Teledyne Technologies Incorporated (NYSE:TDY) Shares Sold by Covenant Partners LLC

Covenant Partners LLC cut its position in Teledyne Technologies Incorporated (NYSE:TDY) by 6.4% during the fourth quarter, HoldingsChannel.com reports. The fund owned 485 shares of the scientific and technical instruments company’s stock after selling 33 shares during the period. Covenant Partners LLC’s holdings in Teledyne Technologies were worth $225,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Quarry LP acquired a new position in Teledyne Technologies during the fourth quarter worth $28,000. Hurley Capital LLC acquired a new stake in Teledyne Technologies during the fourth quarter worth about $33,000. Ancora Advisors LLC raised its stake in Teledyne Technologies by 192.3% during the fourth quarter. Ancora Advisors LLC now owns 76 shares of the scientific and technical instruments company’s stock worth $35,000 after purchasing an additional 50 shares during the period. Wilmington Savings Fund Society FSB acquired a new position in Teledyne Technologies in the 3rd quarter valued at about $39,000. Finally, Millstone Evans Group LLC purchased a new stake in shares of Teledyne Technologies in the 4th quarter valued at approximately $42,000. Hedge funds and other institutional investors own 91.58% of the company’s stock.

Insider Buying and Selling

In related news, Vice Chairman Jason Vanwees sold 3,700 shares of the company’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 transaction, the insider now owns 51,324 shares of the company’s stock, valued at approximately $26,691,559.44. This represents a 6.72 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Chairman Robert Mehrabian sold 5,007 shares of the company’s stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $510.33, for a total transaction of $2,555,222.31. Following the transaction, the chairman now directly owns 144,553 shares of the company’s stock, valued at approximately $73,769,732.49. This represents a 3.35 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 9,413 shares of company stock worth $4,846,536 in the last quarter. Company insiders own 1.50% of the company’s stock.

Teledyne Technologies Stock Down 0.1 %

TDY opened at $478.34 on Tuesday. The company has a market cap of $22.41 billion, a PE ratio of 27.76, a P/E/G ratio of 3.14 and a beta of 1.06. Teledyne Technologies Incorporated has a 52 week low of $380.63 and a 52 week high of $522.50. The business has a 50 day moving average price of $478.80 and a two-hundred day moving average price of $479.82. The company has a quick ratio of 1.61, a current ratio of 2.33 and a debt-to-equity ratio of 0.28.

Teledyne Technologies (NYSE:TDY) last issued its earnings results on Wednesday, April 23rd. The scientific and technical instruments company reported $4.95 earnings per share for the quarter, topping the consensus estimate of $4.92 by $0.03. Teledyne Technologies had a net margin of 14.45% and a return on equity of 9.94%. The company had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.44 billion. During the same period in the prior year, the business posted $4.55 earnings per share. The firm’s revenue for the quarter was up 7.4% compared to the same quarter last year. As a group, research analysts anticipate that Teledyne Technologies Incorporated will post 21.55 EPS for the current year.

Analyst Ratings Changes

TDY has been the subject of several research analyst reports. Needham & Company LLC lowered their target price on shares of Teledyne Technologies from $585.00 to $550.00 and set a “buy” rating for the company in a research note on Thursday, April 24th. TD Securities reaffirmed a “buy” rating and issued a $550.00 price objective on shares of Teledyne Technologies in a research note on Thursday, April 24th. Bank of America increased 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. Finally, StockNews.com cut shares of Teledyne Technologies from a “buy” rating to a “hold” rating in a research report on Monday, April 28th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, Teledyne Technologies has an average rating of “Moderate Buy” and a consensus target price of $542.50.

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.