Royce & Associates LP Raises Holdings in Teledyne Technologies Incorporated (NYSE:TDY)

Royce & Associates LP boosted its position in Teledyne Technologies Incorporated (NYSE:TDY - Free Report) by 7.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 19,140 shares of the scientific and technical instruments company's stock after buying an additional 1,340 shares during the period. Royce & Associates LP's holdings in Teledyne Technologies were worth $8,883,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Brooklyn Investment Group acquired a new position in shares of Teledyne Technologies in the 3rd quarter valued at about $32,000. Wilmington Savings Fund Society FSB purchased a new position in Teledyne Technologies during the third quarter valued at approximately $39,000. Newbridge Financial Services Group Inc. acquired a new position in Teledyne Technologies in the fourth quarter valued at approximately $46,000. Tortoise Investment Management LLC boosted its position in Teledyne Technologies by 63.2% in the 4th quarter. Tortoise Investment Management LLC now owns 124 shares of the scientific and technical instruments company's stock worth $58,000 after purchasing an additional 48 shares in the last quarter. Finally, Private Trust Co. NA grew its stake in shares of Teledyne Technologies by 43.0% during the 4th quarter. Private Trust Co. NA now owns 173 shares of the scientific and technical instruments company's stock worth $80,000 after purchasing an additional 52 shares during the period. Institutional investors and hedge funds own 91.58% of the company's stock.

Remove Ads

Insiders Place Their Bets

In related 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 transaction of $3,203,013.16. Following the transaction, the chief operating officer now owns 10,482 shares in the company, valued at approximately $5,322,445.14. This trade represents a 37.57 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Cynthia Y. Belak sold 5,745 shares of the company's stock in a transaction on 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 completion of the sale, the vice president now owns 4,962 shares of the company's stock, valued at approximately $2,522,383.08. The trade was a 53.66 % 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 in the last 90 days. 2.14% of the stock is owned by insiders.

Wall Street Analyst Weigh In

TDY has been the topic of a number of recent analyst reports. Bank of America increased 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. Needham & Company LLC restated a "buy" rating and issued a $585.00 price target on shares of Teledyne Technologies in a research note on Wednesday, February 5th. Finally, UBS Group started coverage on Teledyne Technologies in a report on Tuesday, December 10th. They issued a "buy" rating and a $585.00 price objective on the stock. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company has an average rating of "Buy" and an average price target of $548.00.

Teledyne Technologies Price Performance

Teledyne Technologies stock traded up $3.44 during midday trading on Friday, reaching $502.73. The company had a trading volume of 653,569 shares, compared to its average volume of 242,974. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.33 and a quick ratio of 1.61. Teledyne Technologies Incorporated has a 12-month low of $355.41 and a 12-month high of $522.50. The company has a market capitalization of $23.55 billion, a P/E ratio of 29.18, a P/E/G ratio of 3.14 and a beta of 1.03. The firm's fifty day simple moving average is $497.26 and its 200-day simple moving average is $471.72.

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