Alliancebernstein L.P. Purchases 9,594 Shares of Teledyne Technologies Incorporated (NYSE:TDY)

Alliancebernstein L.P. lifted its position in Teledyne Technologies Incorporated (NYSE:TDY) by 17.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 63,580 shares of the scientific and technical instruments company’s stock after buying an additional 9,594 shares during the period. Alliancebernstein L.P. owned about 0.14% of Teledyne Technologies worth $29,509,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in TDY. Norges Bank bought a new position in Teledyne Technologies in the 4th quarter valued at approximately $306,042,000. Madison Investment Advisors LLC purchased a new stake in shares of Teledyne Technologies during the fourth quarter valued at $94,721,000. Raymond James Financial Inc. purchased a new stake in shares of Teledyne Technologies during the fourth quarter valued at $53,304,000. JPMorgan Chase & Co. increased its holdings in Teledyne Technologies by 6.0% in 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 buying an additional 64,617 shares in the last quarter. Finally, Diamond Hill Capital Management Inc. purchased a new position in Teledyne Technologies in the 4th quarter worth about $29,348,000. Hedge funds and other institutional investors own 91.58% of the company’s stock.

Teledyne Technologies Stock Down 7.5 %

TDY opened at $436.32 on Monday. The firm’s 50 day simple moving average is $499.21 and its two-hundred day simple moving average is $477.07. The company has a market capitalization of $20.44 billion, a PE ratio of 25.32, a PEG ratio of 3.14 and a beta of 1.03. Teledyne Technologies Incorporated has a 1-year low of $355.41 and a 1-year high of $522.50. The company has a current ratio of 2.33, a quick ratio of 1.61 and a debt-to-equity ratio of 0.28.

Teledyne Technologies (NYSE:TDY) last announced its earnings results on Wednesday, January 22nd. The scientific and technical instruments company reported $5.52 EPS for the quarter, topping analysts’ consensus estimates of $5.23 by $0.29. Teledyne Technologies had a return on equity of 9.94% and a net margin of 14.45%. The company had revenue of $1.50 billion for the quarter, compared to analysts’ expectations of $1.45 billion. During the same period last year, the firm earned $5.44 EPS. Teledyne Technologies’s revenue for the quarter was up 5.4% compared to the same quarter last year. As a group, equities analysts forecast that Teledyne Technologies Incorporated will post 21.55 EPS for the current year.

Insider Activity at Teledyne Technologies

In other news, Director Michael T. Smith sold 2,100 shares of the business’s stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $510.50, for a total value of $1,072,050.00. Following the transaction, the director now directly owns 52,835 shares in the company, valued at $26,972,267.50. The trade was a 3.82 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Robert Mehrabian sold 5,768 shares of the company’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $518.22, for a total value of $2,989,092.96. Following the completion of the transaction, the chairman now directly owns 144,553 shares of the company’s stock, valued at approximately $74,910,255.66. This trade represents a 3.84 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 34,571 shares of company stock worth $17,709,721. 1.50% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. UBS Group initiated coverage on shares of Teledyne Technologies in a research note on Tuesday, December 10th. They issued a “buy” rating and a $585.00 price target for the company. StockNews.com lowered shares of Teledyne Technologies from a “buy” rating to a “hold” rating in a research note on Wednesday, April 2nd. Needham & Company LLC reissued a “buy” rating and set a $585.00 price target on shares of Teledyne Technologies in a report on Wednesday, February 5th. Finally, Bank of America lifted their price objective on Teledyne Technologies from $550.00 to $600.00 and gave the stock a “buy” rating in a report on Monday, March 17th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $548.00.

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.