Teledyne Technologies Incorporated (NYSE:TDY) Shares Purchased by FIL Ltd

FIL Ltd grew its position in shares of Teledyne Technologies Incorporated (NYSE:TDY - Free Report) by 72.8% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 260,187 shares of the scientific and technical instruments company's stock after buying an additional 109,615 shares during the quarter. FIL Ltd owned 0.56% of Teledyne Technologies worth $120,761,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Hurley Capital LLC acquired a new position in Teledyne Technologies during the fourth quarter worth $33,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Teledyne Technologies during the 3rd quarter worth $39,000. Millstone Evans Group LLC acquired a new stake in shares of Teledyne Technologies in the fourth quarter valued at about $42,000. Newbridge Financial Services Group Inc. purchased a new stake in Teledyne Technologies during the fourth quarter worth about $46,000. Finally, Tortoise Investment Management LLC increased its holdings in 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 buying an additional 48 shares in the last quarter. Institutional investors and hedge funds own 91.58% of the company's stock.

Teledyne Technologies Price Performance

Teledyne Technologies stock traded up $5.22 during mid-day trading on Monday, hitting $470.02. 83,947 shares of the company were exchanged, compared to its average volume of 257,687. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.33 and a quick ratio of 1.61. Teledyne Technologies Incorporated has a 12-month low of $355.41 and a 12-month high of $522.50. The business's 50 day simple moving average is $490.99 and its two-hundred day simple moving average is $477.66. The company has a market capitalization of $22.01 billion, a P/E ratio of 27.28, a PEG ratio of 3.14 and a beta of 1.03.

Teledyne Technologies (NYSE:TDY - Get Free Report) last announced its 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 during the quarter, compared to the consensus estimate of $1.45 billion. During the same quarter in the previous year, the company posted $5.44 EPS. The firm's revenue for the quarter was up 5.4% on a year-over-year basis. Analysts forecast that Teledyne Technologies Incorporated will post 21.55 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently commented on TDY. StockNews.com lowered 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 issued a $585.00 target price on shares of Teledyne Technologies in a report on Wednesday, February 5th. Finally, Bank of America lifted their price target on Teledyne Technologies from $550.00 to $600.00 and gave the stock a "buy" rating in a research note on Monday, March 17th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $548.00.

Insider Buying and Selling at Teledyne Technologies

In other Teledyne Technologies news, Chairman Robert Mehrabian sold 5,768 shares of Teledyne Technologies 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 sale, the chairman now owns 144,553 shares in the company, valued at $74,910,255.66. The trade was a 3.84 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, 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 transaction, the chief operating officer now owns 10,482 shares in the company, valued at approximately $5,322,445.14. The trade was a 37.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 34,571 shares of company stock worth $17,709,721. Insiders own 1.50% of the company's stock.

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.