Marks Group Wealth Management Inc Lowers Stock Position in Teledyne Technologies Incorporated (NYSE:TDY)

Marks Group Wealth Management Inc decreased its holdings in shares of Teledyne Technologies Incorporated (NYSE:TDY) by 3.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 18,085 shares of the scientific and technical instruments company’s stock after selling 741 shares during the period. Marks Group Wealth Management Inc’s holdings in Teledyne Technologies were worth $8,394,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of TDY. Wolff Wiese Magana LLC purchased a new stake in Teledyne Technologies during the third quarter worth about $27,000. Brooklyn Investment Group acquired a new stake in shares of Teledyne Technologies during the 3rd quarter valued at approximately $32,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Teledyne Technologies during the 3rd quarter worth approximately $39,000. Newbridge Financial Services Group Inc. acquired a new stake in shares of Teledyne Technologies in the 4th quarter worth approximately $46,000. Finally, Exchange Traded Concepts LLC increased its stake in Teledyne Technologies by 432.0% in the 3rd quarter. Exchange Traded Concepts LLC now owns 133 shares of the scientific and technical instruments company’s stock valued at $58,000 after purchasing an additional 108 shares in the last quarter. 91.58% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Needham & Company LLC reiterated a “buy” rating and set a $585.00 target price on shares of Teledyne Technologies in a research report on Wednesday, February 5th. Bank of America upgraded shares of Teledyne Technologies from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $450.00 to $550.00 in a research report on Friday, November 8th. UBS Group initiated coverage on shares of Teledyne Technologies in a report on Tuesday, December 10th. They set a “buy” rating and a $585.00 target price for the company. Finally, TD Cowen upped their price target on shares of Teledyne Technologies from $450.00 to $500.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $538.00.

Insiders Place Their Bets

In other Teledyne Technologies news, Chairman Robert Mehrabian sold 5,007 shares of the firm’s stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $510.33, for a total value of $2,555,222.31. Following the sale, the chairman now directly owns 144,553 shares of the company’s stock, valued at approximately $73,769,732.49. This trade represents a 3.35 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Michael T. Smith sold 2,025 shares of the company’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $478.25, for a total transaction of $968,456.25. Following the transaction, the director now directly owns 54,935 shares of the company’s stock, valued at approximately $26,272,663.75. This represents a 3.56 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 32,190 shares of company stock valued at $16,386,864. Company insiders own 2.14% of the company’s stock.

Teledyne Technologies Stock Down 0.5 %

TDY opened at $508.78 on Wednesday. The business’s fifty day simple moving average is $481.11 and its 200 day simple moving average is $456.31. Teledyne Technologies Incorporated has a 52 week low of $355.41 and a 52 week high of $522.50. The firm has a market cap of $23.71 billion, a P/E ratio of 29.53, a PEG ratio of 3.19 and a beta of 1.03. The company has a quick ratio of 1.61, a current ratio of 2.33 and a debt-to-equity ratio of 0.28.

Teledyne Technologies (NYSE:TDY) last released its quarterly earnings results on Wednesday, January 22nd. The scientific and technical instruments company reported $5.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.23 by $0.29. The company had revenue of $1.50 billion for the quarter, compared to analysts’ expectations of $1.45 billion. Teledyne Technologies had a net margin of 14.45% and a return on equity of 9.94%. The firm’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same period last year, the company earned $5.44 EPS. As a group, equities research analysts anticipate that Teledyne Technologies Incorporated will post 21.59 EPS for the current fiscal year.

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.