Woodline Partners LP Trims Holdings in Teledyne Technologies Incorporated (NYSE:TDY)

Woodline Partners LP reduced its stake in Teledyne Technologies Incorporated (NYSE:TDY - Free Report) by 98.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 888 shares of the scientific and technical instruments company's stock after selling 55,271 shares during the period. Woodline Partners LP's holdings in Teledyne Technologies were worth $412,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Quarry LP purchased a new stake in shares of Teledyne Technologies in the fourth quarter worth $28,000. Hurley Capital LLC purchased a new stake in shares of Teledyne Technologies in the fourth quarter worth $33,000. Ancora Advisors LLC raised its position in shares of Teledyne Technologies by 192.3% in the fourth quarter. Ancora Advisors LLC now owns 76 shares of the scientific and technical instruments company's stock worth $35,000 after buying an additional 50 shares in the last quarter. Millstone Evans Group LLC purchased a new stake in shares of Teledyne Technologies in the fourth quarter worth $42,000. Finally, Newbridge Financial Services Group Inc. purchased a new stake in shares of Teledyne Technologies in the fourth quarter worth $46,000. 91.58% of the stock is owned by institutional investors.

Insider Transactions at Teledyne Technologies

In related news, EVP Melanie Susan Cibik sold 706 shares of the business's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $519.96, for a total transaction of $367,091.76. Following the transaction, the executive vice president now owns 26,529 shares in the company, valued at $13,794,018.84. The trade was a 2.59% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Vice Chairman Jason Vanwees sold 3,700 shares of the business's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $520.06, for a total value of $1,924,222.00. Following the transaction, the insider now owns 51,324 shares in the company, 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. Company insiders own 1.50% of the company's stock.

Analyst Upgrades and Downgrades

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

Teledyne Technologies Price Performance

NYSE TDY traded up $1.92 during trading hours on Friday, reaching $499.41. 556,459 shares of the stock traded hands, compared to its average volume of 262,684. The stock has a 50 day simple moving average of $476.55 and a two-hundred day simple moving average of $482.69. Teledyne Technologies Incorporated has a 1 year low of $380.63 and a 1 year high of $522.50. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.33 and a quick ratio of 1.61. The company has a market cap of $23.40 billion, a price-to-earnings ratio of 28.98, a price-to-earnings-growth ratio of 3.14 and a beta of 1.06.

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

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.