Teledyne Technologies Incorporated (NYSE:TDY) Shares Sold by Simmons Bank

Simmons Bank cut its stake in shares of Teledyne Technologies Incorporated (NYSE:TDY) by 7.6% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 1,630 shares of the scientific and technical instruments company’s stock after selling 135 shares during the period. Simmons Bank’s holdings in Teledyne Technologies were worth $727,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. raised its position in shares of Teledyne Technologies by 3.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 270,366 shares of the scientific and technical instruments company’s stock worth $120,662,000 after purchasing an additional 8,134 shares during the last quarter. Machina Capital S.A.S. acquired a new position in shares of Teledyne Technologies during the fourth quarter valued at approximately $306,000. Private Advisor Group LLC purchased a new position in shares of Teledyne Technologies in the fourth quarter valued at approximately $214,000. National Bank of Canada FI boosted its stake in shares of Teledyne Technologies by 8.0% in the fourth quarter. National Bank of Canada FI now owns 12,260 shares of the scientific and technical instruments company’s stock worth $5,374,000 after acquiring an additional 910 shares during the last quarter. Finally, Vestmark Advisory Solutions Inc. increased its position in shares of Teledyne Technologies by 9.3% during the fourth quarter. Vestmark Advisory Solutions Inc. now owns 7,221 shares of the scientific and technical instruments company’s stock worth $3,222,000 after purchasing an additional 613 shares in the last quarter. 91.58% of the stock is owned by hedge funds and other institutional investors.

Teledyne Technologies Trading Up 0.1 %

TDY stock traded up $0.24 during trading on Wednesday, reaching $393.27. 129,379 shares of the stock were exchanged, compared to its average volume of 240,101. The company has a current ratio of 1.81, a quick ratio of 1.29 and a debt-to-equity ratio of 0.28. The firm has a market capitalization of $18.63 billion, a price-to-earnings ratio of 21.26, a P/E/G ratio of 2.66 and a beta of 1.04. The business has a 50 day moving average price of $410.36 and a 200-day moving average price of $413.66. Teledyne Technologies Incorporated has a 1 year low of $355.41 and a 1 year high of $448.19.

Teledyne Technologies (NYSE:TDY) last released its quarterly earnings results on Wednesday, April 24th. The scientific and technical instruments company reported $4.55 EPS for the quarter, missing the consensus estimate of $4.63 by ($0.08). Teledyne Technologies had a net margin of 15.81% and a return on equity of 10.54%. The firm had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.39 billion. During the same period in the previous year, the firm posted $4.53 EPS. The firm’s quarterly revenue was down 2.4% compared to the same quarter last year. On average, research analysts predict that Teledyne Technologies Incorporated will post 19.34 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. StockNews.com lowered Teledyne Technologies from a “buy” rating to a “hold” rating in a report on Thursday, April 25th. Bank of America lowered shares of Teledyne Technologies from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $490.00 to $400.00 in a research report on Friday, April 26th. TD Cowen cut their price objective on shares of Teledyne Technologies from $475.00 to $450.00 and set a “buy” rating for the company in a report on Thursday, April 25th. Finally, Needham & Company LLC lowered their target price on Teledyne Technologies from $510.00 to $455.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $470.83.

Insider Activity

In related news, Director Simon M. Lorne sold 2,200 shares of the firm’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $426.70, for a total transaction of $938,740.00. Following the completion of the sale, the director now directly owns 67,288 shares of the company’s stock, valued at approximately $28,711,789.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.88% of the company’s stock.

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.