Teledyne Technologies Incorporated (NYSE:TDY) Position Decreased by Magnetar Financial LLC

Magnetar Financial LLC cut its holdings in shares of Teledyne Technologies Incorporated (NYSE:TDY) by 93.4% in the 4th quarter, Holdings Channel reports. The firm owned 432 shares of the scientific and technical instruments company’s stock after selling 6,142 shares during the period. Magnetar Financial LLC’s holdings in Teledyne Technologies were worth $201,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Brooklyn Investment Group purchased a new position in shares of Teledyne Technologies in the third quarter worth approximately $32,000. Wilmington Savings Fund Society FSB purchased a new position in Teledyne Technologies during the 3rd quarter worth approximately $39,000. Newbridge Financial Services Group Inc. acquired a new stake in Teledyne Technologies during the 4th quarter valued at $46,000. Tortoise Investment Management LLC boosted its position in shares of Teledyne Technologies by 63.2% in the fourth quarter. Tortoise Investment Management LLC now owns 124 shares of the scientific and technical instruments company’s stock worth $58,000 after buying an additional 48 shares during the period. Finally, Private Trust Co. NA boosted its position in shares of Teledyne Technologies by 43.0% in the fourth quarter. Private Trust Co. NA now owns 173 shares of the scientific and technical instruments company’s stock worth $80,000 after buying an additional 52 shares during the period. 91.58% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently issued reports on TDY. Needham & Company LLC reissued a “buy” rating and issued a $585.00 price objective on shares of Teledyne Technologies in a research note on Wednesday, February 5th. UBS Group began coverage on shares of Teledyne Technologies in a research report on Tuesday, December 10th. They issued a “buy” rating and a $585.00 price target for the company. Finally, Bank of America raised their price target on shares of Teledyne Technologies from $550.00 to $600.00 and gave the stock a “buy” rating in a report on Monday, March 17th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $548.00.

Teledyne Technologies Stock Performance

Shares of NYSE TDY opened at $502.73 on Monday. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.33 and a quick ratio of 1.61. Teledyne Technologies Incorporated has a one year low of $355.41 and a one year high of $522.50. The business’s 50-day moving average price is $497.26 and its two-hundred day moving average price is $472.38. The company has a market capitalization of $23.55 billion, a P/E ratio of 29.18, a price-to-earnings-growth ratio of 3.14 and a beta of 1.03.

Teledyne Technologies (NYSE:TDY) last announced its quarterly earnings results on Wednesday, January 22nd. The scientific and technical instruments company reported $5.52 EPS for the quarter, beating the consensus estimate of $5.23 by $0.29. The business had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.45 billion. Teledyne Technologies had a return on equity of 9.94% and a net margin of 14.45%. The firm’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $5.44 EPS. Analysts anticipate that Teledyne Technologies Incorporated will post 21.55 earnings per share for the current fiscal year.

Insider Transactions at Teledyne Technologies

In other Teledyne Technologies news, COO George C. Bobb III sold 6,308 shares of the stock in a transaction on Friday, January 24th. The shares were sold at an average price of $507.77, for a total transaction of $3,203,013.16. Following the transaction, the chief operating officer now directly owns 10,482 shares of the company’s stock, valued at $5,322,445.14. This represents a 37.57 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, 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 transaction, the vice president now owns 4,962 shares in the company, valued at approximately $2,522,383.08. This trade represents a 53.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 34,571 shares of company stock worth $17,709,721 in the last 90 days. 2.14% of the stock is owned by insiders.

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.