Kennedy Capital Management LLC Cuts Stock Holdings in Teledyne Technologies Incorporated (NYSE:TDY)

Kennedy Capital Management LLC trimmed its position in Teledyne Technologies Incorporated (NYSE:TDY) by 2.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 43,994 shares of the scientific and technical instruments company’s stock after selling 1,123 shares during the quarter. Kennedy Capital Management LLC owned approximately 0.09% of Teledyne Technologies worth $20,419,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Hurley Capital LLC purchased a new position in Teledyne Technologies during the 4th quarter worth approximately $33,000. Wilmington Savings Fund Society FSB purchased a new position in shares of Teledyne Technologies during the third quarter worth approximately $39,000. Millstone Evans Group LLC acquired a new position in shares of Teledyne Technologies in the 4th quarter valued at $42,000. Newbridge Financial Services Group Inc. purchased a new stake in Teledyne Technologies in the 4th quarter valued at $46,000. Finally, Tortoise Investment Management LLC boosted its stake in Teledyne Technologies by 63.2% during the 4th quarter. Tortoise Investment Management LLC now owns 124 shares of the scientific and technical instruments company’s stock worth $58,000 after purchasing an additional 48 shares during the period. 91.58% of the stock is owned by institutional investors and hedge funds.

Teledyne Technologies Trading Up 7.5 %

NYSE:TDY opened at $468.17 on Thursday. The stock has a market capitalization of $21.93 billion, a price-to-earnings ratio of 27.17, a PEG ratio of 3.14 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 stock has a fifty day moving average price of $492.94 and a two-hundred day moving average price of $476.98. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.61 and a current ratio of 2.33.

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on TDY shares. Bank of America upped their target price on shares of Teledyne Technologies from $550.00 to $600.00 and gave the company a “buy” rating in a report on Monday, March 17th. StockNews.com cut Teledyne Technologies from a “buy” rating to a “hold” rating in a research report on Wednesday, April 2nd. Finally, Needham & Company LLC reissued a “buy” rating and issued a $585.00 target price on shares of Teledyne Technologies in a report on Wednesday, February 5th. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $548.00.

Insider Buying and Selling

In other Teledyne Technologies news, VP Cynthia Y. Belak sold 5,745 shares of the stock in a transaction on Friday, January 24th. The stock was 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 in the company, valued at approximately $2,522,383.08. This represents a 53.66 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO George C. Bobb III sold 6,308 shares of the firm’s stock in a transaction on Friday, January 24th. The stock was sold at an average price of $507.77, for a total value of $3,203,013.16. Following the transaction, the chief operating officer now directly owns 10,482 shares of the company’s stock, 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 34,571 shares of company stock worth $17,709,721 in the last three months. Corporate insiders own 1.50% of the company’s stock.

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.