Corebridge Financial Inc. Has $5.12 Million Stock Position in Teledyne Technologies Incorporated (NYSE:TDY)

Corebridge Financial Inc. cut its position in Teledyne Technologies Incorporated (NYSE:TDY) by 5.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,033 shares of the scientific and technical instruments company’s stock after selling 581 shares during the period. Corebridge Financial Inc.’s holdings in Teledyne Technologies were worth $5,121,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Brooklyn Investment Group acquired a new position in shares of Teledyne Technologies in the 3rd quarter worth approximately $32,000. Wilmington Savings Fund Society FSB acquired a new position in Teledyne Technologies in the third quarter worth $39,000. Millstone Evans Group LLC bought a new stake in shares of Teledyne Technologies during the fourth quarter worth $42,000. Newbridge Financial Services Group Inc. acquired a new stake in shares of Teledyne Technologies in the fourth quarter valued at $46,000. Finally, Tortoise Investment Management LLC raised its holdings in shares of Teledyne Technologies by 63.2% in the fourth 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. 91.58% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, COO George C. Bobb III sold 6,308 shares of Teledyne Technologies 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 of the company’s stock, valued at $5,322,445.14. This trade represents a 37.57 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Vice Chairman Jason Vanwees sold 3,700 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $520.06, for a total transaction of $1,924,222.00. Following the transaction, the insider now owns 51,324 shares of the company’s stock, valued at approximately $26,691,559.44. This represents a 6.72 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 34,571 shares of company stock worth $17,709,721. Insiders own 1.50% of the company’s stock.

Teledyne Technologies Trading Down 2.4 %

TDY opened at $494.78 on Friday. The firm has a 50 day simple moving average of $501.03 and a 200 day simple moving average of $474.86. Teledyne Technologies Incorporated has a fifty-two week low of $355.41 and a fifty-two week high of $522.50. The company has a market cap of $23.17 billion, a price-to-earnings ratio of 28.72, a price-to-earnings-growth ratio of 3.14 and a beta of 1.03. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.33 and a quick ratio of 1.61.

Teledyne Technologies (NYSE:TDY) last issued its earnings results on Wednesday, January 22nd. The scientific and technical instruments company reported $5.52 EPS for the quarter, beating the consensus estimate of $5.23 by $0.29. Teledyne Technologies had a net margin of 14.45% and a return on equity of 9.94%. The company had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.45 billion. During the same quarter in the previous year, the company posted $5.44 EPS. The business’s revenue for the quarter was up 5.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Teledyne Technologies Incorporated will post 21.55 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on TDY. UBS Group began coverage on shares of Teledyne Technologies in a research report on Tuesday, December 10th. They issued a “buy” rating and a $585.00 price objective for the company. Bank of America boosted their price objective on shares of Teledyne Technologies from $550.00 to $600.00 and gave the stock a “buy” rating in a research report on Monday, March 17th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $585.00 price objective on shares of Teledyne Technologies in a research report on Wednesday, February 5th. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, Teledyne Technologies has an average rating of “Buy” and an average target price of $548.00.

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.