Cibc World Markets Corp Buys 909 Shares of Teledyne Technologies Incorporated (NYSE:TDY)

Cibc World Markets Corp increased its position in Teledyne Technologies Incorporated (NYSE:TDY - Free Report) by 14.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,335 shares of the scientific and technical instruments company's stock after acquiring an additional 909 shares during the quarter. Cibc World Markets Corp's holdings in Teledyne Technologies were worth $3,404,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of TDY. Brooklyn Investment Group acquired a new position in shares of Teledyne Technologies during the 3rd quarter worth about $32,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Teledyne Technologies during the third quarter worth approximately $39,000. Newbridge Financial Services Group Inc. acquired a new position in shares of Teledyne Technologies during the fourth quarter worth approximately $46,000. Tortoise Investment Management LLC boosted its position in shares of Teledyne Technologies by 63.2% in the fourth quarter. Tortoise Investment Management LLC now owns 124 shares of the scientific and technical instruments company's stock valued at $58,000 after acquiring an additional 48 shares during the period. Finally, Private Trust Co. NA grew its stake in shares of Teledyne Technologies by 43.0% in the fourth quarter. Private Trust Co. NA now owns 173 shares of the scientific and technical instruments company's stock worth $80,000 after acquiring an additional 52 shares during the last quarter. Institutional investors and hedge funds own 91.58% of the company's stock.

Teledyne Technologies Price Performance

Shares of Teledyne Technologies stock traded up $5.15 during trading on Tuesday, hitting $512.85. 220,595 shares of the company's stock traded hands, compared to its average volume of 243,440. Teledyne Technologies Incorporated has a twelve month low of $355.41 and a twelve month high of $522.50. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.33 and a quick ratio of 1.61. The company has a market cap of $24.02 billion, a PE ratio of 29.76, a PEG ratio of 3.14 and a beta of 1.03. The firm's fifty day moving average price is $498.18 and its 200 day moving average price is $472.92.

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Teledyne Technologies (NYSE:TDY - Get Free Report) last released its quarterly earnings data 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. The company had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.45 billion. Teledyne Technologies had a return on equity of 9.94% and a net margin of 14.45%. The company's revenue was up 5.4% compared to the same quarter last year. During the same period in the prior year, the company posted $5.44 EPS. Analysts forecast that Teledyne Technologies Incorporated will post 21.55 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on TDY shares. Needham & Company LLC reissued a "buy" rating and issued a $585.00 price target on shares of Teledyne Technologies in a report on Wednesday, February 5th. Bank of America lifted their target price on Teledyne Technologies from $550.00 to $600.00 and gave the stock a "buy" rating in a research report on Monday, March 17th. Finally, UBS Group assumed coverage on Teledyne Technologies in a report on Tuesday, December 10th. They issued a "buy" rating and a $585.00 price target for the company. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $548.00.

Insiders Place Their Bets

In other Teledyne Technologies news, COO George C. Bobb III sold 6,308 shares of the company's stock in a transaction dated Friday, January 24th. The shares were 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 directly owns 10,482 shares of the company's stock, valued at approximately $5,322,445.14. This represents a 37.57 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Cynthia Y. Belak sold 5,745 shares of the stock in a transaction that occurred on 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 sale, the vice president now owns 4,962 shares in the company, valued at approximately $2,522,383.08. This trade represents a 53.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 34,571 shares of company stock worth $17,709,721 over the last three months. 2.14% of the stock is currently owned by corporate insiders.

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.