Mercer Global Advisors Inc. ADV Sells 1,053 Shares of Teledyne Technologies Incorporated (NYSE:TDY)

Mercer Global Advisors Inc. ADV reduced its stake in Teledyne Technologies Incorporated (NYSE:TDY - Free Report) by 2.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 41,223 shares of the scientific and technical instruments company's stock after selling 1,053 shares during the quarter. Mercer Global Advisors Inc. ADV owned about 0.09% of Teledyne Technologies worth $19,133,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Norges Bank bought a new stake in Teledyne Technologies in the 4th quarter valued at $306,042,000. Madison Investment Advisors LLC bought a new position in Teledyne Technologies in the fourth quarter valued at approximately $94,721,000. Freestone Grove Partners LP acquired a new position in shares of Teledyne Technologies during the 4th quarter worth $61,939,000. Raymond James Financial Inc. bought a new position in shares of Teledyne Technologies in the fourth quarter worth about $53,304,000. Finally, FIL Ltd boosted its stake in shares of Teledyne Technologies by 72.8% in the 4th quarter. FIL Ltd now owns 260,187 shares of the scientific and technical instruments company's stock valued at $120,761,000 after purchasing an additional 109,615 shares in the last quarter. 91.58% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently commented on TDY. Bank of America increased their price objective on shares of Teledyne Technologies from $550.00 to $600.00 and gave the company a "buy" rating in a research note on Monday, March 17th. Needham & Company LLC dropped 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. StockNews.com lowered Teledyne Technologies from a "buy" rating to a "hold" rating in a research report on Monday, April 28th. Finally, TD Securities reiterated a "buy" rating and issued a $550.00 target price on shares of Teledyne Technologies in a research report on Thursday, April 24th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, Teledyne Technologies presently has an average rating of "Moderate Buy" and a consensus price target of $542.50.

Insider Buying and Selling at Teledyne Technologies

In other Teledyne Technologies news, Chairman Robert Mehrabian sold 5,007 shares of the business's stock in a transaction on Friday, February 7th. The shares were sold at an average price of $510.33, for a total transaction of $2,555,222.31. Following the completion of the sale, the chairman now owns 144,553 shares in the company, valued at approximately $73,769,732.49. The trade was a 3.35 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Melanie Susan Cibik sold 706 shares of the firm's stock in a transaction on 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 in the company, 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. Over the last three months, insiders have sold 9,413 shares of company stock valued at $4,846,536. 1.50% of the stock is currently owned by company insiders.

Teledyne Technologies Trading Down 0.1 %

Shares of NYSE:TDY traded down $0.50 during trading on Monday, reaching $478.34. The stock had a trading volume of 316,673 shares, compared to its average volume of 255,489. Teledyne Technologies Incorporated has a 52 week low of $380.63 and a 52 week high of $522.50. The firm's fifty day moving average is $479.25 and its 200 day moving average is $479.63. The stock has a market cap of $22.40 billion, a price-to-earnings ratio of 27.76, a P/E/G ratio of 3.14 and a beta of 1.03. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.61 and a current ratio of 2.33.

Teledyne Technologies (NYSE:TDY - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The scientific and technical instruments company reported $4.95 earnings per share for the quarter, topping analysts' consensus estimates of $4.92 by $0.03. The firm 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%. The business's revenue was up 7.4% compared to the same quarter last year. During the same period last year, the business posted $4.55 EPS. As a group, equities analysts forecast 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.