Gotham Asset Management LLC Sells 3,048 Shares of Teledyne Technologies Incorporated (NYSE:TDY)

Gotham Asset Management LLC decreased its stake in Teledyne Technologies Incorporated (NYSE:TDY - Free Report) by 6.6% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 43,013 shares of the scientific and technical instruments company's stock after selling 3,048 shares during the quarter. Gotham Asset Management LLC owned about 0.09% of Teledyne Technologies worth $19,964,000 at the end of the most recent reporting period.

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

Wall Street Analyst Weigh In

TDY has been the subject of several recent research reports. Bank of America boosted their price target on shares of Teledyne Technologies from $550.00 to $600.00 and gave the company a "buy" rating in a report on Monday, March 17th. TD Securities reaffirmed 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 decreased their price target on Teledyne Technologies from $585.00 to $550.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. Finally, StockNews.com upgraded Teledyne Technologies from a "hold" rating to a "buy" rating in a research note on Friday. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat, Teledyne Technologies currently has a consensus rating of "Buy" and an average price target of $542.50.

Teledyne Technologies Price Performance

Shares of NYSE:TDY traded up $0.95 during trading hours on Tuesday, hitting $494.87. 15,652 shares of the company's stock traded hands, compared to its average volume of 257,690. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.61 and a current ratio of 2.33. The company has a market cap of $23.19 billion, a price-to-earnings ratio of 28.69, a price-to-earnings-growth 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's fifty day simple moving average is $476.80 and its two-hundred day simple moving average is $480.64.

Teledyne Technologies (NYSE:TDY - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The scientific and technical instruments company reported $4.95 EPS for the quarter, topping the consensus estimate of $4.92 by $0.03. The business had revenue of $1.45 billion during 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%. Teledyne Technologies's revenue was up 7.4% on a year-over-year basis. During the same quarter last year, the company earned $4.55 EPS. As a group, equities analysts anticipate that Teledyne Technologies Incorporated will post 21.55 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Vice Chairman Jason Vanwees sold 3,700 shares of the firm'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 completion of the sale, the insider now owns 51,324 shares in the company, valued at approximately $26,691,559.44. This trade represents a 6.72% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Melanie Susan Cibik sold 706 shares of the business's 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 sale, the executive vice president now owns 26,529 shares of the company's stock, valued at $13,794,018.84. This trade represents a 2.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.50% of the company's stock.

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.