KLP Kapitalforvaltning AS Invests $11.53 Million in Teledyne Technologies Incorporated (NYSE:TDY)

KLP Kapitalforvaltning AS bought a new position in shares of Teledyne Technologies Incorporated (NYSE:TDY - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 24,840 shares of the scientific and technical instruments company's stock, valued at approximately $11,529,000. KLP Kapitalforvaltning AS owned approximately 0.05% of Teledyne Technologies at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Brooklyn Investment Group acquired a new stake in Teledyne Technologies during the 3rd quarter valued at approximately $32,000. Wilmington Savings Fund Society FSB purchased a new position in shares of Teledyne Technologies during the 3rd quarter valued at approximately $39,000. Millstone Evans Group LLC acquired a new stake in shares of Teledyne Technologies during the fourth quarter worth approximately $42,000. Newbridge Financial Services Group Inc. bought a new stake in shares of Teledyne Technologies in the fourth quarter worth $46,000. Finally, Tortoise Investment Management LLC raised 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 acquiring an additional 48 shares in the last quarter. 91.58% of the stock is currently owned by hedge funds and other institutional investors.

Teledyne Technologies Stock Performance

Teledyne Technologies stock traded down $12.13 during mid-day trading on Friday, hitting $494.78. 200,471 shares of the company's stock traded hands, compared to its average volume of 254,068. The company has a quick ratio of 1.61, a current ratio of 2.33 and a debt-to-equity ratio of 0.28. Teledyne Technologies Incorporated has a one year low of $355.41 and a one year high of $522.50. The firm has a 50 day moving average price of $501.03 and a 200 day moving average price of $474.53. The company has a market cap of $23.17 billion, a PE ratio of 28.72, a price-to-earnings-growth ratio of 3.14 and a beta of 1.03.

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

Wall Street Analyst Weigh In

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

Insider Activity at Teledyne Technologies

In other Teledyne Technologies news, VP Cynthia Y. Belak sold 5,745 shares of the business's stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $508.34, for a total value of $2,920,413.30. Following the sale, the vice president now directly owns 4,962 shares in the company, valued at approximately $2,522,383.08. The trade was a 53.66 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Melanie Susan Cibik sold 706 shares of the company's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $519.96, for a total transaction of $367,091.76. Following the completion of the sale, the executive vice president now directly owns 26,529 shares of the company's stock, valued at $13,794,018.84. The trade was a 2.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 34,571 shares of company stock worth $17,709,721 over the last quarter. 1.50% of the stock is currently owned by company 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.