Sagespring Wealth Partners LLC Makes New $296,000 Investment in Teledyne Technologies Incorporated (NYSE:TDY)

Sagespring Wealth Partners LLC acquired a new position in shares of Teledyne Technologies Incorporated (NYSE:TDY - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 638 shares of the scientific and technical instruments company's stock, valued at approximately $296,000.

Other large investors have also bought and sold shares of the company. Hurley Capital LLC acquired a new position in shares of Teledyne Technologies during the 4th quarter worth about $33,000. Wilmington Savings Fund Society FSB acquired a new position in Teledyne Technologies during the third quarter worth $39,000. Millstone Evans Group LLC bought a new position in shares of Teledyne Technologies in the 4th quarter valued at about $42,000. Newbridge Financial Services Group Inc. acquired a new position in shares of Teledyne Technologies during the 4th quarter worth approximately $46,000. Finally, Tortoise Investment Management LLC increased its holdings in Teledyne Technologies by 63.2% during the fourth quarter. Tortoise Investment Management LLC now owns 124 shares of the scientific and technical instruments company's stock worth $58,000 after buying an additional 48 shares during the last quarter. 91.58% of the stock is currently owned by institutional investors and hedge funds.

Teledyne Technologies Price Performance

TDY stock traded up $7.32 during mid-day trading on Tuesday, hitting $460.67. The stock had a trading volume of 345,911 shares, compared to its average volume of 260,258. Teledyne Technologies Incorporated has a 52 week low of $355.41 and a 52 week high of $522.50. The firm has a market capitalization of $21.58 billion, a P/E ratio of 26.74, a P/E/G ratio of 3.14 and a beta of 1.03. The company has a current ratio of 2.33, a quick ratio of 1.61 and a debt-to-equity ratio of 0.28. The firm has a fifty day simple moving average of $484.49 and a 200 day simple moving average of $478.50.

Teledyne Technologies (NYSE:TDY - Get Free Report) last issued its quarterly 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. Teledyne Technologies had a return on equity of 9.94% and a net margin of 14.45%. The company had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.45 billion. During the same quarter last year, the company posted $5.44 EPS. The company's revenue for the quarter was up 5.4% compared to the same quarter last year. As a group, research analysts forecast that Teledyne Technologies Incorporated will post 21.55 EPS for the current year.

Analysts Set New Price Targets

TDY has been the subject of a number of research analyst reports. Bank of America lifted their price target on 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 set a $585.00 price objective on shares of Teledyne Technologies in a research report on Wednesday, February 5th. Finally, StockNews.com upgraded shares of Teledyne Technologies from a "hold" rating to a "buy" rating in a research note on Wednesday, April 16th. Six analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $548.00.

Insiders Place Their Bets

In other 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 owns 10,482 shares of the company's stock, valued at approximately $5,322,445.14. This represents a 37.57 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Cynthia Y. Belak sold 5,745 shares of the stock in a transaction on Friday, January 24th. The stock was sold at an average price of $508.34, for a total transaction of $2,920,413.30. Following the sale, the vice president now owns 4,962 shares of the company's stock, valued at approximately $2,522,383.08. This trade represents a 53.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 34,571 shares of company stock valued at $17,709,721. 1.50% of the stock is currently owned by corporate 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.