Allworth Financial LP Grows Position in Teledyne Technologies Incorporated (NYSE:TDY)

Allworth Financial LP boosted its stake in Teledyne Technologies Incorporated (NYSE:TDY) by 15.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 206 shares of the scientific and technical instruments company’s stock after purchasing an additional 27 shares during the quarter. Allworth Financial LP’s holdings in Teledyne Technologies were worth $105,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Brooklyn Investment Group purchased a new position in shares of Teledyne Technologies in the third quarter valued at $32,000. Wilmington Savings Fund Society FSB purchased a new position in shares of Teledyne Technologies in the third quarter valued at $39,000. Newbridge Financial Services Group Inc. purchased a new position in shares of Teledyne Technologies in the fourth quarter valued at $46,000. Salem Investment Counselors Inc. boosted its stake in shares of Teledyne Technologies by 85.5% in the fourth quarter. Salem Investment Counselors Inc. now owns 230 shares of the scientific and technical instruments company’s stock valued at $107,000 after purchasing an additional 106 shares during the period. Finally, Anchor Investment Management LLC boosted its stake in shares of Teledyne Technologies by 114.4% in the third quarter. Anchor Investment Management LLC now owns 253 shares of the scientific and technical instruments company’s stock valued at $111,000 after purchasing an additional 135 shares during the period. 91.58% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

TDY has been the topic of several recent analyst reports. Bank of America raised shares of Teledyne Technologies from a “neutral” rating to a “buy” rating and upped their price target for the company from $450.00 to $550.00 in a report on Friday, November 8th. Needham & Company LLC reaffirmed a “buy” rating and issued a $585.00 price target on shares of Teledyne Technologies in a report on Wednesday, February 5th. Finally, UBS Group initiated coverage on shares of Teledyne Technologies in a report on Tuesday, December 10th. They issued a “buy” rating and a $585.00 price target on the stock. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Teledyne Technologies has an average rating of “Buy” and an average price target of $538.00.

Teledyne Technologies Stock Down 1.9 %

Shares of NYSE:TDY opened at $491.27 on Monday. The stock has a market capitalization of $22.89 billion, a price-to-earnings ratio of 28.51, a price-to-earnings-growth ratio of 3.14 and a beta of 1.03. Teledyne Technologies Incorporated has a 1-year low of $355.41 and a 1-year high of $522.50. The company’s fifty day moving average is $485.23 and its two-hundred day moving average is $461.62. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.61 and a current ratio of 2.33.

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

Insiders Place Their Bets

In related news, COO George C. Bobb III sold 6,308 shares of the stock in a transaction dated Friday, January 24th. The shares were 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 $5,322,445.14. This trade represents a 37.57 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Michael T. Smith sold 2,025 shares of the stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $478.25, for a total transaction of $968,456.25. Following the completion of the sale, the director now directly owns 54,935 shares in the company, valued at approximately $26,272,663.75. This trade represents a 3.56 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 32,190 shares of company stock valued at $16,386,864. Company insiders own 2.14% of the company’s stock.

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.