Proficio Capital Partners LLC Acquires New Stake in Teledyne Technologies Incorporated (NYSE:TDY)

Proficio Capital Partners LLC acquired a new stake in shares of Teledyne Technologies Incorporated (NYSE:TDY - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 62,658 shares of the scientific and technical instruments company's stock, valued at approximately $29,081,000. Proficio Capital Partners LLC owned about 0.13% of Teledyne Technologies as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in TDY. Stratos Wealth Partners LTD. increased its stake in shares of Teledyne Technologies by 4.4% in the fourth quarter. Stratos Wealth Partners LTD. now owns 500 shares of the scientific and technical instruments company's stock valued at $232,000 after buying an additional 21 shares in the last quarter. Metis Global Partners LLC grew its holdings in Teledyne Technologies by 1.6% during the 3rd quarter. Metis Global Partners LLC now owns 1,514 shares of the scientific and technical instruments company's stock worth $663,000 after acquiring an additional 24 shares during the last quarter. Crumly & Associates Inc. increased its position in Teledyne Technologies by 3.8% in the 3rd quarter. Crumly & Associates Inc. now owns 677 shares of the scientific and technical instruments company's stock valued at $296,000 after acquiring an additional 25 shares in the last quarter. Raymond James Trust N.A. raised its stake in shares of Teledyne Technologies by 4.8% in the third quarter. Raymond James Trust N.A. now owns 550 shares of the scientific and technical instruments company's stock worth $241,000 after acquiring an additional 25 shares during the last quarter. Finally, New York Life Investment Management LLC raised its stake in shares of Teledyne Technologies by 0.4% in the fourth quarter. New York Life Investment Management LLC now owns 6,214 shares of the scientific and technical instruments company's stock worth $2,884,000 after acquiring an additional 25 shares during the last quarter. Institutional investors own 91.58% of the company's stock.

Teledyne Technologies Trading Up 0.3 %

NYSE TDY traded up $1.42 on Monday, reaching $516.44. The company had a trading volume of 77,372 shares, compared to its average volume of 244,649. 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 52 week low of $355.41 and a 52 week high of $522.50. The stock has a market cap of $24.19 billion, a price-to-earnings ratio of 29.98, a PEG ratio of 3.14 and a beta of 1.03. The stock's 50 day moving average is $488.76 and its 200-day moving average is $464.92.

Teledyne Technologies (NYSE:TDY - Get Free Report) last announced its quarterly earnings results 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 the consensus estimate of $1.45 billion. Teledyne Technologies had a net margin of 14.45% and a return on equity of 9.94%. Teledyne Technologies's revenue for the quarter was up 5.4% on a year-over-year basis. During the same period last year, the company posted $5.44 EPS. Equities analysts predict that Teledyne Technologies Incorporated will post 21.55 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on TDY. Bank of America raised shares of Teledyne Technologies from a "neutral" rating to a "buy" rating and raised their price target for the company from $450.00 to $550.00 in a report on Friday, November 8th. UBS Group assumed coverage on Teledyne Technologies in a research report on Tuesday, December 10th. They issued a "buy" rating and a $585.00 price objective on the stock. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $585.00 price target on shares of Teledyne Technologies in a research note on Wednesday, February 5th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $538.00.

Insider Transactions at Teledyne Technologies

In other Teledyne Technologies news, 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 value of $3,203,013.16. Following the completion of the sale, the chief operating officer now directly owns 10,482 shares in the company, valued at $5,322,445.14. This represents a 37.57 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael T. Smith sold 2,025 shares of Teledyne Technologies stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $478.25, for a total value of $968,456.25. Following the transaction, the director now owns 54,935 shares in the company, valued at $26,272,663.75. This trade represents a 3.56 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 32,190 shares of company stock valued at $16,386,864 over the last three months. 2.14% of the stock is currently owned by corporate insiders.

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.