King Luther Capital Management Corp Sells 4,316 Shares of Teledyne Technologies Incorporated (NYSE:TDY)

King Luther Capital Management Corp lowered its stake in Teledyne Technologies Incorporated (NYSE:TDY) by 0.8% in the fourth quarter, Holdings Channel reports. The fund owned 565,678 shares of the scientific and technical instruments company’s stock after selling 4,316 shares during the quarter. Teledyne Technologies accounts for approximately 1.1% of King Luther Capital Management Corp’s investment portfolio, making the stock its 21st largest holding. King Luther Capital Management Corp’s holdings in Teledyne Technologies were worth $262,548,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Brooklyn Investment Group bought a new position in Teledyne Technologies in the 3rd quarter valued at approximately $32,000. Wilmington Savings Fund Society FSB bought a new position in Teledyne Technologies in the 3rd quarter valued at approximately $39,000. Newbridge Financial Services Group Inc. bought a new position in Teledyne Technologies in the 4th quarter valued at approximately $46,000. Tortoise Investment Management LLC raised its holdings in Teledyne Technologies by 63.2% in the 4th quarter. Tortoise Investment Management LLC now owns 124 shares of the scientific and technical instruments company’s stock valued at $58,000 after buying an additional 48 shares during the last quarter. Finally, Private Trust Co. NA raised its holdings in Teledyne Technologies by 43.0% in the 4th quarter. Private Trust Co. NA now owns 173 shares of the scientific and technical instruments company’s stock valued at $80,000 after buying an additional 52 shares during the last quarter. Institutional investors own 91.58% of the company’s stock.

Teledyne Technologies Stock Down 0.8 %

Teledyne Technologies stock opened at $478.89 on Tuesday. The firm has a market cap of $22.43 billion, a price-to-earnings ratio of 27.79, a PEG 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 company has a debt-to-equity ratio of 0.28, a quick ratio of 1.61 and a current ratio of 2.33. The firm has a 50 day moving average price of $491.18 and a two-hundred day moving average price of $468.11.

Teledyne Technologies (NYSE:TDY) last announced its quarterly earnings data on Wednesday, January 22nd. The scientific and technical instruments company reported $5.52 EPS for the quarter, topping the consensus estimate of $5.23 by $0.29. The company had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.45 billion. Teledyne Technologies had a net margin of 14.45% and a return on equity of 9.94%. The company’s quarterly revenue was up 5.4% on a year-over-year basis. During the same quarter last year, the firm posted $5.44 EPS. Equities analysts predict that Teledyne Technologies Incorporated will post 21.55 EPS for the current year.

Insider Transactions at Teledyne Technologies

In related news, Director Michael T. Smith sold 2,025 shares of Teledyne Technologies stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $478.25, for a total value of $968,456.25. Following the completion of the sale, the director now owns 54,935 shares of the company’s stock, valued at approximately $26,272,663.75. This trade represents a 3.56 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Melanie Susan Cibik sold 706 shares of Teledyne Technologies stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $519.96, for a total transaction of $367,091.76. Following the completion of the sale, the executive vice president now directly owns 26,529 shares of the company’s stock, valued at approximately $13,794,018.84. The trade was a 2.59 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 36,596 shares of company stock valued at $18,678,177 in the last quarter. 2.14% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have issued reports on TDY shares. Needham & Company LLC restated a “buy” rating and set a $585.00 price target on shares of Teledyne Technologies in a report on Wednesday, February 5th. UBS Group started coverage on shares of Teledyne Technologies in a report on Tuesday, December 10th. They set a “buy” rating and a $585.00 price target for the company. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, Teledyne Technologies presently has an average rating of “Buy” and a consensus price target of $538.00.

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.