Fayez Sarofim & Co Sells 10,000 Shares of Teledyne Technologies Incorporated (NYSE:TDY)

Fayez Sarofim & Co lowered its holdings in Teledyne Technologies Incorporated (NYSE:TDY - Free Report) by 5.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 179,672 shares of the scientific and technical instruments company's stock after selling 10,000 shares during the period. Fayez Sarofim & Co owned approximately 0.39% of Teledyne Technologies worth $83,391,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. LPL Financial LLC increased its stake in shares of Teledyne Technologies by 8.5% in the fourth quarter. LPL Financial LLC now owns 28,366 shares of the scientific and technical instruments company's stock worth $13,166,000 after acquiring an additional 2,224 shares during the last quarter. Amundi boosted its holdings in Teledyne Technologies by 11.9% in the fourth quarter. Amundi now owns 124,874 shares of the scientific and technical instruments company's stock worth $57,687,000 after purchasing an additional 13,244 shares in the last quarter. Covea Finance increased its position in Teledyne Technologies by 25.1% during the fourth quarter. Covea Finance now owns 21,400 shares of the scientific and technical instruments company's stock worth $9,932,000 after buying an additional 4,300 shares during the last quarter. ING Groep NV raised its holdings in Teledyne Technologies by 144.9% during the fourth quarter. ING Groep NV now owns 5,952 shares of the scientific and technical instruments company's stock valued at $2,763,000 after buying an additional 3,522 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in shares of Teledyne Technologies by 6.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,150,065 shares of the scientific and technical instruments company's stock worth $503,338,000 after acquiring an additional 64,617 shares in the last quarter. Institutional investors and hedge funds own 91.58% of the company's stock.

Insider Buying and Selling at Teledyne Technologies

In related news, Vice Chairman Jason Vanwees sold 3,700 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $520.06, for a total transaction of $1,924,222.00. Following the sale, the insider now directly owns 51,324 shares in the company, valued at $26,691,559.44. This represents a 6.72 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Melanie Susan Cibik sold 706 shares of Teledyne Technologies 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 of the company's stock, valued at approximately $13,794,018.84. The trade was a 2.59 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 22,518 shares of company stock worth $11,586,295 over the last ninety days. Corporate insiders own 1.50% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on TDY shares. StockNews.com upgraded Teledyne Technologies from a "hold" rating to a "buy" rating in a research note on Wednesday, April 16th. Bank of America lifted their price target 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 reduced their price objective on Teledyne Technologies from $585.00 to $550.00 and set a "buy" rating for the company in a research report on Thursday. Finally, TD Securities reaffirmed a "buy" rating and set a $550.00 target price on shares of Teledyne Technologies in a research report on Thursday. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $542.50.

Teledyne Technologies Price Performance

TDY traded down $0.21 during midday trading on Friday, reaching $458.92. 314,532 shares of the company's stock were exchanged, compared to its average volume of 257,460. The company has a quick ratio of 1.61, a current ratio of 2.33 and a debt-to-equity ratio of 0.28. The business has a 50-day simple moving average of $482.32 and a two-hundred day simple moving average of $478.58. The firm has a market capitalization of $21.49 billion, a price-to-earnings ratio of 26.63, a price-to-earnings-growth ratio of 3.14 and a beta of 1.03. Teledyne Technologies Incorporated has a one year low of $372.96 and a one year high of $522.50.

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 EPS for the quarter, beating the consensus estimate of $4.92 by $0.03. The business had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.44 billion. Teledyne Technologies had a return on equity of 9.94% and a net margin of 14.45%. During the same quarter in the previous year, the firm earned $4.55 EPS. As a group, research analysts predict that Teledyne Technologies Incorporated will post 21.55 EPS for the current year.

Teledyne Technologies 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.