Bessemer Group Inc. Trims Stock Holdings in Teledyne Technologies Incorporated (NYSE:TDY)

Bessemer Group Inc. lessened its stake in shares of Teledyne Technologies Incorporated (NYSE:TDY) by 4.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,874 shares of the scientific and technical instruments company’s stock after selling 82 shares during the quarter. Bessemer Group Inc.’s holdings in Teledyne Technologies were worth $869,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. DRW Securities LLC acquired a new position in shares of Teledyne Technologies in the 4th quarter worth approximately $221,000. TRUE Private Wealth Advisors acquired a new position in Teledyne Technologies during the fourth quarter worth $206,000. APG Asset Management US Inc. purchased a new position in shares of Teledyne Technologies during the fourth quarter worth $684,000. Raymond James Financial Inc. acquired a new stake in shares of Teledyne Technologies in the fourth quarter valued at $53,304,000. Finally, Martingale Asset Management L P purchased a new stake in shares of Teledyne Technologies in the 4th quarter valued at $2,863,000. 91.58% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Teledyne Technologies news, Vice Chairman Jason Vanwees sold 3,700 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $520.06, for a total transaction of $1,924,222.00. Following the sale, the insider now owns 51,324 shares of the company’s stock, valued at approximately $26,691,559.44. This trade represents a 6.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Cynthia Y. Belak sold 5,745 shares of the business’s stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $508.34, for a total transaction of $2,920,413.30. Following the sale, the vice president now owns 4,962 shares of the company’s stock, valued at $2,522,383.08. This represents a 53.66 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 34,571 shares of company stock valued at $17,709,721 in the last ninety days. Insiders own 1.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on TDY shares. StockNews.com cut Teledyne Technologies from a “buy” rating to a “hold” rating in a report on Wednesday, April 2nd. Bank of America lifted 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 reiterated a “buy” rating and set a $585.00 target price on shares of Teledyne Technologies in a report on Wednesday, February 5th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $548.00.

Teledyne Technologies Stock Up 0.5 %

Shares of NYSE:TDY opened at $467.29 on Tuesday. Teledyne Technologies Incorporated has a fifty-two week low of $355.41 and a fifty-two week high of $522.50. The firm’s 50 day moving average price is $490.03 and its 200 day moving average price is $477.88. The company has a quick ratio of 1.61, a current ratio of 2.33 and a debt-to-equity ratio of 0.28. The stock has a market cap of $21.89 billion, a price-to-earnings ratio of 27.12, a price-to-earnings-growth ratio of 3.14 and a beta of 1.03.

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