XTX Topco Ltd Sells 856 Shares of Teledyne Technologies Incorporated (NYSE:TDY)

XTX Topco Ltd cut its stake in Teledyne Technologies Incorporated (NYSE:TDY - Free Report) by 64.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 478 shares of the scientific and technical instruments company's stock after selling 856 shares during the period. XTX Topco Ltd's holdings in Teledyne Technologies were worth $238,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of TDY. Janus Henderson Group PLC increased its stake in shares of Teledyne Technologies by 0.8% in the 4th quarter. Janus Henderson Group PLC now owns 1,723,082 shares of the scientific and technical instruments company's stock valued at $799,734,000 after buying an additional 13,607 shares during the period. Kayne Anderson Rudnick Investment Management LLC lifted its holdings in Teledyne Technologies by 1.6% during the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,316,360 shares of the scientific and technical instruments company's stock worth $610,962,000 after acquiring an additional 20,165 shares in the last quarter. Northern Trust Corp lifted its holdings in Teledyne Technologies by 16.6% during the fourth quarter. Northern Trust Corp now owns 536,874 shares of the scientific and technical instruments company's stock worth $249,180,000 after acquiring an additional 76,552 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of Teledyne Technologies by 61,911.9% in the first quarter. GAMMA Investing LLC now owns 496,715 shares of the scientific and technical instruments company's stock valued at $247,220,000 after purchasing an additional 495,914 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Teledyne Technologies by 24.9% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 408,171 shares of the scientific and technical instruments company's stock valued at $189,444,000 after purchasing an additional 81,453 shares in the last quarter. 91.58% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO George C. Bobb III sold 6,735 shares of the stock in a transaction on Wednesday, July 30th. The stock was sold at an average price of $555.41, for a total value of $3,740,686.35. Following the completion of the transaction, the chief executive officer directly owned 10,391 shares in the company, valued at approximately $5,771,265.31. This represents a 39.33% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Simon M. Lorne sold 6,311 shares of the stock in a transaction on Friday, July 25th. The shares were sold at an average price of $549.64, for a total value of $3,468,778.04. Following the completion of the transaction, the director owned 61,913 shares of the company's stock, valued at $34,029,861.32. The trade was a 9.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 15,021 shares of company stock worth $8,315,662. Insiders own 1.50% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on TDY. Wall Street Zen upgraded Teledyne Technologies from a "hold" rating to a "buy" rating in a report on Friday, May 9th. Needham & Company LLC lowered their price target 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. TD Securities reaffirmed a "buy" rating and issued a $550.00 price objective on shares of Teledyne Technologies in a report on Thursday, April 24th. Stifel Nicolaus began coverage on Teledyne Technologies in a report on Tuesday, June 24th. They issued a "buy" rating and a $626.00 price objective on the stock. Finally, Morgan Stanley upped their price objective on Teledyne Technologies from $535.00 to $580.00 and gave the company an "equal weight" rating in a report on Thursday, July 17th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $576.57.

Teledyne Technologies Trading Up 2.0%

Shares of TDY stock opened at $552.63 on Wednesday. The stock's fifty day moving average price is $524.18 and its two-hundred day moving average price is $500.52. The company has a market cap of $25.91 billion, a PE ratio of 30.43, a P/E/G ratio of 2.52 and a beta of 1.07. Teledyne Technologies Incorporated has a fifty-two week low of $406.36 and a fifty-two week high of $570.56. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.07 and a current ratio of 1.66.

Teledyne Technologies (NYSE:TDY - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The scientific and technical instruments company reported $5.20 earnings per share for the quarter, beating analysts' consensus estimates of $5.05 by $0.15. The firm had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.47 billion. Teledyne Technologies had a return on equity of 9.96% and a net margin of 14.54%. The company's revenue was up 10.2% compared to the same quarter last year. During the same quarter last year, the business posted $4.58 EPS. Equities analysts predict that Teledyne Technologies Incorporated will post 21.55 EPS for the current fiscal year.

Teledyne Technologies declared that its Board of Directors has approved a share buyback plan on Wednesday, July 23rd that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the scientific and technical instruments company to purchase up to 7.7% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's board believes its shares are undervalued.

About Teledyne Technologies

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.

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