Net Worth Advisory Group Boosts Stake in Teledyne Technologies Incorporated (NYSE:TDY)

Net Worth Advisory Group increased its stake in shares of Teledyne Technologies Incorporated (NYSE:TDY) by 1.5% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 1,802 shares of the scientific and technical instruments company’s stock after purchasing an additional 27 shares during the period. Net Worth Advisory Group’s holdings in Teledyne Technologies were worth $836,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in TDY. Brooklyn Investment Group purchased a new position in shares of Teledyne Technologies during the 3rd quarter worth approximately $32,000. Wilmington Savings Fund Society FSB acquired a new stake in Teledyne Technologies during the 3rd quarter worth approximately $39,000. Newbridge Financial Services Group Inc. acquired a new stake in Teledyne Technologies during the 4th quarter worth approximately $46,000. Tortoise Investment Management LLC lifted its holdings in Teledyne Technologies by 63.2% during the 4th 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 in the last quarter. Finally, Private Trust Co. NA lifted its holdings in 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 buying an additional 52 shares in the last quarter. Hedge funds and other institutional investors own 91.58% of the company’s stock.

Teledyne Technologies Price Performance

Shares of TDY opened at $478.89 on Tuesday. Teledyne Technologies Incorporated has a twelve month low of $355.41 and a twelve month high of $522.50. The firm’s fifty day simple moving average is $491.18 and its 200-day simple moving average is $468.11. The firm has a market capitalization of $22.43 billion, a price-to-earnings ratio of 27.79, a PEG 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.

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

Analysts Set New Price Targets

A number of research firms have issued reports on TDY. UBS Group began coverage on shares of Teledyne Technologies in a report on Tuesday, December 10th. They set a “buy” rating and a $585.00 target price on the stock. 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. Six analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $538.00.

Insider Activity

In related news, COO George C. Bobb III sold 6,308 shares of the stock in a transaction on 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 transaction, the chief operating officer now directly 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 filing with the SEC, which is accessible through the SEC website. Also, EVP Melanie Susan Cibik sold 706 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $519.96, for a total transaction of $367,091.76. Following the completion of the transaction, the executive vice president now directly owns 26,529 shares in the company, valued at $13,794,018.84. This trade represents a 2.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 36,596 shares of company stock worth $18,678,177. 2.14% of the stock is currently owned by corporate insiders.

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.