Venturi Wealth Management LLC Sells 42 Shares of Teledyne Technologies Incorporated (NYSE:TDY)

Venturi Wealth Management LLC reduced its position in Teledyne Technologies Incorporated (NYSE:TDY) by 2.4% during the fourth quarter, HoldingsChannel reports. The fund owned 1,712 shares of the scientific and technical instruments company’s stock after selling 42 shares during the quarter. Venturi Wealth Management LLC’s holdings in Teledyne Technologies were worth $795,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in TDY. State Street Corp increased its position in shares of Teledyne Technologies by 1.9% during the third quarter. State Street Corp now owns 2,040,896 shares of the scientific and technical instruments company’s stock valued at $893,219,000 after buying an additional 37,884 shares during the period. Janus Henderson Group PLC increased its position in shares of Teledyne Technologies by 0.6% during the third quarter. Janus Henderson Group PLC now owns 1,709,475 shares of the scientific and technical instruments company’s stock valued at $748,167,000 after buying an additional 9,368 shares during the period. Geode Capital Management LLC increased its position in shares of Teledyne Technologies by 2.4% during the third quarter. Geode Capital Management LLC now owns 1,192,019 shares of the scientific and technical instruments company’s stock valued at $520,335,000 after buying an additional 28,224 shares during the period. JPMorgan Chase & Co. increased its position in shares of Teledyne Technologies by 6.0% during the third quarter. JPMorgan Chase & Co. now owns 1,150,065 shares of the scientific and technical instruments company’s stock valued at $503,338,000 after buying an additional 64,617 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its position in shares of Teledyne Technologies by 10.5% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 318,712 shares of the scientific and technical instruments company’s stock valued at $145,974,000 after buying an additional 30,157 shares during the period. 91.58% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

Insiders Place Their Bets

In other Teledyne Technologies news, Director Michael T. Smith sold 2,025 shares of the company’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $478.25, for a total value of $968,456.25. Following the completion of the sale, the director now owns 54,935 shares of the company’s stock, valued at $26,272,663.75. This represents a 3.56 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO George C. Bobb III sold 6,308 shares of the company’s stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $507.77, for a total value of $3,203,013.16. Following the completion of the sale, the chief operating officer now directly owns 10,482 shares of the company’s stock, valued at approximately $5,322,445.14. This represents a 37.57 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 32,190 shares of company stock valued at $16,386,864 over the last quarter. 1.88% of the stock is owned by corporate insiders.

Teledyne Technologies Stock Up 1.5 %

Shares of NYSE TDY opened at $497.14 on Wednesday. Teledyne Technologies Incorporated has a 12 month low of $355.41 and a 12 month high of $522.50. The company has a current ratio of 2.33, a quick ratio of 1.61 and a debt-to-equity ratio of 0.28. The firm has a market capitalization of $23.17 billion, a price-to-earnings ratio of 28.85, a PEG ratio of 3.07 and a beta of 1.03. The business has a 50-day moving average of $483.38 and a 200-day moving average of $459.01.

Teledyne Technologies (NYSE:TDY) last issued its earnings results on Wednesday, January 22nd. The scientific and technical instruments company reported $5.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.23 by $0.29. The business 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%. Teledyne Technologies’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $5.44 earnings per share. Sell-side analysts expect 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.