Man Group plc Lowers Stake in Teledyne Technologies Incorporated (NYSE:TDY)

Man Group plc reduced its position in shares of Teledyne Technologies Incorporated (NYSE:TDY - Free Report) by 35.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,103 shares of the scientific and technical instruments company's stock after selling 609 shares during the period. Man Group plc's holdings in Teledyne Technologies were worth $512,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Quarry LP acquired a new position in Teledyne Technologies in the fourth quarter worth approximately $28,000. Hurley Capital LLC bought a new stake in Teledyne Technologies in the fourth quarter valued at about $33,000. Ancora Advisors LLC increased its position in shares of Teledyne Technologies by 192.3% during the 4th quarter. Ancora Advisors LLC now owns 76 shares of the scientific and technical instruments company's stock worth $35,000 after purchasing an additional 50 shares in the last quarter. Millstone Evans Group LLC acquired a new stake in shares of Teledyne Technologies in the fourth quarter valued at $42,000. Finally, Newbridge Financial Services Group Inc. acquired a new position in Teledyne Technologies during the 4th quarter worth $46,000. Institutional investors and hedge funds own 91.58% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on TDY. Bank of America boosted their target price on Teledyne Technologies from $550.00 to $600.00 and gave the company a "buy" rating in a research note on Monday, March 17th. TD Securities reissued a "buy" rating and issued a $550.00 price objective on shares of Teledyne Technologies in a report on Thursday, April 24th. Wall Street Zen raised shares of Teledyne Technologies from a "hold" rating to a "buy" rating in a report on Friday, May 9th. Finally, Needham & Company LLC reduced their price target on shares of Teledyne Technologies from $585.00 to $550.00 and set a "buy" rating on the stock in a research note on Thursday, April 24th. Seven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Teledyne Technologies currently has a consensus rating of "Buy" and a consensus target price of $542.50.

Teledyne Technologies Price Performance

Shares of Teledyne Technologies stock traded down $1.50 during trading on Friday, hitting $495.99. 141,457 shares of the stock traded hands, compared to its average volume of 261,195. The firm's fifty day moving average is $477.03 and its 200-day moving average is $482.57. The stock has a market cap of $23.24 billion, a price-to-earnings ratio of 28.76, a PEG ratio of 3.14 and a beta of 1.06. Teledyne Technologies Incorporated has a 52 week low of $380.63 and a 52 week high of $522.50. The company has a quick ratio of 1.61, a current ratio of 2.33 and a debt-to-equity ratio of 0.28.

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

Insider Buying and Selling

In related news, EVP Melanie Susan Cibik sold 706 shares of Teledyne Technologies stock in a transaction dated Monday, March 3rd. The shares were 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 directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Vice Chairman Jason Vanwees sold 3,700 shares of Teledyne Technologies stock in a transaction dated 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 sale, the insider now owns 51,324 shares of the company's stock, valued at $26,691,559.44. The trade was a 6.72% decrease in their position. The disclosure for this sale can be found here. 1.50% of the stock is currently owned by 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.