Teledyne Technologies Incorporated (NYSE:TDY) Shares Sold by Hartford Investment Management Co.

Posted by on Apr 1st, 2023

Hartford Investment Management Co. trimmed its holdings in shares of Teledyne Technologies Incorporated (NYSE:TDY – Get Rating) by 24.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,414 shares of the scientific and technical instruments company’s stock after selling 1,078 shares during the period. Hartford Investment Management Co.’s holdings in Teledyne Technologies were worth $1,365,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Quadrant Capital Group LLC increased its holdings in shares of Teledyne Technologies by 11.3% during the third quarter. Quadrant Capital Group LLC now owns 325 shares of the scientific and technical instruments company’s stock valued at $110,000 after purchasing an additional 33 shares during the period. National Bank of Canada FI increased its holdings in shares of Teledyne Technologies by 461.4% during the third quarter. National Bank of Canada FI now owns 39,676 shares of the scientific and technical instruments company’s stock valued at $13,516,000 after purchasing an additional 32,609 shares during the period. Ieq Capital LLC acquired a new position in Teledyne Technologies during the third quarter worth about $440,000. Raymond James Financial Services Advisors Inc. grew its holdings in Teledyne Technologies by 13.4% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 1,799 shares of the scientific and technical instruments company’s stock worth $607,000 after acquiring an additional 212 shares during the period. Finally, AlphaCrest Capital Management LLC grew its holdings in Teledyne Technologies by 5.7% during the third quarter. AlphaCrest Capital Management LLC now owns 1,939 shares of the scientific and technical instruments company’s stock worth $654,000 after acquiring an additional 105 shares during the period. 91.10% of the stock is owned by institutional investors and hedge funds.

Teledyne Technologies Trading Up 2.0 %

NYSE:TDY opened at $447.36 on Friday. The company has a quick ratio of 1.27, a current ratio of 1.85 and a debt-to-equity ratio of 0.44. Teledyne Technologies Incorporated has a 1-year low of $325.00 and a 1-year high of $493.97. The firm has a market capitalization of $21.02 billion, a price-to-earnings ratio of 27.06, a price-to-earnings-growth ratio of 3.34 and a beta of 1.08. The stock has a fifty day simple moving average of $428.06 and a 200 day simple moving average of $402.22.

Teledyne Technologies (NYSE:TDY – Get Rating) last released its quarterly earnings results on Wednesday, January 25th. The scientific and technical instruments company reported $4.94 earnings per share for the quarter, beating analysts’ consensus estimates of $4.54 by $0.40. Teledyne Technologies had a return on equity of 11.00% and a net margin of 14.45%. The business had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.41 billion. During the same quarter last year, the company posted $4.56 EPS. Teledyne Technologies’s revenue for the quarter was up 3.1% on a year-over-year basis. Sell-side analysts forecast that Teledyne Technologies Incorporated will post 19.18 earnings per share for the current year.

Insiders Place Their Bets

In other Teledyne Technologies news, VP Stephen Finis Blackwood sold 3,333 shares of the firm’s stock in a transaction dated Thursday, February 2nd. The stock was sold at an average price of $434.00, for a total transaction of $1,446,522.00. Following the completion of the sale, the vice president now directly owns 11,773 shares in the company, valued at approximately $5,109,482. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Robert Mehrabian sold 3,400 shares of Teledyne Technologies stock in a transaction dated Monday, March 6th. The stock was sold at an average price of $440.17, for a total transaction of $1,496,578.00. Following the completion of the sale, the chief executive officer now directly owns 196,052 shares in the company, valued at approximately $86,296,208.84. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Stephen Finis Blackwood sold 3,333 shares of Teledyne Technologies stock in a transaction dated Thursday, February 2nd. The shares were sold at an average price of $434.00, for a total value of $1,446,522.00. Following the sale, the vice president now owns 11,773 shares of the company’s stock, valued at $5,109,482. The disclosure for this sale can be found here. In the last ninety days, insiders sold 24,210 shares of company stock worth $10,428,074. 2.14% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

TDY has been the topic of a number of research analyst reports. Needham & Company LLC lifted their target price on Teledyne Technologies from $472.00 to $498.00 and gave the stock a “buy” rating in a report on Thursday, January 26th. StockNews.com initiated coverage on Teledyne Technologies in a report on Thursday, March 16th. They set a “hold” rating on the stock. Credit Suisse Group initiated coverage on Teledyne Technologies in a report on Monday, December 12th. They set an “outperform” rating and a $503.00 target price on the stock. Finally, Morgan Stanley raised Teledyne Technologies from an “underweight” rating to an “equal weight” rating and lifted their target price for the stock from $445.00 to $488.00 in a report on Monday, December 12th. Two investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $496.33.

Teledyne Technologies Company Profile

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Teledyne Technologies, Inc engages in the provision of electronic and communication products for wireless and satellite systems. It operates through the following business segments: Instrumentation, Digital Imaging, Aerospace and Defense Electronics, and Engineered Systems. The Instrumentation segment provides monitoring and control instruments for marine, environmental, industrial, and other applications, and electronic test and measurement equipment.

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

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