LPL Financial LLC lowered its stake in Teledyne Technologies Incorporated (NYSE:TDY) by 61.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 4,235 shares of the scientific and technical instruments company’s stock after selling 6,704 shares during the quarter. LPL Financial LLC’s holdings in Teledyne Technologies were worth $877,000 as of its most recent SEC filing.
Other large investors also recently added to or reduced their stakes in the company. Select Equity Group L.P. acquired a new position in Teledyne Technologies during the third quarter worth approximately $81,211,000. AQR Capital Management LLC boosted its holdings in shares of Teledyne Technologies by 107.7% during the third quarter. AQR Capital Management LLC now owns 550,136 shares of the scientific and technical instruments company’s stock worth $135,708,000 after acquiring an additional 285,208 shares during the period. Vanguard Group Inc boosted its holdings in shares of Teledyne Technologies by 3.3% during the third quarter. Vanguard Group Inc now owns 3,054,919 shares of the scientific and technical instruments company’s stock worth $753,588,000 after acquiring an additional 96,848 shares during the period. Prudential Financial Inc. boosted its holdings in shares of Teledyne Technologies by 108.1% during the third quarter. Prudential Financial Inc. now owns 113,089 shares of the scientific and technical instruments company’s stock worth $27,896,000 after acquiring an additional 58,749 shares during the period. Finally, William Blair Investment Management LLC boosted its holdings in shares of Teledyne Technologies by 5.7% during the third quarter. William Blair Investment Management LLC now owns 797,164 shares of the scientific and technical instruments company’s stock worth $196,644,000 after acquiring an additional 43,167 shares during the period. 84.74% of the stock is currently owned by institutional investors and hedge funds.
Shares of TDY opened at $240.78 on Wednesday. Teledyne Technologies Incorporated has a one year low of $177.68 and a one year high of $250.87. The company has a market cap of $8.58 billion, a price-to-earnings ratio of 27.11, a PEG ratio of 3.38 and a beta of 1.10. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.55 and a quick ratio of 1.04.
Teledyne Technologies (NYSE:TDY) last announced its quarterly earnings data on Wednesday, January 23rd. The scientific and technical instruments company reported $2.45 EPS for the quarter, beating the consensus estimate of $2.18 by $0.27. The business had revenue of $748.40 million during the quarter, compared to the consensus estimate of $728.04 million. Teledyne Technologies had a net margin of 11.50% and a return on equity of 14.97%. The company’s revenue was up 6.2% on a year-over-year basis. During the same period in the previous year, the business earned $1.82 earnings per share. On average, sell-side analysts anticipate that Teledyne Technologies Incorporated will post 9.35 earnings per share for the current fiscal year.
A number of brokerages have recently issued reports on TDY. Cowen began coverage on Teledyne Technologies in a report on Tuesday. They set an “outperform” rating and a $265.00 price objective for the company. Zacks Investment Research cut Teledyne Technologies from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 10th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $248.00 price target (up from $240.00) on shares of Teledyne Technologies in a research note on Friday, March 15th.
In related news, VP George C. Bobb III sold 6,000 shares of the stock in a transaction on Monday, February 4th. The stock was sold at an average price of $225.00, for a total value of $1,350,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kenneth C. Dahlberg sold 6,106 shares of the company’s stock in a transaction on Friday, January 25th. The shares were sold at an average price of $227.16, for a total transaction of $1,387,038.96. Following the sale, the director now directly owns 12,834 shares in the company, valued at approximately $2,915,371.44. The disclosure for this sale can be found here. Insiders have sold 41,003 shares of company stock valued at $9,212,822 over the last quarter. Company insiders own 3.19% of the company’s stock.
About Teledyne Technologies
Teledyne Technologies Incorporated provides instrumentation, digital imaging, aerospace and defense electronics, and engineered systems in the United States, the United Kingdom, Denmark, Canada, France, and the Netherlands. 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 deployed in mission critical and harsh environments.
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