale, the vice president now directly owns 4,962 shares in the company, valued at approximately $2,522,383.08. This trade represents a 53.66 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Vice Chairman Jason Vanwees sold 3,700 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $520.06, for a total value of $1,924,222.00. Following the transaction, the insider now directly owns 51,324 shares in the company, valued at approximately $26,691,559.44. This trade represents a 6.72 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 34,571 shares of company stock worth $17,709,721 over the last quarter. 1.50% of the stock is currently owned by insiders.

Analysts Set New Price Targets

TDY has been the topic of several recent research reports. UBS Group initiated coverage on Teledyne Technologies in a research note on Tuesday, December 10th. They issued a “buy” rating and a $585.00 price target on the stock. Needham & Company LLC reissued a “buy” rating and issued a $585.00 target price on shares of Teledyne Technologies in a research report on Wednesday, February 5th. Finally, Bank of America upped their price target on Teledyne Technologies from $550.00 to $600.00 and gave the stock a “buy” rating in a research report on Monday, March 17th. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $548.00.

Teledyne Technologies Price Performance

NYSE:TDY opened at $494.78 on Monday. Teledyne Technologies Incorporated has a 52-week low of $355.41 and a 52-week high of $522.50. The company has a market cap of $23.17 billion, a P/E ratio of 28.72, a P/E/G ratio of 3.14 and a beta of 1.03. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.61 and a current ratio of 2.33. The stock’s 50-day simple moving average is $501.03 and its 200 day simple moving average is $475.20.

Teledyne Technologies (NYSE:TDY) last posted its quarterly earnings results on Wednesday, January 22nd. The scientific and technical instruments company reported $5.52 earnings per share for the quarter, topping the consensus estimate of $5.23 by $0.29. The firm had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.45 billion. Teledyne Technologies had a return on equity of 9.94% and a net margin of 14.45%. The business’s quarterly revenue was up 5.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $5.44 EPS. As a group, sell-side analysts forecast that Teledyne Technologies Incorporated will post 21.55 EPS 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 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.