Martingale Asset Management L P Makes New Investment in Teledyne Technologies Incorporated (NYSE:TDY)

Martingale Asset Management L P purchased a new stake in Teledyne Technologies Incorporated (NYSE:TDY - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 6,169 shares of the scientific and technical instruments company's stock, valued at approximately $2,863,000.

Several other hedge funds and other institutional investors have also modified their holdings of TDY. Hurley Capital LLC bought a new stake in Teledyne Technologies in the fourth quarter valued at approximately $33,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Teledyne Technologies in the third quarter valued at about $39,000. Millstone Evans Group LLC acquired a new position in shares of Teledyne Technologies in the 4th quarter valued at $42,000. Newbridge Financial Services Group Inc. acquired a new stake in Teledyne Technologies in the fourth quarter valued at approximately $46,000. Finally, Tortoise Investment Management LLC raised its position in shares of Teledyne Technologies by 63.2% during the 4th 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 during the period. Institutional investors own 91.58% of the company's stock.

Insider Transactions at Teledyne Technologies

In related news, EVP Melanie Susan Cibik sold 706 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The stock was 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 owns 26,529 shares in the company, valued at $13,794,018.84. The trade was a 2.59 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Vice Chairman Jason Vanwees sold 3,700 shares of the company's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $520.06, for a total value of $1,924,222.00. Following the completion of the transaction, the insider now owns 51,324 shares of the company's stock, valued at $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. Insiders sold 34,571 shares of company stock valued at $17,709,721 over the last three months. Company insiders own 1.50% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Bank of America upped their target price on Teledyne Technologies from $550.00 to $600.00 and gave the company a "buy" rating in a research note on Monday, March 17th. Needham & Company LLC reaffirmed a "buy" rating and issued a $585.00 price target on shares of Teledyne Technologies in a research report on Wednesday, February 5th. Finally, StockNews.com cut Teledyne Technologies from a "buy" rating to a "hold" rating in a report on Wednesday, April 2nd. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $548.00.

Teledyne Technologies Stock Performance

Shares of NYSE TDY traded down $4.76 during midday trading on Wednesday, hitting $463.86. 51,202 shares of the company's stock were exchanged, compared to its average volume of 257,947. The stock's 50 day moving average price is $489.18 and its 200-day moving average price is $477.81. 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 firm has a market cap of $21.73 billion, a P/E ratio of 26.92, a PEG ratio of 3.14 and a beta of 1.03. Teledyne Technologies Incorporated has a twelve month low of $355.41 and a twelve month high of $522.50.

Teledyne Technologies (NYSE:TDY - Get Free Report) last issued its earnings results on Wednesday, January 22nd. The scientific and technical instruments company reported $5.52 earnings per share (EPS) 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 net margin of 14.45% and a return on equity of 9.94%. The company's revenue for the quarter was up 5.4% on a year-over-year basis. During the same quarter last year, the firm earned $5.44 EPS. Equities research analysts anticipate that Teledyne Technologies Incorporated will post 21.55 EPS for the current year.

Teledyne Technologies 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.