SVB Wealth LLC Takes $5.94 Million Position in Teledyne Technologies Incorporated (NYSE:TDY)

SVB Wealth LLC purchased a new position in Teledyne Technologies Incorporated (NYSE:TDY - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 12,787 shares of the scientific and technical instruments company's stock, valued at approximately $5,935,000.

Several other hedge funds have also recently added to or reduced their stakes in TDY. Brooklyn Investment Group acquired a new stake in shares of Teledyne Technologies in the 3rd quarter valued at $32,000. Wilmington Savings Fund Society FSB bought a new position in Teledyne Technologies during the 3rd quarter valued at about $39,000. Newbridge Financial Services Group Inc. acquired a new position in Teledyne Technologies in the fourth quarter valued at about $46,000. Private Trust Co. NA boosted its position in Teledyne Technologies by 43.0% in the fourth quarter. Private Trust Co. NA now owns 173 shares of the scientific and technical instruments company's stock valued at $80,000 after buying an additional 52 shares in the last quarter. Finally, Allworth Financial LP grew its stake in Teledyne Technologies by 15.1% during the fourth quarter. Allworth Financial LP now owns 206 shares of the scientific and technical instruments company's stock worth $105,000 after buying an additional 27 shares during the last quarter. Institutional investors and hedge funds own 91.58% of the company's stock.

Teledyne Technologies Price Performance

Shares of TDY traded up $1.90 during mid-day trading on Monday, hitting $516.92. 139,652 shares of the company traded hands, compared to its average volume of 246,214. 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 business has a 50-day moving average of $488.76 and a 200 day moving average of $464.92. Teledyne Technologies Incorporated has a one year low of $355.41 and a one year high of $522.50. The stock has a market capitalization of $24.21 billion, a price-to-earnings ratio of 30.04, a PEG ratio of 3.14 and a beta of 1.03.

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 EPS for the quarter, beating analysts' consensus estimates of $5.23 by $0.29. The firm had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.45 billion. Teledyne Technologies had a return on equity of 9.94% and a net margin of 14.45%. The business's quarterly revenue was up 5.4% compared to the same quarter last year. During the same period last year, the company earned $5.44 EPS. As a group, equities analysts expect that Teledyne Technologies Incorporated will post 21.55 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Teledyne Technologies news, Chairman Robert Mehrabian sold 5,768 shares of the firm's stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $518.22, for a total value of $2,989,092.96. Following the transaction, the chairman now directly owns 144,553 shares of the company's stock, valued at approximately $74,910,255.66. This trade represents a 3.84 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael T. Smith sold 2,025 shares of the company's stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $478.25, for a total transaction of $968,456.25. Following the sale, the director now owns 54,935 shares of the company's stock, valued at $26,272,663.75. The trade was a 3.56 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 32,190 shares of company stock valued at $16,386,864. 2.14% of the stock is currently owned by insiders.

Analyst Ratings Changes

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

Teledyne Technologies Company 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.