Teledyne Technologies Incorporated (NYSE:TDY) Holdings Decreased by Adage Capital Partners GP L.L.C.

Adage Capital Partners GP L.L.C. lessened its stake in Teledyne Technologies Incorporated (NYSE:TDY - Free Report) by 73.1% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 45,542 shares of the scientific and technical instruments company's stock after selling 123,600 shares during the quarter. Adage Capital Partners GP L.L.C. owned 0.10% of Teledyne Technologies worth $21,137,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Hurley Capital LLC acquired a new stake in Teledyne Technologies during the 4th quarter valued at $33,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Teledyne Technologies during the third quarter valued at $39,000. Millstone Evans Group LLC purchased a new stake in Teledyne Technologies during the 4th quarter worth about $42,000. Newbridge Financial Services Group Inc. acquired a new position in Teledyne Technologies in the 4th quarter valued at about $46,000. Finally, Tortoise Investment Management LLC lifted 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 purchasing an additional 48 shares in the last quarter. Institutional investors and hedge funds own 91.58% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. StockNews.com downgraded Teledyne Technologies from a "buy" rating to a "hold" rating in a report on Monday. Bank of America increased their target price on Teledyne Technologies from $550.00 to $600.00 and gave the stock a "buy" rating in a research report on Monday, March 17th. Needham & Company LLC lowered their price target on Teledyne Technologies from $585.00 to $550.00 and set a "buy" rating for the company in a report on Thursday, April 24th. Finally, TD Securities reiterated a "buy" rating and set a $550.00 price objective on shares of Teledyne Technologies in a report on Thursday, April 24th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $542.50.

Teledyne Technologies Trading Up 2.3 %

NYSE TDY traded up $10.62 during mid-day trading on Friday, hitting $476.88. The company's stock had a trading volume of 199,757 shares, compared to its average volume of 255,514. 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 Incorporated has a 52-week low of $380.63 and a 52-week high of $522.50. The stock's fifty day simple moving average is $479.70 and its two-hundred day simple moving average is $478.98. The firm has a market capitalization of $22.34 billion, a P/E ratio of 27.68, a price-to-earnings-growth ratio of 3.14 and a beta of 1.03.

Teledyne Technologies (NYSE:TDY - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The scientific and technical instruments company reported $4.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.92 by $0.03. Teledyne Technologies had a return on equity of 9.94% and a net margin of 14.45%. The firm had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.44 billion. During the same period in the prior year, the firm earned $4.55 EPS. The firm's quarterly revenue was up 7.4% compared to the same quarter last year. Research analysts expect that Teledyne Technologies Incorporated will post 21.55 EPS for the current year.

Insiders Place Their Bets

In related news, Vice Chairman Jason Vanwees sold 3,700 shares of the firm's stock in a transaction 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 completion of the sale, the insider now directly owns 51,324 shares of the company's stock, valued at approximately $26,691,559.44. This trade represents a 6.72 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Melanie Susan Cibik sold 706 shares of the business's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $519.96, for a total transaction of $367,091.76. Following the completion of the transaction, the executive vice president now owns 26,529 shares in the company, valued at $13,794,018.84. This represents a 2.59 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 9,413 shares of company stock worth $4,846,536 in the last 90 days. 1.50% of the stock is owned by company insiders.

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.