Ensign Peak Advisors Inc Sells 2,055 Shares of Teledyne Technologies Incorporated (NYSE:TDY)

Ensign Peak Advisors Inc cut its holdings in Teledyne Technologies Incorporated (NYSE:TDY - Free Report) by 2.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 79,167 shares of the scientific and technical instruments company's stock after selling 2,055 shares during the quarter. Ensign Peak Advisors Inc owned about 0.17% of Teledyne Technologies worth $36,744,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Barclays PLC lifted its stake in shares of Teledyne Technologies by 4.9% in the third quarter. Barclays PLC now owns 102,490 shares of the scientific and technical instruments company's stock worth $44,854,000 after buying an additional 4,765 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of Teledyne Technologies in the third quarter worth $39,000. Principal Financial Group Inc. lifted its stake in shares of Teledyne Technologies by 1.7% in the third quarter. Principal Financial Group Inc. now owns 55,849 shares of the scientific and technical instruments company's stock worth $24,443,000 after buying an additional 915 shares during the last quarter. JPMorgan Chase & Co. lifted its stake 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 buying an additional 64,617 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its stake in shares of Teledyne Technologies by 5.5% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 1,418 shares of the scientific and technical instruments company's stock worth $621,000 after buying an additional 74 shares during the last quarter. 91.58% of the stock is currently owned by institutional investors and hedge funds.

Teledyne Technologies Stock Performance

NYSE:TDY traded up $2.12 during trading hours on Friday, hitting $498.32. 197,701 shares of the company traded hands, compared to its average volume of 259,172. The stock has a market capitalization of $23.35 billion, a price-to-earnings ratio of 28.92, a P/E/G ratio of 3.14 and a beta of 1.06. Teledyne Technologies Incorporated has a twelve month low of $380.63 and a twelve month high of $545.57. The firm has a 50-day moving average of $477.32 and a 200 day moving average of $480.98. The company has a current ratio of 2.33, a quick ratio of 1.61 and a debt-to-equity ratio of 0.28.

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 net margin of 14.45% and a return on equity of 9.94%. The firm had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.44 billion. During the same quarter in the previous year, the firm posted $4.55 EPS. The business's revenue for the quarter was up 7.4% on a year-over-year basis. On average, analysts forecast that Teledyne Technologies Incorporated will post 21.55 EPS for the current year.

Insider Activity

In other news, EVP Melanie Susan Cibik sold 706 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $519.96, for a total value of $367,091.76. Following the completion of the transaction, the executive vice president now owns 26,529 shares in the company, valued at approximately $13,794,018.84. This represents a 2.59% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Vice Chairman Jason Vanwees sold 3,700 shares of the 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 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. Corporate insiders own 1.50% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. 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 note on Monday, March 17th. TD Securities restated a "buy" rating and issued a $550.00 price objective on shares of Teledyne Technologies in a research note on Thursday, April 24th. StockNews.com upgraded shares of Teledyne Technologies from a "hold" rating to a "buy" rating in a research note on Friday, May 9th. Finally, Needham & Company LLC reduced their price objective on shares of Teledyne Technologies from $585.00 to $550.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of "Buy" and an average price target of $542.50.

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.