Balentine LLC Lowers Position in Teledyne Technologies Incorporated (NYSE:TDY)

Balentine LLC trimmed its stake in shares of Teledyne Technologies Incorporated (NYSE:TDY) by 29.9% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 656 shares of the scientific and technical instruments company’s stock after selling 280 shares during the period. Balentine LLC’s holdings in Teledyne Technologies were worth $293,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of TDY. Bruce G. Allen Investments LLC bought a new stake in shares of Teledyne Technologies in the fourth quarter worth about $28,000. CVA Family Office LLC bought a new stake in Teledyne Technologies in the 4th quarter worth approximately $31,000. Anchor Investment Management LLC purchased a new stake in shares of Teledyne Technologies during the 4th quarter worth approximately $45,000. Cary Street Partners Investment Advisory LLC bought a new position in shares of Teledyne Technologies during the 3rd quarter valued at approximately $44,000. Finally, Householder Group Estate & Retirement Specialist LLC grew its holdings in shares of 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 valued at $49,000 after purchasing an additional 43 shares in the last quarter. 91.58% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director Simon M. Lorne sold 2,200 shares of the firm’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $426.70, for a total value of $938,740.00. Following the sale, the director now directly owns 67,288 shares in the company, valued at approximately $28,711,789.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.14% of the stock is currently owned by corporate insiders.

Teledyne Technologies Stock Up 0.3 %

Shares of Teledyne Technologies stock opened at $409.22 on Thursday. Teledyne Technologies Incorporated has a 1 year low of $355.41 and a 1 year high of $448.19. 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 market cap of $19.39 billion, a price-to-earnings ratio of 22.13, a PEG ratio of 2.87 and a beta of 1.04. The firm’s 50-day moving average is $404.78 and its two-hundred day moving average is $415.28.

Teledyne Technologies (NYSE:TDY) last posted 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). The company had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.39 billion. Teledyne Technologies had a return on equity of 10.54% and a net margin of 15.81%. The firm’s quarterly revenue was down 2.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.53 EPS. As a group, research analysts expect that Teledyne Technologies Incorporated will post 19.36 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. TD Cowen dropped their price objective on shares of Teledyne Technologies from $475.00 to $450.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. StockNews.com cut Teledyne Technologies from a “buy” rating to a “hold” rating in a report on Thursday, April 25th. Bank of America lowered Teledyne Technologies from a “buy” rating to a “neutral” rating and decreased their price target for the company from $490.00 to $400.00 in a report on Friday, April 26th. Finally, Needham & Company LLC dropped their price objective on shares of Teledyne Technologies from $510.00 to $455.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Teledyne Technologies has an average rating of “Moderate Buy” and a consensus price target of $470.83.

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.