World Asset Management Inc cut its stake in Teledyne Technologies Incorporated (NYSE:TDY) by 48.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 750 shares of the scientific and technical instruments company’s stock after selling 701 shares during the period. World Asset Management Inc’s holdings in Teledyne Technologies were worth $233,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of TDY. Allred Capital Management LLC purchased a new position in shares of Teledyne Technologies during the first quarter valued at approximately $28,000. Twin Tree Management LP purchased a new position in shares of Teledyne Technologies during the first quarter valued at approximately $29,000. Creative Financial Designs Inc. ADV purchased a new position in shares of Teledyne Technologies during the second quarter valued at approximately $31,000. Cornerstone Advisors Inc. lifted its holdings in shares of Teledyne Technologies by 40.0% during the first quarter. Cornerstone Advisors Inc. now owns 126 shares of the scientific and technical instruments company’s stock valued at $37,000 after purchasing an additional 36 shares during the last quarter. Finally, Exchange Traded Concepts LLC lifted its holdings in shares of Teledyne Technologies by 552.4% during the first quarter. Exchange Traded Concepts LLC now owns 137 shares of the scientific and technical instruments company’s stock valued at $41,000 after purchasing an additional 116 shares during the last quarter. Institutional investors and hedge funds own 86.19% of the company’s stock.

Shares of NYSE TDY opened at $306.77 on Friday. Teledyne Technologies Incorporated has a twelve month low of $195.34 and a twelve month high of $398.99. The firm has a market cap of $11.25 billion, a P/E ratio of 29.08 and a beta of 1.03. The company has a 50 day moving average of $314.01 and a 200 day moving average of $331.68. The company has a quick ratio of 1.45, a current ratio of 1.97 and a debt-to-equity ratio of 0.30.

Teledyne Technologies (NYSE:TDY) last announced its quarterly earnings data on Wednesday, July 22nd. The scientific and technical instruments company reported $2.48 earnings per share for the quarter, topping analysts’ consensus estimates of $1.99 by $0.49. Teledyne Technologies had a net margin of 12.59% and a return on equity of 14.45%. The company had revenue of $743.30 million during the quarter, compared to analyst estimates of $743.70 million. During the same period in the previous year, the business earned $2.80 EPS. As a group, equities analysts expect that Teledyne Technologies Incorporated will post 9.81 earnings per share for the current fiscal year.

In related news, VP Cynthia Y. Belak sold 8,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $330.18, for a total value of $2,641,440.00. Following the completion of the transaction, the vice president now directly owns 11,482 shares in the company, valued at approximately $3,791,126.76. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Aldo Pichelli sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $332.17, for a total transaction of $1,660,850.00. Following the completion of the transaction, the chief executive officer now owns 94,002 shares of the company’s stock, valued at $31,224,644.34. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 36,316 shares of company stock valued at $12,240,352. 3.15% of the stock is owned by company insiders.

TDY has been the subject of several recent research reports. Jefferies Financial Group upgraded shares of Teledyne Technologies from a “hold” rating to a “buy” rating and lifted their target price for the company from $310.00 to $360.00 in a report on Wednesday, July 15th. Zacks Investment Research lowered shares of Teledyne Technologies from a “hold” rating to a “sell” rating and set a $359.00 target price for the company. in a report on Tuesday, May 26th. Finally, Needham & Company LLC lifted their target price on shares of Teledyne Technologies from $345.00 to $365.00 and gave the company a “buy” rating in a report on Thursday, July 23rd. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $374.75.

About Teledyne Technologies

Teledyne Technologies Incorporated provides instrumentation, digital imaging, aerospace and defense electronics, and engineered systems in the United States, the United Kingdom, Denmark, Canada, France, and the Netherlands. The company's Instrumentation segment offers monitoring and control instruments for marine, environmental, industrial, and other applications, as well as electronic test and measurement equipment; and power and communications connectivity devices for distributed instrumentation systems and sensor networks deployed in mission critical and harsh environments.

See Also: Capital Gains

Institutional Ownership by Quarter for Teledyne Technologies (NYSE:TDY)

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