Marks Group Wealth Management Inc Lowers Stake in Teledyne Technologies Incorporated (NYSE:TDY)

Marks Group Wealth Management Inc cut its position in shares of Teledyne Technologies Incorporated (NYSE:TDY) by 3.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 18,085 shares of the scientific and technical instruments company’s stock after selling 741 shares during the quarter. Marks Group Wealth Management Inc’s holdings in Teledyne Technologies were worth $8,394,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. State Street Corp increased its position in Teledyne Technologies by 1.9% during the 3rd quarter. State Street Corp now owns 2,040,896 shares of the scientific and technical instruments company’s stock worth $893,219,000 after purchasing an additional 37,884 shares in the last quarter. Janus Henderson Group PLC grew its stake in Teledyne Technologies by 0.6% during the third quarter. Janus Henderson Group PLC now owns 1,709,475 shares of the scientific and technical instruments company’s stock worth $748,167,000 after buying an additional 9,368 shares during the period. Geode Capital Management LLC grew its stake in Teledyne Technologies by 2.4% during the third quarter. Geode Capital Management LLC now owns 1,192,019 shares of the scientific and technical instruments company’s stock worth $520,335,000 after buying an additional 28,224 shares during the period. JPMorgan Chase & Co. increased its position in shares of Teledyne Technologies by 6.0% in the third quarter. JPMorgan Chase & Co. now owns 1,150,065 shares of the scientific and technical instruments company’s stock worth $503,338,000 after acquiring an additional 64,617 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Teledyne Technologies by 0.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 291,279 shares of the scientific and technical instruments company’s stock valued at $127,481,000 after acquiring an additional 2,206 shares during the period. 91.58% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Teledyne Technologies

In other Teledyne Technologies news, VP Cynthia Y. Belak sold 5,745 shares of the business’s stock in a transaction dated 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 completion of the transaction, the vice president now directly owns 4,962 shares of the company’s stock, valued at $2,522,383.08. The trade was a 53.66 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Michael T. Smith sold 2,025 shares of the firm’s stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $478.25, for a total transaction of $968,456.25. Following the completion of the sale, the director now owns 54,935 shares in the company, valued at $26,272,663.75. The trade was a 3.56 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 32,190 shares of company stock worth $16,386,864. 2.14% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

TDY has been the subject of a number of research reports. UBS Group began coverage on shares of Teledyne Technologies in a research report on Tuesday, December 10th. They set a “buy” rating and a $585.00 price target for the company. TD Cowen upped their target price on Teledyne Technologies from $450.00 to $500.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Bank of America upgraded Teledyne Technologies from a “neutral” rating to a “buy” rating and raised their target price for the company from $450.00 to $550.00 in a report on Friday, November 8th. Finally, Needham & Company LLC reissued a “buy” rating and set a $585.00 price target on shares of Teledyne Technologies in a research report on Wednesday, February 5th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $538.00.

Teledyne Technologies Stock Down 0.5 %

Shares of NYSE TDY opened at $508.78 on Wednesday. The firm has a market cap of $23.71 billion, a price-to-earnings ratio of 29.53, a PEG ratio of 3.19 and a beta of 1.03. Teledyne Technologies Incorporated has a 1 year low of $355.41 and a 1 year 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 stock’s 50-day simple moving average is $481.11 and its 200-day simple moving average is $456.31.

Teledyne Technologies (NYSE:TDY) last posted its quarterly earnings data on Wednesday, January 22nd. The scientific and technical instruments company reported $5.52 EPS for the quarter, beating analysts’ consensus estimates of $5.23 by $0.29. The firm had revenue of $1.50 billion for 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 firm’s revenue was up 5.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $5.44 EPS. As a group, equities analysts anticipate that Teledyne Technologies Incorporated will post 21.59 earnings per share for the current fiscal year.

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.