Millennium Management LLC Sells 76,141 Shares of Teledyne Technologies Incorporated (NYSE:TDY)

Millennium Management LLC trimmed its position in Teledyne Technologies Incorporated (NYSE:TDY - Free Report) by 26.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 214,193 shares of the scientific and technical instruments company's stock after selling 76,141 shares during the period. Millennium Management LLC owned approximately 0.46% of Teledyne Technologies worth $99,413,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Quarry LP bought a new stake in Teledyne Technologies in the 4th quarter valued at approximately $28,000. Hurley Capital LLC bought a new stake in shares of Teledyne Technologies in the fourth quarter worth $33,000. Ancora Advisors LLC boosted its holdings in Teledyne Technologies by 192.3% during the fourth quarter. Ancora Advisors LLC now owns 76 shares of the scientific and technical instruments company's stock worth $35,000 after purchasing an additional 50 shares during the last quarter. Millstone Evans Group LLC acquired a new position in Teledyne Technologies during the fourth quarter worth $42,000. Finally, Newbridge Financial Services Group Inc. bought a new position in Teledyne Technologies in the fourth quarter valued at $46,000. 91.58% of the stock is owned by institutional investors and hedge funds.

Teledyne Technologies Stock Performance

NYSE:TDY traded up $2.47 during mid-day trading on Friday, hitting $498.67. The stock had a trading volume of 340,506 shares, compared to its average volume of 259,921. Teledyne Technologies Incorporated has a twelve month low of $380.63 and a twelve month high of $522.50. 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 stock has a market cap of $23.37 billion, a price-to-earnings ratio of 28.94, a PEG ratio of 3.14 and a beta of 1.06. The company's 50 day simple moving average is $477.51 and its 200 day simple moving average is $481.36.

Teledyne Technologies (NYSE:TDY - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The scientific and technical instruments company reported $4.95 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.92 by $0.03. The company had revenue of $1.45 billion during the quarter, compared to analysts' expectations 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% on a year-over-year basis. During the same period last year, the firm posted $4.55 earnings per share. On average, equities research analysts forecast that Teledyne Technologies Incorporated will post 21.55 earnings per share for the current year.

Insiders Place Their Bets

In other Teledyne Technologies news, Vice Chairman Jason Vanwees sold 3,700 shares of the firm's stock in a transaction that occurred on 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 directly owns 51,324 shares in the company, valued at $26,691,559.44. This trade represents a 6.72% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Melanie Susan Cibik sold 706 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $519.96, for a total value of $367,091.76. Following the sale, the executive vice president now owns 26,529 shares of the company's stock, valued at approximately $13,794,018.84. This represents a 2.59% decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.50% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on TDY. Needham & Company LLC decreased their price objective on Teledyne Technologies from $585.00 to $550.00 and set a "buy" rating for the company in a report on Thursday, April 24th. StockNews.com raised Teledyne Technologies from a "hold" rating to a "buy" rating in a research report on Friday, May 9th. Bank of America boosted their price target on Teledyne Technologies from $550.00 to $600.00 and gave the stock a "buy" rating in a research report on Monday, March 17th. Finally, TD Securities reissued a "buy" rating and issued a $550.00 price objective on shares of Teledyne Technologies in a report on Thursday, April 24th. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Teledyne Technologies presently has a consensus rating of "Buy" and a consensus target price of $542.50.

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.