Soros Fund Management LLC Has $7.29 Million Stock Position in Teledyne Technologies Incorporated (NYSE:TDY)

Soros Fund Management LLC cut its stake in shares of Teledyne Technologies Incorporated (NYSE:TDY - Free Report) by 12.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,706 shares of the scientific and technical instruments company's stock after selling 2,293 shares during the period. Soros Fund Management LLC's holdings in Teledyne Technologies were worth $7,290,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of TDY. LPL Financial LLC lifted its stake in 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 buying an additional 2,224 shares in the last quarter. Amundi lifted its position in shares of Teledyne Technologies by 11.9% in the 4th 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 stake in Teledyne Technologies by 25.1% in the 4th quarter. Covea Finance now owns 21,400 shares of the scientific and technical instruments company's stock worth $9,932,000 after purchasing an additional 4,300 shares during the period. ING Groep NV boosted its stake in Teledyne Technologies by 144.9% in the 4th 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 during the period. Finally, JPMorgan Chase & Co. grew 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 worth $503,338,000 after purchasing an additional 64,617 shares in the last quarter. 91.58% of the stock is owned by hedge funds and other institutional investors.

Teledyne Technologies Stock Up 2.7 %

TDY stock traded up $12.51 during mid-day trading on Friday, hitting $478.77. The stock had a trading volume of 369,492 shares, compared to its average volume of 255,767. Teledyne Technologies Incorporated has a 1-year low of $380.63 and a 1-year high of $522.50. The company has a fifty day moving average of $479.70 and a 200 day moving average of $478.98. The company has a current ratio of 2.33, a quick ratio of 1.61 and a debt-to-equity ratio of 0.28. The stock has a market capitalization of $22.42 billion, a price-to-earnings ratio of 27.79, a PEG ratio of 3.14 and a beta of 1.03.

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 EPS for the quarter, topping analysts' consensus estimates of $4.92 by $0.03. The firm had revenue of $1.45 billion for 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 firm's revenue was up 7.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $4.55 earnings per share. On average, equities analysts expect that Teledyne Technologies Incorporated will post 21.55 EPS for the current fiscal year.

Insider Buying and Selling

In other Teledyne Technologies news, EVP Melanie Susan Cibik sold 706 shares of the company'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 transaction 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 represents a 2.59 % decrease in their ownership of the stock. 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 Teledyne Technologies 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 transaction, the insider now directly owns 51,324 shares in the company, valued at approximately $26,691,559.44. This represents a 6.72 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 9,413 shares of company stock worth $4,846,536. Corporate insiders own 1.50% of the company's stock.

Analyst Upgrades and Downgrades

TDY has been the subject of several recent analyst reports. Bank of America raised their target price on Teledyne Technologies from $550.00 to $600.00 and gave the stock a "buy" rating in a research report on Monday, March 17th. StockNews.com cut Teledyne Technologies from a "buy" rating to a "hold" rating in a research note on Monday. TD Securities reiterated a "buy" rating and issued a $550.00 target price on shares of Teledyne Technologies in a report on Thursday, April 24th. Finally, Needham & Company LLC decreased their price target on shares of Teledyne Technologies from $585.00 to $550.00 and set a "buy" rating for the company in a report on Thursday, April 24th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average 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.