Raymond James Financial Inc. Invests $53.30 Million in Teledyne Technologies Incorporated (NYSE:TDY)

Raymond James Financial Inc. bought a new stake in shares of Teledyne Technologies Incorporated (NYSE:TDY - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 114,847 shares of the scientific and technical instruments company's stock, valued at approximately $53,304,000. Raymond James Financial Inc. owned 0.25% of Teledyne Technologies at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in TDY. Norges Bank bought a new stake in shares of Teledyne Technologies in the 4th quarter valued at about $306,042,000. Madison Investment Advisors LLC purchased a new position in shares of Teledyne Technologies in the 4th quarter valued at approximately $94,721,000. FIL Ltd grew its stake in Teledyne Technologies by 72.8% during the 4th quarter. FIL Ltd now owns 260,187 shares of the scientific and technical instruments company's stock valued at $120,761,000 after purchasing an additional 109,615 shares during the last quarter. JPMorgan Chase & Co. lifted its position in Teledyne Technologies by 6.0% during the third quarter. JPMorgan Chase & Co. now owns 1,150,065 shares of the scientific and technical instruments company's stock valued at $503,338,000 after purchasing an additional 64,617 shares during the period. Finally, Diamond Hill Capital Management Inc. purchased a new stake in Teledyne Technologies during the fourth quarter worth $29,348,000. 91.58% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Teledyne Technologies news, COO George C. Bobb III sold 6,308 shares of Teledyne Technologies stock in a transaction that occurred on 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 sale, the chief operating officer now owns 10,482 shares of the company's stock, valued at approximately $5,322,445.14. The trade was a 37.57 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Vice Chairman Jason Vanwees sold 3,700 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $520.06, for a total value of $1,924,222.00. Following the transaction, the insider now directly owns 51,324 shares of the company's stock, valued at approximately $26,691,559.44. This trade represents a 6.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 34,571 shares of company stock valued at $17,709,721 over the last quarter. Company insiders own 1.50% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Bank of America boosted their price target 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. StockNews.com raised Teledyne Technologies from a "hold" rating to a "buy" rating in a research note on Wednesday. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $585.00 price objective on shares of Teledyne Technologies in a report on Wednesday, February 5th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $548.00.

Teledyne Technologies Stock Up 0.3 %

Teledyne Technologies stock traded up $1.41 during mid-day trading on Friday, reaching $462.30. 224,118 shares of the company's stock were exchanged, compared to its average volume of 259,540. Teledyne Technologies Incorporated has a twelve month low of $355.41 and a twelve month high of $522.50. The company has a market cap of $21.65 billion, a P/E ratio of 26.83, a P/E/G ratio of 3.14 and a beta of 1.03. The company has a quick ratio of 1.61, a current ratio of 2.33 and a debt-to-equity ratio of 0.28. The company has a fifty day moving average of $486.27 and a 200-day moving average of $478.54.

Teledyne Technologies (NYSE:TDY - Get Free Report) last announced 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. Teledyne Technologies had a net margin of 14.45% and a return on equity of 9.94%. The business had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.45 billion. During the same period last year, the business earned $5.44 EPS. The company's revenue was up 5.4% on a year-over-year basis. Sell-side analysts expect 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.