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

Cannell & Spears LLC lowered its stake in Teledyne Technologies Incorporated (NYSE:TDY) by 0.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. 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.

Several other institutional investors have also added to or reduced their stakes in TDY. Alliancebernstein L.P. raised its position in Teledyne Technologies by 17.8% during the fourth quarter. Alliancebernstein L.P. now owns 63,580 shares of the scientific and technical instruments company’s stock worth $29,509,000 after acquiring an additional 9,594 shares in the last quarter. Edmond DE Rothschild Holding S.A. increased its stake in Teledyne Technologies by 12.2% during the 4th quarter. Edmond DE Rothschild Holding S.A. now owns 165,190 shares of the scientific and technical instruments company’s stock worth $76,670,000 after acquiring an additional 17,909 shares during the period. Wellington Management Group LLP increased its position in shares of Teledyne Technologies by 5.8% in the fourth quarter. Wellington Management Group LLP now owns 7,725 shares of the scientific and technical instruments company’s stock worth $3,585,000 after purchasing an additional 424 shares during the period. O Shaughnessy Asset Management LLC raised its position in shares of Teledyne Technologies by 118.3% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 1,559 shares of the scientific and technical instruments company’s stock valued at $724,000 after buying an additional 845 shares in the last quarter. Finally, Schroder Investment Management Group raised its position in Teledyne Technologies by 14.3% during the fourth quarter. Schroder Investment Management Group now owns 73,559 shares of the scientific and technical instruments company’s stock valued at $34,222,000 after purchasing an additional 9,190 shares in the last quarter. 91.58% of the stock is owned by institutional investors.

Insider Buying and Selling 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 $5,322,445.14. The trade was a 37.57 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Chairman Robert Mehrabian sold 5,768 shares of the stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $518.22, for a total transaction of $2,989,092.96. Following 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 34,571 shares of company stock worth $17,709,721 over the last three months. Company insiders own 1.50% of the company’s stock.

Teledyne Technologies Trading Up 0.5 %

Shares of TDY stock opened at $497.83 on Tuesday. Teledyne Technologies Incorporated has a 1 year low of $355.41 and a 1 year high of $522.50. The company’s fifty day simple moving average is $501.52 and its two-hundred day simple moving average is $475.70. 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 stock has a market capitalization of $23.32 billion, a price-to-earnings ratio of 28.89, a PEG ratio of 3.14 and a beta of 1.03.

Teledyne Technologies (NYSE:TDY) last announced its earnings results on Wednesday, January 22nd. The scientific and technical instruments company reported $5.52 earnings per share for the quarter, topping 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 return on equity of 9.94% and a net margin of 14.45%. The company’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same period in the prior year, the company earned $5.44 EPS. As a group, analysts anticipate that Teledyne Technologies Incorporated will post 21.55 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have commented on TDY. Bank of America boosted their target price on Teledyne Technologies from $550.00 to $600.00 and gave the stock a “buy” rating in a research note on Monday, March 17th. Needham & Company LLC reiterated a “buy” rating and issued a $585.00 price target on shares of Teledyne Technologies in a research report on Wednesday, February 5th. Finally, UBS Group assumed coverage on shares of Teledyne Technologies in a research 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, the stock currently has a consensus rating of “Buy” and an average target price of $548.00.

Teledyne Technologies Company 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.