Kovack Advisors Inc. Sells 31 Shares of Teledyne Technologies Incorporated (NYSE:TDY)

Kovack Advisors Inc. decreased its position in shares of Teledyne Technologies Incorporated (NYSE:TDY) by 5.2% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 567 shares of the scientific and technical instruments company’s stock after selling 31 shares during the quarter. Kovack Advisors Inc.’s holdings in Teledyne Technologies were worth $263,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in TDY. Brooklyn Investment Group bought a new position in Teledyne Technologies during the 3rd quarter worth about $32,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Teledyne Technologies in the 3rd quarter worth approximately $39,000. Newbridge Financial Services Group Inc. purchased a new stake in shares of Teledyne Technologies in the 4th quarter worth approximately $46,000. Allworth Financial LP boosted its stake in shares of Teledyne Technologies by 15.1% during the fourth quarter. Allworth Financial LP now owns 206 shares of the scientific and technical instruments company’s stock valued at $105,000 after purchasing an additional 27 shares in the last quarter. Finally, Salem Investment Counselors Inc. increased its holdings in Teledyne Technologies by 85.5% during the fourth quarter. Salem Investment Counselors Inc. now owns 230 shares of the scientific and technical instruments company’s stock valued at $107,000 after buying an additional 106 shares during the period. Institutional investors own 91.58% of the company’s stock.

Teledyne Technologies Price Performance

NYSE TDY opened at $515.60 on Friday. Teledyne Technologies Incorporated has a 12-month low of $355.41 and a 12-month high of $522.50. The firm’s fifty day simple moving average is $488.76 and its two-hundred day simple moving average is $464.15. The company has a current ratio of 2.33, a quick ratio of 1.61 and a debt-to-equity ratio of 0.28. The firm has a market capitalization of $24.15 billion, a P/E ratio of 29.92, a P/E/G ratio of 3.14 and a beta of 1.03.

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 for the quarter, topping the consensus estimate of $5.23 by $0.29. Teledyne Technologies had a return on equity of 9.94% and a net margin of 14.45%. The firm had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.45 billion. During the same period in the previous year, the business earned $5.44 EPS. The firm’s revenue for the quarter was up 5.4% on a year-over-year basis. Analysts forecast that Teledyne Technologies Incorporated will post 21.55 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Needham & Company LLC restated a “buy” rating and set a $585.00 target price on shares of Teledyne Technologies in a report on Wednesday, February 5th. Bank of America upgraded Teledyne Technologies from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $450.00 to $550.00 in a research note on Friday, November 8th. Finally, UBS Group started coverage on Teledyne Technologies in a research note on Tuesday, December 10th. They issued a “buy” rating and a $585.00 target price on the stock. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $538.00.

Insider Activity

In other Teledyne Technologies news, VP Cynthia Y. Belak sold 5,745 shares of the business’s stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $508.34, for a total transaction of $2,920,413.30. Following the sale, the vice president now owns 4,962 shares of the company’s stock, valued at approximately $2,522,383.08. The trade was a 53.66 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO George C. Bobb III sold 6,308 shares of the company’s stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $507.77, for a total transaction of $3,203,013.16. Following the transaction, the chief operating officer now owns 10,482 shares in the company, valued at $5,322,445.14. The trade was a 37.57 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 32,190 shares of company stock worth $16,386,864 over the last 90 days. 1.88% of the stock is currently owned by corporate insiders.

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.