Teledyne Technologies Incorporated (NYSE:TDY) Stock Position Trimmed by Prudential Financial Inc.

Prudential Financial Inc. lowered its stake in Teledyne Technologies Incorporated (NYSE:TDY) by 16.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 25,339 shares of the scientific and technical instruments company’s stock after selling 5,116 shares during the quarter. Prudential Financial Inc. owned about 0.05% of Teledyne Technologies worth $11,866,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in Teledyne Technologies by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 5,612,484 shares of the scientific and technical instruments company’s stock worth $2,604,922,000 after purchasing an additional 46,479 shares during the period. LPL Financial LLC raised its holdings in shares of Teledyne Technologies by 8.5% in the fourth quarter. LPL Financial LLC now owns 28,366 shares of the scientific and technical instruments company’s stock valued at $13,166,000 after buying an additional 2,224 shares during the last quarter. KLP Kapitalforvaltning AS bought a new stake in shares of Teledyne Technologies during the fourth quarter valued at approximately $11,529,000. Sei Investments Co. raised its holdings in Teledyne Technologies by 5.3% during the 4th quarter. Sei Investments Co. now owns 383,113 shares of the scientific and technical instruments company’s stock worth $177,814,000 after purchasing an additional 19,421 shares during the last quarter. Finally, American Century Companies Inc. lifted its holdings in Teledyne Technologies by 1.0% in the fourth quarter. American Century Companies Inc. now owns 3,195 shares of the scientific and technical instruments company’s stock valued at $1,483,000 after buying an additional 32 shares during the period. 91.58% of the stock is currently owned by institutional investors and hedge funds.

Teledyne Technologies Stock Down 2.4 %

Shares of NYSE TDY opened at $494.78 on Friday. The company has a quick ratio of 1.61, a current ratio of 2.33 and a debt-to-equity ratio of 0.28. The company has a market cap of $23.17 billion, a P/E ratio of 28.72, a P/E/G ratio of 3.14 and a beta of 1.03. Teledyne Technologies Incorporated has a 52 week low of $355.41 and a 52 week high of $522.50. The business has a 50-day simple moving average of $501.03 and a two-hundred day simple moving average of $474.53.

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 (EPS) for the quarter, beating 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 net margin of 14.45% and a return on equity of 9.94%. Teledyne Technologies’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same period in the previous year, the business posted $5.44 earnings per share. Research analysts anticipate that Teledyne Technologies Incorporated will post 21.55 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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

Insiders Place Their Bets

In other news, COO George C. Bobb III sold 6,308 shares of the company’s stock in a transaction dated 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 sale, the chief operating officer now directly owns 10,482 shares of the company’s stock, valued at $5,322,445.14. This represents a 37.57 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Robert Mehrabian sold 5,768 shares of Teledyne Technologies stock in a transaction dated Friday, January 31st. The stock was 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 of the company’s stock, valued at approximately $74,910,255.66. This represents a 3.84 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 34,571 shares of company stock worth $17,709,721. 1.50% of the stock is currently owned by company insiders.

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.