National Asset Management Inc. reduced its position in Teledyne Technologies Incorporated (NYSE:TDY) by 51.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 624 shares of the scientific and technical instruments company’s stock after selling 649 shares during the quarter. National Asset Management Inc.’s holdings in Teledyne Technologies were worth $246,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Wells Fargo & Company MN increased its holdings in shares of Teledyne Technologies by 34.6% in the third quarter. Wells Fargo & Company MN now owns 590,043 shares of the scientific and technical instruments company’s stock valued at $183,036,000 after purchasing an additional 151,708 shares during the period. Point72 Asset Management L.P. acquired a new position in shares of Teledyne Technologies in the third quarter valued at approximately $18,986,000. Great West Life Assurance Co. Can increased its holdings in shares of Teledyne Technologies by 178.0% in the third quarter. Great West Life Assurance Co. Can now owns 71,005 shares of the scientific and technical instruments company’s stock valued at $6,557,000 after purchasing an additional 45,463 shares during the period. Voloridge Investment Management LLC increased its holdings in shares of Teledyne Technologies by 134.0% in the third quarter. Voloridge Investment Management LLC now owns 73,155 shares of the scientific and technical instruments company’s stock valued at $22,693,000 after purchasing an additional 41,891 shares during the period. Finally, Schonfeld Strategic Advisors LLC increased its holdings in shares of Teledyne Technologies by 77.6% in the third quarter. Schonfeld Strategic Advisors LLC now owns 94,297 shares of the scientific and technical instruments company’s stock valued at $29,251,000 after purchasing an additional 41,214 shares during the period. 88.37% of the stock is owned by institutional investors.
NYSE:TDY opened at $405.91 on Friday. Teledyne Technologies Incorporated has a 52-week low of $195.34 and a 52-week high of $413.31. The company has a quick ratio of 1.74, a current ratio of 2.29 and a debt-to-equity ratio of 0.25. The stock has a fifty day simple moving average of $381.78 and a 200-day simple moving average of $352.67. The company has a market capitalization of $14.97 billion, a PE ratio of 39.83 and a beta of 1.08.
Separately, Needham & Company LLC upped their price objective on Teledyne Technologies from $365.00 to $395.00 and gave the stock a “buy” rating in a report on Tuesday, January 5th. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $365.00.
In other Teledyne Technologies news, Director Kenneth C. Dahlberg sold 5,507 shares of Teledyne Technologies stock in a transaction dated Friday, January 29th. The shares were sold at an average price of $366.69, for a total transaction of $2,019,361.83. Following the completion of the transaction, the director now owns 17,936 shares in the company, valued at $6,576,951.84. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Chairman Robert Mehrabian bought 10,000 shares of the business’s stock in a transaction on Friday, January 29th. The shares were acquired at an average price of $366.05 per share, with a total value of $3,660,500.00. The disclosure for this purchase can be found here. Insiders own 3.15% of the company’s stock.
About Teledyne Technologies
Teledyne Technologies Incorporated provides instrumentation, digital imaging, aerospace and defense electronics, and engineered systems in the United States, the United Kingdom, Canada, the Netherlands, and internationally. The company's Instrumentation segment offers monitoring and control instruments for marine, environmental, industrial, and other applications, as well as electronic test and measurement equipment; and power and communications connectivity devices for distributed instrumentation systems and sensor networks deployed in mission critical and harsh environments.
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