Massachusetts Financial Services Co. MA Trims Stake in Teledyne Technologies Incorporated (NYSE:TDY)

Massachusetts Financial Services Co. MA cut its position in shares of Teledyne Technologies Incorporated (NYSE:TDYFree Report) by 76.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 25,638 shares of the scientific and technical instruments company’s stock after selling 82,543 shares during the period. Massachusetts Financial Services Co. MA owned approximately 0.05% of Teledyne Technologies worth $11,442,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in TDY. Barclays PLC boosted its position in shares of Teledyne Technologies by 18.0% during the third quarter. Barclays PLC now owns 99,504 shares of the scientific and technical instruments company’s stock valued at $40,656,000 after buying an additional 15,169 shares during the period. First Citizens Bank & Trust Co. bought a new position in Teledyne Technologies in the 4th quarter valued at $2,325,000. Grandfield & Dodd LLC increased its stake in Teledyne Technologies by 11.2% in the fourth quarter. Grandfield & Dodd LLC now owns 30,894 shares of the scientific and technical instruments company’s stock worth $13,788,000 after purchasing an additional 3,111 shares during the period. BNP Paribas Financial Markets lifted its position in shares of Teledyne Technologies by 69.5% during the fourth quarter. BNP Paribas Financial Markets now owns 21,931 shares of the scientific and technical instruments company’s stock worth $9,788,000 after purchasing an additional 8,992 shares during the last quarter. Finally, Metis Global Partners LLC increased its stake in shares of Teledyne Technologies by 21.5% during the third quarter. Metis Global Partners LLC now owns 1,715 shares of the scientific and technical instruments company’s stock valued at $701,000 after buying an additional 303 shares during the period. 91.58% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Simon M. Lorne sold 2,200 shares of the company’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $426.70, for a total value of $938,740.00. Following the sale, the director now owns 67,288 shares in the company, valued at $28,711,789.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.14% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have issued reports on TDY. Needham & Company LLC dropped their target price on shares of Teledyne Technologies from $510.00 to $455.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. TD Cowen cut their price objective on shares of Teledyne Technologies from $475.00 to $450.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. StockNews.com downgraded Teledyne Technologies from a “buy” rating to a “hold” rating in a report on Thursday, April 25th. Finally, Bank of America downgraded shares of Teledyne Technologies from a “buy” rating to a “neutral” rating and cut their price objective for the company from $490.00 to $400.00 in a report on Friday, April 26th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $470.83.

Get Our Latest Stock Report on TDY

Teledyne Technologies Trading Up 1.0 %

Shares of NYSE:TDY opened at $406.43 on Friday. The company has a quick ratio of 1.29, a current ratio of 1.81 and a debt-to-equity ratio of 0.28. Teledyne Technologies Incorporated has a 52-week low of $355.41 and a 52-week high of $448.19. The stock has a market cap of $19.26 billion, a price-to-earnings ratio of 21.98, a PEG ratio of 2.80 and a beta of 1.04. The business has a 50-day moving average price of $405.71 and a 200-day moving average price of $414.28.

Teledyne Technologies (NYSE:TDYGet Free Report) last announced its quarterly earnings data on Wednesday, April 24th. The scientific and technical instruments company reported $4.55 EPS for the quarter, missing the consensus estimate of $4.63 by ($0.08). Teledyne Technologies had a net margin of 15.81% and a return on equity of 10.54%. The business had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.39 billion. During the same quarter in the previous year, the firm posted $4.53 earnings per share. The business’s revenue was down 2.4% on a year-over-year basis. Equities analysts predict that Teledyne Technologies Incorporated will post 19.61 EPS for the current year.

Teledyne Technologies Company Profile

(Free Report)

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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Institutional Ownership by Quarter for Teledyne Technologies (NYSE:TDY)

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