Bryce Point Capital LLC Makes New Investment in Teledyne Technologies Incorporated (NYSE:TDY)

Bryce Point Capital LLC purchased a new stake in shares of Teledyne Technologies Incorporated (NYSE:TDY - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 1,078 shares of the scientific and technical instruments company's stock, valued at approximately $500,000.

A number of other large investors have also recently bought and sold shares of TDY. Vanguard Group Inc. raised its position in shares of Teledyne Technologies by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 5,612,484 shares of the scientific and technical instruments company's stock valued at $2,604,922,000 after buying an additional 46,479 shares during the last quarter. State Street Corp grew its position in Teledyne Technologies by 1.9% during the 3rd quarter. State Street Corp now owns 2,040,896 shares of the scientific and technical instruments company's stock worth $893,219,000 after purchasing an additional 37,884 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Teledyne Technologies by 2.4% during the third quarter. Geode Capital Management LLC now owns 1,192,019 shares of the scientific and technical instruments company's stock worth $520,335,000 after purchasing an additional 28,224 shares during the period. JPMorgan Chase & Co. grew its holdings in Teledyne Technologies by 6.0% during the third quarter. JPMorgan Chase & Co. now owns 1,150,065 shares of the scientific and technical instruments company's stock worth $503,338,000 after acquiring an additional 64,617 shares during the period. Finally, Norges Bank purchased a new position in Teledyne Technologies in the fourth quarter valued at about $306,042,000. Hedge funds and other institutional investors own 91.58% of the company's stock.

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Insider Buying and Selling

In related news, COO George C. Bobb III sold 6,308 shares of the stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $507.77, for a total transaction of $3,203,013.16. Following the sale, the chief operating officer now owns 10,482 shares of the company's stock, valued at approximately $5,322,445.14. This represents a 37.57 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Cynthia Y. Belak sold 5,745 shares of the business's stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $508.34, for a total value of $2,920,413.30. Following the transaction, the vice president now directly owns 4,962 shares of the company's stock, valued at $2,522,383.08. The trade was a 53.66 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 34,571 shares of company stock valued at $17,709,721 over the last quarter. Insiders own 1.50% of the company's stock.

Analysts Set New Price Targets

Several research firms have commented on TDY. Needham & Company LLC restated a "buy" rating and issued a $585.00 price target on shares of Teledyne Technologies in a report on Wednesday, February 5th. StockNews.com lowered shares of Teledyne Technologies from a "buy" rating to a "hold" rating in a research note on Wednesday, April 2nd. UBS Group began coverage on Teledyne Technologies in a research note on Tuesday, December 10th. They set a "buy" rating and a $585.00 price target for the company. Finally, Bank of America increased their price target on Teledyne Technologies from $550.00 to $600.00 and gave the company a "buy" rating in a research report on Monday, March 17th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Teledyne Technologies has an average rating of "Moderate Buy" and an average price target of $548.00.

Teledyne Technologies Stock Up 7.5 %

Shares of TDY stock traded up $32.63 on Wednesday, hitting $468.17. 416,156 shares of the stock were exchanged, compared to its average volume of 257,593. The firm has a market capitalization of $21.93 billion, a P/E ratio of 27.17, a price-to-earnings-growth ratio of 3.14 and a beta of 1.03. Teledyne Technologies Incorporated has a fifty-two week low of $355.41 and a fifty-two week high of $522.50. The business has a 50-day moving average of $492.94 and a 200 day moving average of $476.98. 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 - Get Free Report) last released its quarterly earnings results on Wednesday, January 22nd. The scientific and technical instruments company reported $5.52 earnings per share for the quarter, beating the consensus estimate of $5.23 by $0.29. Teledyne Technologies had a net margin of 14.45% and a return on equity of 9.94%. The firm had revenue of $1.50 billion for the quarter, compared to analysts' expectations of $1.45 billion. During the same period in the prior year, the firm earned $5.44 EPS. The business's revenue was up 5.4% on a year-over-year basis. Equities analysts anticipate that Teledyne Technologies Incorporated will post 21.55 EPS for the current 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.