First Trust Advisors LP Trims Position in Teledyne Technologies Incorporated (NYSE:TDY)

First Trust Advisors LP lessened its stake in shares of Teledyne Technologies Incorporated (NYSE:TDY - Free Report) by 12.6% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 63,408 shares of the scientific and technical instruments company's stock after selling 9,115 shares during the period. First Trust Advisors LP owned about 0.14% of Teledyne Technologies worth $29,429,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Hurley Capital LLC bought a new stake in Teledyne Technologies in the 4th quarter valued at about $33,000. Wilmington Savings Fund Society FSB purchased a new position in shares of Teledyne Technologies in the third quarter worth about $39,000. Millstone Evans Group LLC bought a new stake in shares of Teledyne Technologies in the fourth quarter valued at approximately $42,000. Newbridge Financial Services Group Inc. purchased a new stake in shares of Teledyne Technologies during the 4th quarter valued at approximately $46,000. Finally, Tortoise Investment Management LLC boosted its holdings in Teledyne Technologies by 63.2% in the 4th quarter. Tortoise Investment Management LLC now owns 124 shares of the scientific and technical instruments company's stock worth $58,000 after buying an additional 48 shares during the period. Institutional investors own 91.58% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Needham & Company LLC dropped their target price 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. StockNews.com cut Teledyne Technologies from a "buy" rating to a "hold" rating in a report on Monday. TD Securities reaffirmed a "buy" rating and set a $550.00 target price on shares of Teledyne Technologies in a report on Thursday, April 24th. Finally, Bank of America increased their price target on shares of Teledyne Technologies from $550.00 to $600.00 and gave the stock a "buy" rating in a report on Monday, March 17th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $542.50.

Insider Buying and Selling at Teledyne Technologies

In related news, Chairman Robert Mehrabian sold 5,768 shares of Teledyne Technologies stock in a transaction on Friday, January 31st. The shares were sold at an average price of $518.22, for a total value of $2,989,092.96. Following the transaction, the chairman now owns 144,553 shares in the company, valued at $74,910,255.66. This trade represents a 3.84 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Vice Chairman Jason Vanwees sold 3,700 shares of the company's 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 approximately $26,691,559.44. The trade was a 6.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 15,181 shares of company stock worth $7,835,629 over the last ninety days. Insiders own 1.50% of the company's stock.

Teledyne Technologies Price Performance

Shares of TDY stock traded up $1.66 during trading on Thursday, hitting $467.69. The company had a trading volume of 64,962 shares, compared to its average volume of 255,217. Teledyne Technologies Incorporated has a 52 week low of $378.53 and a 52 week high of $522.50. The stock has a market capitalization of $21.91 billion, a price-to-earnings ratio of 27.22, a price-to-earnings-growth ratio of 3.14 and a beta of 1.03. 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 stock's 50-day moving average is $480.28 and its two-hundred day moving average is $478.90.

Teledyne Technologies (NYSE:TDY - Get Free Report) last released its 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. Teledyne Technologies had a return on equity of 9.94% and a net margin of 14.45%. The business had revenue of $1.45 billion for the quarter, compared to analysts' expectations of $1.44 billion. During the same quarter in the prior year, the firm earned $4.55 earnings per share. The firm's revenue was up 7.4% on a year-over-year basis. As a group, analysts predict that Teledyne Technologies Incorporated will post 21.55 EPS for the current fiscal year.

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.