Bleakley Financial Group LLC Purchases 99 Shares of Teledyne Technologies Incorporated (NYSE:TDY)

Bleakley Financial Group LLC increased its position in shares of Teledyne Technologies Incorporated (NYSE:TDY) by 14.5% during the fourth quarter, HoldingsChannel reports. The fund owned 780 shares of the scientific and technical instruments company’s stock after buying an additional 99 shares during the quarter. Bleakley Financial Group LLC’s holdings in Teledyne Technologies were worth $362,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Wolff Wiese Magana LLC bought a new stake in shares of Teledyne Technologies during the third quarter worth about $27,000. Brooklyn Investment Group acquired a new stake in Teledyne Technologies during the 3rd quarter worth approximately $32,000. Wilmington Savings Fund Society FSB bought a new stake in Teledyne Technologies during the 3rd quarter worth approximately $39,000. Exchange Traded Concepts LLC increased its position in Teledyne Technologies by 432.0% in the 3rd quarter. Exchange Traded Concepts LLC now owns 133 shares of the scientific and technical instruments company’s stock valued at $58,000 after acquiring an additional 108 shares during the period. Finally, Salem Investment Counselors Inc. raised its stake in shares of Teledyne Technologies by 85.5% during 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 acquiring an additional 106 shares during the last quarter. Institutional investors and hedge funds own 91.58% of the company’s stock.

Insiders Place Their Bets

In other news, Chairman Robert Mehrabian sold 5,768 shares of the company’s stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $518.22, for a total transaction of $2,989,092.96. Following the transaction, the chairman now directly owns 144,553 shares of the company’s stock, valued at $74,910,255.66. This represents a 3.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Melanie Susan Cibik sold 2,538 shares of the stock in a transaction on Monday, January 27th. The stock was sold at an average price of $513.02, for a total value of $1,302,044.76. Following the completion of the transaction, the executive vice president now owns 32,100 shares in the company, valued at approximately $16,467,942. This represents a 7.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 32,190 shares of company stock worth $16,386,864. 2.14% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. Bank of America raised shares of 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. Needham & Company LLC restated a “buy” rating and set a $585.00 price objective on shares of Teledyne Technologies in a research report on Wednesday, February 5th. TD Cowen upped their target price on Teledyne Technologies from $450.00 to $500.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Finally, UBS Group initiated coverage on shares of Teledyne Technologies in a research report on Tuesday, December 10th. They set a “buy” rating and a $585.00 target price for the company. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $538.00.

Teledyne Technologies Stock Down 0.5 %

Shares of NYSE:TDY opened at $508.78 on Wednesday. The business’s 50-day moving average is $481.11 and its 200-day moving average is $456.31. 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 $23.71 billion, a price-to-earnings ratio of 29.53, a P/E/G ratio of 3.19 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.

Teledyne Technologies (NYSE:TDY) last posted its quarterly earnings results on Wednesday, January 22nd. The scientific and technical instruments company reported $5.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.23 by $0.29. The firm had revenue of $1.50 billion for the quarter, compared to analysts’ expectations of $1.45 billion. Teledyne Technologies had a return on equity of 9.94% and a net margin of 14.45%. The company’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same period in the prior year, the business earned $5.44 EPS. Equities research analysts predict that Teledyne Technologies Incorporated will post 21.59 earnings per share for the current year.

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.