Yacktman Asset Management LP Sells 3,000 Shares of Teledyne Technologies Incorporated (NYSE:TDY)

Yacktman Asset Management LP lessened its stake in Teledyne Technologies Incorporated (NYSE:TDY) by 40.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 4,500 shares of the scientific and technical instruments company’s stock after selling 3,000 shares during the period. Yacktman Asset Management LP’s holdings in Teledyne Technologies were worth $2,089,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in TDY. Stratos Wealth Partners LTD. boosted its position in shares of Teledyne Technologies by 4.4% during the fourth quarter. Stratos Wealth Partners LTD. now owns 500 shares of the scientific and technical instruments company’s stock valued at $232,000 after buying an additional 21 shares during the last quarter. Metis Global Partners LLC lifted its stake in Teledyne Technologies by 1.6% during the 3rd quarter. Metis Global Partners LLC now owns 1,514 shares of the scientific and technical instruments company’s stock valued at $663,000 after acquiring an additional 24 shares in the last quarter. Crumly & Associates Inc. boosted its holdings in Teledyne Technologies by 3.8% during the 3rd quarter. Crumly & Associates Inc. now owns 677 shares of the scientific and technical instruments company’s stock worth $296,000 after acquiring an additional 25 shares during the last quarter. Raymond James Trust N.A. grew its stake in shares of Teledyne Technologies by 4.8% in the 3rd quarter. Raymond James Trust N.A. now owns 550 shares of the scientific and technical instruments company’s stock worth $241,000 after acquiring an additional 25 shares in the last quarter. Finally, Bleakley Financial Group LLC raised its holdings in shares of Teledyne Technologies by 4.0% in the third quarter. Bleakley Financial Group LLC now owns 681 shares of the scientific and technical instruments company’s stock valued at $298,000 after purchasing an additional 26 shares during the last quarter. 91.58% of the stock is currently owned by institutional investors.

Teledyne Technologies Stock Performance

NYSE:TDY opened at $511.38 on Tuesday. The company has a market capitalization of $23.83 billion, a P/E ratio of 29.68, a P/E/G ratio of 3.19 and a beta of 1.03. The business has a fifty day simple moving average of $480.48 and a two-hundred day simple moving average of $455.64. 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 1 year low of $355.41 and a 1 year high of $522.50.

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, topping the consensus estimate of $5.23 by $0.29. The company had revenue of $1.50 billion during 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 firm’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same quarter last year, the firm posted $5.44 EPS. On average, analysts expect that Teledyne Technologies Incorporated will post 21.59 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Needham & Company LLC restated a “buy” rating and set a $585.00 price target on shares of Teledyne Technologies in a report on Wednesday, February 5th. Bank of America raised Teledyne Technologies from a “neutral” rating to a “buy” rating and upped their target price for the company from $450.00 to $550.00 in a report on Friday, November 8th. TD Cowen lifted their price target on Teledyne Technologies from $450.00 to $500.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Finally, UBS Group initiated coverage on Teledyne Technologies in a research report on Tuesday, December 10th. They issued a “buy” rating and a $585.00 price objective on the stock. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $538.00.

Insider Activity

In related news, Chairman Robert Mehrabian sold 5,768 shares of Teledyne Technologies stock in a transaction that occurred 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 transaction, the chairman now directly owns 144,553 shares in the company, valued at approximately $74,910,255.66. The trade was a 3.84 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Cynthia Y. Belak sold 5,745 shares of the stock in a transaction on Friday, January 24th. The stock was sold at an average price of $508.34, for a total value of $2,920,413.30. Following the sale, the vice president now owns 4,962 shares in the company, valued at approximately $2,522,383.08. This represents a 53.66 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 32,190 shares of company stock valued at $16,386,864 over the last quarter. Company insiders own 2.14% of the company’s stock.

About Teledyne Technologies

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.