Peapack Gladstone Financial Corp Invests $240,000 in Teledyne Technologies Incorporated (NYSE:TDY)

Peapack Gladstone Financial Corp bought a new position in shares of Teledyne Technologies Incorporated (NYSE:TDY) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 517 shares of the scientific and technical instruments company’s stock, valued at approximately $240,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of TDY. Hurley Capital LLC acquired a new position in Teledyne Technologies in the fourth quarter valued at $33,000. Aviva PLC increased its holdings in Teledyne Technologies by 126.9% in the fourth quarter. Aviva PLC now owns 28,016 shares of the scientific and technical instruments company’s stock valued at $13,003,000 after buying an additional 15,671 shares in the last quarter. Resona Asset Management Co. Ltd. purchased a new position in Teledyne Technologies in the fourth quarter valued at about $10,149,000. Wells Fargo & Company MN increased its holdings in Teledyne Technologies by 2.3% in the fourth quarter. Wells Fargo & Company MN now owns 259,096 shares of the scientific and technical instruments company’s stock valued at $120,254,000 after buying an additional 5,826 shares in the last quarter. Finally, BloombergSen Inc. acquired a new position in shares of Teledyne Technologies during the 4th quarter worth approximately $403,000. Institutional investors and hedge funds own 91.58% of the company’s stock.

Insider Activity

In other 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 transaction of $3,203,013.16. Following the transaction, the chief operating officer now owns 10,482 shares in the company, valued at $5,322,445.14. This represents a 37.57 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Cynthia Y. Belak sold 5,745 shares of the firm’s stock in a transaction on Friday, January 24th. The shares were sold at an average price of $508.34, for a total transaction of $2,920,413.30. Following the completion of the transaction, the vice president now owns 4,962 shares in the company, valued at $2,522,383.08. The trade was a 53.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 34,571 shares of company stock worth $17,709,721 over the last three months. Corporate insiders own 1.50% of the company’s stock.

Teledyne Technologies Price Performance

Shares of NYSE:TDY opened at $468.17 on Thursday. Teledyne Technologies Incorporated has a fifty-two week low of $355.41 and a fifty-two week high of $522.50. The company has a quick ratio of 1.61, a current ratio of 2.33 and a debt-to-equity ratio of 0.28. The company has a market cap of $21.93 billion, a PE ratio of 27.17, a P/E/G ratio of 3.14 and a beta of 1.03. The firm has a 50-day simple moving average of $492.94 and a 200 day simple moving average of $476.98.

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

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on TDY shares. Bank of America lifted their price objective on Teledyne Technologies from $550.00 to $600.00 and gave the stock a “buy” rating in a research report on Monday, March 17th. Needham & Company LLC restated a “buy” rating and set a $585.00 target price on shares of Teledyne Technologies in a report on Wednesday, February 5th. Finally, StockNews.com lowered shares of Teledyne Technologies from a “buy” rating to a “hold” rating in a report on Wednesday, April 2nd. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average 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.