LPL Financial LLC Grows Position in Teledyne Technologies Incorporated (NYSE:TDY)

LPL Financial LLC boosted its stake in shares of Teledyne Technologies Incorporated (NYSE:TDY) by 8.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 28,366 shares of the scientific and technical instruments company’s stock after purchasing an additional 2,224 shares during the period. LPL Financial LLC owned approximately 0.06% of Teledyne Technologies worth $13,166,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Glenmede Trust Co. NA boosted its holdings in Teledyne Technologies by 12.6% in the third quarter. Glenmede Trust Co. NA now owns 1,792 shares of the scientific and technical instruments company’s stock valued at $784,000 after acquiring an additional 201 shares during the last quarter. Public Sector Pension Investment Board grew its holdings in shares of Teledyne Technologies by 5.5% during the 3rd quarter. Public Sector Pension Investment Board now owns 1,910 shares of the scientific and technical instruments company’s stock worth $836,000 after purchasing an additional 100 shares during the period. Captrust Financial Advisors grew its holdings in shares of Teledyne Technologies by 1.7% during the 3rd quarter. Captrust Financial Advisors now owns 7,633 shares of the scientific and technical instruments company’s stock worth $3,341,000 after purchasing an additional 129 shares during the period. Paloma Partners Management Co acquired a new stake in Teledyne Technologies during the 3rd quarter worth approximately $486,000. Finally, Benjamin Edwards Inc. raised its holdings in Teledyne Technologies by 1,030.2% in the third quarter. Benjamin Edwards Inc. now owns 1,085 shares of the scientific and technical instruments company’s stock valued at $475,000 after buying an additional 989 shares during the period. Institutional investors and hedge funds own 91.58% of the company’s stock.

Teledyne Technologies Stock Up 0.4 %

Shares of Teledyne Technologies stock opened at $500.16 on Thursday. Teledyne Technologies Incorporated has a 1-year low of $355.41 and a 1-year high of $522.50. The company has a market capitalization of $23.43 billion, a PE ratio of 29.03, a P/E/G ratio of 3.14 and a beta of 1.03. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.33 and a quick ratio of 1.61. The business has a 50-day moving average of $501.65 and a 200-day moving average of $476.36.

Teledyne Technologies (NYSE:TDY) last issued 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 return on equity of 9.94% and a net margin of 14.45%. The firm had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.45 billion. During the same quarter last year, the firm earned $5.44 EPS. Teledyne Technologies’s quarterly revenue was up 5.4% on a year-over-year basis. As a group, equities analysts forecast that Teledyne Technologies Incorporated will post 21.55 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Chairman Robert Mehrabian sold 5,768 shares of Teledyne Technologies stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $518.22, for a total value of $2,989,092.96. Following the completion of the transaction, the chairman now owns 144,553 shares in the company, valued at approximately $74,910,255.66. This trade represents a 3.84 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Cynthia Y. Belak sold 5,745 shares of the company’s stock in a transaction that occurred 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 sale, the vice president now directly owns 4,962 shares in the company, valued at approximately $2,522,383.08. This represents a 53.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 34,571 shares of company stock worth $17,709,721. Insiders own 1.50% of the company’s stock.

Analysts Set New Price Targets

TDY has been the subject of several recent research reports. StockNews.com lowered shares of Teledyne Technologies from a “buy” rating to a “hold” rating in a research report on Wednesday. Bank of America raised their price objective on Teledyne Technologies from $550.00 to $600.00 and gave the company a “buy” rating in a research report on Monday, March 17th. UBS Group initiated coverage on Teledyne Technologies in a research report on Tuesday, December 10th. They issued a “buy” rating and a $585.00 target price for the company. Finally, Needham & Company LLC reiterated a “buy” rating and set a $585.00 target price on shares of Teledyne Technologies in a report on Wednesday, February 5th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, Teledyne Technologies presently has an average rating of “Moderate Buy” and a consensus price target of $548.00.

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.