Clearbridge Investments LLC Has $107.22 Million Stock Holdings in Teledyne Technologies Incorporated (NYSE:TDY)

Clearbridge Investments LLC lessened its stake in shares of Teledyne Technologies Incorporated (NYSE:TDY) by 0.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 240,243 shares of the scientific and technical instruments company’s stock after selling 872 shares during the period. Clearbridge Investments LLC owned 0.51% of Teledyne Technologies worth $107,218,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in TDY. Bruce G. Allen Investments LLC bought a new stake in shares of Teledyne Technologies in the fourth quarter valued at approximately $28,000. CVA Family Office LLC bought a new position in Teledyne Technologies in the fourth quarter worth $31,000. Anchor Investment Management LLC bought a new position in Teledyne Technologies in the fourth quarter worth $45,000. Cary Street Partners Investment Advisory LLC bought a new position in Teledyne Technologies in the third quarter worth $44,000. Finally, Householder Group Estate & Retirement Specialist LLC lifted its position in Teledyne Technologies by 63.2% in the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 111 shares of the scientific and technical instruments company’s stock worth $49,000 after purchasing an additional 43 shares during the period. Institutional investors and hedge funds own 91.58% of the company’s stock.

Teledyne Technologies Stock Performance

Teledyne Technologies stock opened at $407.90 on Wednesday. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.81 and a quick ratio of 1.29. The stock has a fifty day moving average price of $405.36 and a two-hundred day moving average price of $415.12. Teledyne Technologies Incorporated has a 52-week low of $355.41 and a 52-week high of $448.19. The firm has a market capitalization of $19.33 billion, a P/E ratio of 22.06, a P/E/G ratio of 2.81 and a beta of 1.04.

Teledyne Technologies (NYSE:TDY) last announced its earnings results on Wednesday, April 24th. The scientific and technical instruments company reported $4.55 earnings per share for the quarter, missing analysts’ consensus estimates of $4.63 by ($0.08). Teledyne Technologies had a net margin of 15.81% and a return on equity of 10.54%. The business had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.39 billion. During the same quarter last year, the business posted $4.53 earnings per share. The business’s quarterly revenue was down 2.4% compared to the same quarter last year. As a group, analysts anticipate that Teledyne Technologies Incorporated will post 19.36 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently commented on TDY. StockNews.com cut Teledyne Technologies from a “buy” rating to a “hold” rating in a research report on Thursday, April 25th. Bank of America cut Teledyne Technologies from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $490.00 to $400.00 in a research report on Friday, April 26th. Needham & Company LLC reduced their target price on Teledyne Technologies from $510.00 to $455.00 and set a “buy” rating for the company in a research report on Thursday, April 25th. Finally, TD Cowen reduced their target price on Teledyne Technologies from $475.00 to $450.00 and set a “buy” rating for the company in a research report on Thursday, April 25th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $470.83.

Insider Activity

In other news, Director Simon M. Lorne sold 2,200 shares of the firm’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $426.70, for a total value of $938,740.00. Following the completion of the sale, the director now directly owns 67,288 shares in the company, valued at $28,711,789.60. The sale was disclosed in a filing with the SEC, which is accessible through this link. 1.88% of the stock is currently owned by corporate insiders.

Teledyne Technologies 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.