Independent Advisor Alliance Acquires New Holdings in Teledyne Technologies Incorporated (NYSE:TDY)

Independent Advisor Alliance purchased a new stake in shares of Teledyne Technologies Incorporated (NYSE:TDY - Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 540 shares of the scientific and technical instruments company's stock, valued at approximately $251,000.

A number of other large investors have also added to or reduced their stakes in TDY. Victory Capital Management Inc. grew its holdings in Teledyne Technologies by 1.8% during the 3rd quarter. Victory Capital Management Inc. now owns 31,436 shares of the scientific and technical instruments company's stock valued at $13,758,000 after purchasing an additional 563 shares in the last quarter. OneDigital Investment Advisors LLC grew its holdings in Teledyne Technologies by 2.4% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 1,766 shares of the scientific and technical instruments company's stock valued at $773,000 after purchasing an additional 42 shares in the last quarter. Empowered Funds LLC grew its holdings in Teledyne Technologies by 38.1% during the 3rd quarter. Empowered Funds LLC now owns 851 shares of the scientific and technical instruments company's stock valued at $372,000 after purchasing an additional 235 shares in the last quarter. Swiss National Bank grew its holdings in Teledyne Technologies by 0.4% during the 3rd quarter. Swiss National Bank now owns 140,818 shares of the scientific and technical instruments company's stock valued at $61,630,000 after purchasing an additional 500 shares in the last quarter. Finally, Baron Wealth Management LLC acquired a new stake in Teledyne Technologies during the 3rd quarter valued at $211,000. 91.58% of the stock is owned by institutional investors and hedge funds.

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Wall Street Analyst Weigh In

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

Insider Transactions at Teledyne Technologies

In other news, Chairman Robert Mehrabian sold 5,768 shares of the firm's stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $518.22, for a total value of $2,989,092.96. Following the transaction, the chairman now directly owns 144,553 shares in the company, valued at approximately $74,910,255.66. This trade represents a 3.84 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Vice Chairman Jason Vanwees sold 3,700 shares of the firm's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $520.06, for a total transaction of $1,924,222.00. Following the completion of the transaction, the insider now owns 51,324 shares in the company, valued at approximately $26,691,559.44. The trade was a 6.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 34,571 shares of company stock worth $17,709,721. 2.14% of the stock is currently owned by insiders.

Teledyne Technologies Stock Up 0.7 %

TDY stock traded up $3.44 during mid-day trading on Friday, hitting $502.73. 653,569 shares of the company were exchanged, compared to its average volume of 243,267. The company has a market capitalization of $23.55 billion, a PE ratio of 29.18, a price-to-earnings-growth ratio of 3.14 and a beta of 1.03. 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 Incorporated has a twelve month low of $355.41 and a twelve month high of $522.50. The firm has a fifty day simple moving average of $497.26 and a 200 day simple moving average of $472.08.

Teledyne Technologies (NYSE:TDY - Get Free Report) last posted its quarterly earnings results on Wednesday, January 22nd. The scientific and technical instruments company reported $5.52 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.23 by $0.29. Teledyne Technologies had a net margin of 14.45% and a return on equity of 9.94%. The company had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.45 billion. During the same period last year, the firm posted $5.44 EPS. The company's revenue for the quarter was up 5.4% on a year-over-year basis. On average, research analysts forecast that Teledyne Technologies Incorporated will post 21.55 earnings per share for the current fiscal year.

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.