Allspring Global Investments Holdings LLC Sells 65,224 Shares of Teledyne Technologies Incorporated (NYSE:TDY)

Allspring Global Investments Holdings LLC lowered its stake in shares of Teledyne Technologies Incorporated (NYSE:TDY - Free Report) by 13.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 422,772 shares of the scientific and technical instruments company's stock after selling 65,224 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.90% of Teledyne Technologies worth $188,679,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Householder Group Estate & Retirement Specialist LLC bought a new position in shares of Teledyne Technologies during the 3rd quarter worth about $28,000. Bruce G. Allen Investments LLC bought a new position in Teledyne Technologies during the fourth quarter valued at about $28,000. Benjamin Edwards Inc. raised its holdings in Teledyne Technologies by 137.9% in the 2nd quarter. Benjamin Edwards Inc. now owns 69 shares of the scientific and technical instruments company's stock valued at $28,000 after acquiring an additional 40 shares in the last quarter. CVA Family Office LLC acquired a new stake in shares of Teledyne Technologies during the 4th quarter worth approximately $31,000. Finally, Cary Street Partners Investment Advisory LLC bought a new stake in shares of Teledyne Technologies during the third quarter valued at approximately $44,000. Institutional investors own 91.58% of the company's stock.

Analysts Set New Price Targets

A number of research firms have weighed in on TDY. StockNews.com upgraded shares of Teledyne Technologies from a "hold" rating to a "buy" rating in a research note on Saturday, February 10th. Needham & Company LLC lowered their target price on shares of Teledyne Technologies from $522.00 to $510.00 and set a "buy" rating on the stock in a research note on Wednesday, January 24th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $515.67.

Teledyne Technologies Price Performance

Shares of TDY traded down $2.29 during trading hours on Monday, hitting $414.57. The stock had a trading volume of 275,571 shares, compared to its average volume of 210,209. The stock has a market capitalization of $19.64 billion, a price-to-earnings ratio of 22.41, a P/E/G ratio of 2.68 and a beta of 1.02. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.69 and a quick ratio of 1.17. The company's fifty day moving average is $425.58 and its two-hundred day moving average is $415.55. Teledyne Technologies Incorporated has a 52 week low of $364.98 and a 52 week high of $448.19.

Teledyne Technologies (NYSE:TDY - Get Free Report) last issued its quarterly earnings data on Wednesday, January 24th. The scientific and technical instruments company reported $5.44 earnings per share for the quarter, topping the consensus estimate of $5.04 by $0.40. Teledyne Technologies had a net margin of 15.72% and a return on equity of 10.81%. The firm had revenue of $1.43 billion for the quarter, compared to analysts' expectations of $1.46 billion. During the same period in the prior year, the firm earned $4.94 earnings per share. The company's quarterly revenue was up .5% compared to the same quarter last year. On average, analysts anticipate that Teledyne Technologies Incorporated will post 20.56 EPS for the current year.

Insider Activity at Teledyne Technologies

In related news, Director Simon M. Lorne sold 2,200 shares of the company's stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $426.70, for a total transaction of $938,740.00. Following the transaction, the director now owns 67,288 shares in the company, valued at approximately $28,711,789.60. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Teledyne Technologies news, Director Kenneth C. Dahlberg sold 4,000 shares of the company's stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $432.91, for a total transaction of $1,731,640.00. Following the transaction, the director now directly owns 18,735 shares in the company, valued at approximately $8,110,568.85. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Simon M. Lorne sold 2,200 shares of the firm's stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $426.70, for a total transaction of $938,740.00. Following the completion of the transaction, the director now directly owns 67,288 shares in the company, valued at approximately $28,711,789.60. The disclosure for this sale can be found here. Insiders sold 6,711 shares of company stock valued at $2,890,621 in the last three months. Corporate insiders own 2.14% of the company's stock.

Teledyne Technologies Company Profile

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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