Earnest Partners LLC cut its holdings in Teledyne Technologies Incorporated (NYSE:TDY) by 3.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 608,965 shares of the scientific and technical instruments company’s stock after selling 22,447 shares during the period. Teledyne Technologies makes up 1.1% of Earnest Partners LLC’s portfolio, making the stock its 24th largest position. Earnest Partners LLC’s holdings in Teledyne Technologies were worth $110,314,000 as of its most recent SEC filing.
A number of other institutional investors have also bought and sold shares of TDY. Aperio Group LLC raised its stake in shares of Teledyne Technologies by 4.5% during the third quarter. Aperio Group LLC now owns 10,138 shares of the scientific and technical instruments company’s stock valued at $1,614,000 after acquiring an additional 440 shares during the last quarter. Crossmark Global Holdings Inc. bought a new position in shares of Teledyne Technologies during the third quarter valued at about $780,000. Victory Capital Management Inc. bought a new position in shares of Teledyne Technologies during the third quarter valued at about $19,150,000. Dupont Capital Management Corp bought a new position in shares of Teledyne Technologies during the third quarter valued at about $673,000. Finally, State Board of Administration of Florida Retirement System raised its stake in shares of Teledyne Technologies by 32.1% during the third quarter. State Board of Administration of Florida Retirement System now owns 16,911 shares of the scientific and technical instruments company’s stock valued at $2,692,000 after acquiring an additional 4,110 shares during the last quarter. 85.03% of the stock is owned by institutional investors and hedge funds.
A number of equities analysts recently issued reports on TDY shares. ValuEngine raised shares of Teledyne Technologies from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. Zacks Investment Research raised shares of Teledyne Technologies from a “hold” rating to a “buy” rating and set a $213.00 price target for the company in a research note on Tuesday, February 6th. Finally, Needham & Company LLC increased their price target on shares of Teledyne Technologies to $205.00 and gave the stock a “buy” rating in a research note on Wednesday, January 24th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $196.00.
Teledyne Technologies (NYSE:TDY) last released its quarterly earnings results on Thursday, February 1st. The scientific and technical instruments company reported $1.95 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.74 by $0.21. Teledyne Technologies had a net margin of 8.73% and a return on equity of 14.07%. The company had revenue of $704.40 million during the quarter, compared to the consensus estimate of $669.25 million. During the same period in the prior year, the firm earned $1.64 earnings per share. Teledyne Technologies’s revenue was up 27.4% on a year-over-year basis. analysts anticipate that Teledyne Technologies Incorporated will post 7.55 EPS for the current year.
In related news, Director Charles Crocker sold 4,000 shares of the stock in a transaction dated Monday, March 5th. The shares were sold at an average price of $183.00, for a total value of $732,000.00. Following the completion of the transaction, the director now directly owns 47,488 shares of the company’s stock, valued at $8,690,304. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman Robert Mehrabian sold 35,000 shares of the company’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $192.92, for a total transaction of $6,752,200.00. Following the completion of the sale, the chairman now owns 284,072 shares in the company, valued at approximately $54,803,170.24. The disclosure for this sale can be found here. Over the last three months, insiders sold 53,452 shares of company stock valued at $10,162,286. 3.73% of the stock is owned by insiders.
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About Teledyne Technologies
Teledyne Technologies Incorporated provides enabling technologies for industrial growth markets. The Company’s segments include Instrumentation, Digital Imaging, Aerospace and Defense Electronics, and Engineered Systems. Instrumentation segment provides monitoring and control instruments for marine, environmental, industrial and other applications, as well as electronic test and measurement equipment.
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