Teledyne Technologies Incorporated (NYSE:TDY) Shares Sold by Magnetar Financial LLC

Magnetar Financial LLC decreased its holdings in shares of Teledyne Technologies Incorporated (NYSE:TDY) by 93.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. 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.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in TDY. Teacher Retirement System of Texas acquired a new position in Teledyne Technologies during the fourth quarter worth $203,000. Royal London Asset Management Ltd. boosted its position in shares of Teledyne Technologies by 10.6% during the 4th quarter. Royal London Asset Management Ltd. now owns 24,274 shares of the scientific and technical instruments company’s stock worth $11,266,000 after purchasing an additional 2,332 shares in the last quarter. Harvest Fund Management Co. Ltd acquired a new position in shares of Teledyne Technologies during the 4th quarter worth $284,000. Generali Asset Management SPA SGR purchased a new position in shares of Teledyne Technologies in the 4th quarter valued at about $102,000. Finally, Thrivent Financial for Lutherans lifted its stake in shares of Teledyne Technologies by 122.5% in the fourth quarter. Thrivent Financial for Lutherans now owns 12,805 shares of the scientific and technical instruments company’s stock valued at $5,943,000 after purchasing an additional 7,049 shares during the period. Institutional investors and hedge funds own 91.58% of the company’s stock.

Teledyne Technologies Price Performance

TDY stock opened at $502.73 on Monday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.61 and a current ratio of 2.33. The stock’s 50 day moving average price is $497.26 and its 200 day moving average price is $472.38. The firm has a market cap of $23.55 billion, a P/E ratio of 29.18, a PEG ratio of 3.14 and a beta of 1.03. 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, beating 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 return on equity of 9.94% and a net margin of 14.45%. The firm’s revenue was up 5.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $5.44 EPS. On average, sell-side analysts expect that Teledyne Technologies Incorporated will post 21.55 earnings per share for the current fiscal year.

Insider Activity at Teledyne Technologies

In related news, Vice Chairman Jason Vanwees sold 3,700 shares of the business’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $520.06, for a total value of $1,924,222.00. Following the transaction, the insider now owns 51,324 shares in the company, valued at approximately $26,691,559.44. The trade was a 6.72 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO George C. Bobb III sold 6,308 shares of the stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $507.77, for a total value of $3,203,013.16. Following the transaction, the chief operating officer now owns 10,482 shares of the company’s stock, valued at approximately $5,322,445.14. This trade represents a 37.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 34,571 shares of company stock worth $17,709,721. Company insiders own 2.14% of the company’s stock.

Wall Street Analyst Weigh In

TDY has been the topic of several recent analyst reports. Bank of America upped their target price on shares of Teledyne Technologies from $550.00 to $600.00 and gave the stock a “buy” rating in a research report on Monday, March 17th. UBS Group began coverage on Teledyne Technologies in a report on Tuesday, December 10th. They issued a “buy” rating and a $585.00 price target on the stock. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $585.00 price objective on shares of Teledyne Technologies in a report on Wednesday, February 5th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $548.00.

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.