Cannell & Spears LLC Sells 70 Shares of Teledyne Technologies Incorporated (NYSE:TDY)

Cannell & Spears LLC lessened its stake in Teledyne Technologies Incorporated (NYSE:TDY) by 0.7% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 9,654 shares of the scientific and technical instruments company’s stock after selling 70 shares during the quarter. Cannell & Spears LLC’s holdings in Teledyne Technologies were worth $4,481,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Wilmington Savings Fund Society FSB purchased a new stake in shares of Teledyne Technologies in the third quarter valued at $39,000. Millstone Evans Group LLC bought a new position in shares of Teledyne Technologies during the fourth quarter valued at approximately $42,000. Newbridge Financial Services Group Inc. bought a new stake in Teledyne Technologies during the 4th quarter valued at $46,000. Tortoise Investment Management LLC boosted its position in Teledyne Technologies by 63.2% during the fourth quarter. Tortoise Investment Management LLC now owns 124 shares of the scientific and technical instruments company’s stock valued at $58,000 after purchasing an additional 48 shares in the last quarter. Finally, Private Trust Co. NA grew its position in shares of Teledyne Technologies by 43.0% in the 4th 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 last quarter. Hedge funds and other institutional investors own 91.58% of the company’s stock.

Teledyne Technologies Stock Up 0.5 %

Shares of NYSE:TDY opened at $497.83 on Tuesday. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.33 and a quick ratio of 1.61. The firm has a market capitalization of $23.32 billion, a PE ratio of 28.89, a price-to-earnings-growth ratio of 3.14 and a beta of 1.03. The firm’s 50-day moving average is $501.52 and its two-hundred day moving average is $475.70. Teledyne Technologies Incorporated has a 1 year low of $355.41 and a 1 year high of $522.50.

Teledyne Technologies (NYSE:TDY) last posted its quarterly earnings results on Wednesday, January 22nd. The scientific and technical instruments company reported $5.52 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 analysts’ expectations of $1.45 billion. Teledyne Technologies had a net margin of 14.45% and a return on equity of 9.94%. The firm’s revenue was up 5.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $5.44 EPS. Analysts predict that Teledyne Technologies Incorporated will post 21.55 EPS for the current year.

Wall Street Analyst Weigh In

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

Insider Activity at Teledyne Technologies

In related news, COO George C. Bobb III sold 6,308 shares of the business’s stock in a transaction dated 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 sale, the chief operating officer now owns 10,482 shares of the company’s stock, valued at approximately $5,322,445.14. The trade was a 37.57 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Robert Mehrabian sold 5,768 shares of the company’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $518.22, for a total value of $2,989,092.96. Following the completion of the sale, the chairman now directly owns 144,553 shares in the company, valued at $74,910,255.66. This trade represents a 3.84 % 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 in the last 90 days. 1.50% 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.