EULAV Asset Management Buys 19,000 Shares of Teledyne Technologies Incorporated (NYSE:TDY)

EULAV Asset Management raised its stake in Teledyne Technologies Incorporated (NYSE:TDY) by 78.5% during the fourth quarter, HoldingsChannel.com reports. The fund owned 43,200 shares of the scientific and technical instruments company’s stock after purchasing an additional 19,000 shares during the quarter. EULAV Asset Management’s holdings in Teledyne Technologies were worth $20,050,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of TDY. Wolff Wiese Magana LLC bought a new stake in shares of Teledyne Technologies in the third quarter worth about $27,000. Brooklyn Investment Group purchased a new position in Teledyne Technologies during the 3rd quarter valued at approximately $32,000. Wilmington Savings Fund Society FSB bought a new stake in Teledyne Technologies in the 3rd quarter worth approximately $39,000. Exchange Traded Concepts LLC raised its holdings in shares of Teledyne Technologies by 432.0% during the 3rd quarter. Exchange Traded Concepts LLC now owns 133 shares of the scientific and technical instruments company’s stock worth $58,000 after acquiring an additional 108 shares in the last quarter. Finally, Salem Investment Counselors Inc. boosted its position in shares of Teledyne Technologies by 85.5% during the 4th 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. Hedge funds and other institutional investors own 91.58% of the company’s stock.

Insider Transactions at Teledyne Technologies

In other news, Director Michael T. Smith sold 2,025 shares of Teledyne Technologies stock in a transaction that occurred on Thursday, December 12th. The shares were 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 owns 54,935 shares of the company’s stock, valued at approximately $26,272,663.75. The trade was a 3.56 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman Robert Mehrabian sold 5,007 shares of the business’s stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $510.33, for a total value of $2,555,222.31. Following the completion of the sale, the chairman now owns 144,553 shares of the company’s stock, valued at $73,769,732.49. The trade was a 3.35 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 78,265 shares of company stock worth $38,840,593. 2.14% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. UBS Group assumed coverage on shares of Teledyne Technologies in a research report on Tuesday, December 10th. They issued a “buy” rating and a $585.00 price target on the stock. TD Cowen upped their target price on shares of Teledyne Technologies from $450.00 to $500.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Bank of America upgraded Teledyne Technologies from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $450.00 to $550.00 in a research report on Friday, November 8th. Finally, 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. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $538.00.

Teledyne Technologies Stock Performance

Shares of NYSE:TDY opened at $511.53 on Friday. 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 Incorporated has a 12 month low of $355.41 and a 12 month high of $522.50. The company has a market capitalization of $23.84 billion, a price-to-earnings ratio of 29.69, a PEG ratio of 3.19 and a beta of 1.03. The firm’s 50-day moving average is $479.98 and its 200 day moving average is $454.21.

Teledyne Technologies (NYSE:TDY) last released its earnings results on Wednesday, January 22nd. The scientific and technical instruments company reported $5.52 EPS 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 for the quarter, compared to analysts’ expectations of $1.45 billion. During the same quarter in the prior year, the firm posted $5.44 earnings per share. The company’s quarterly revenue was up 5.4% on a year-over-year basis. Research analysts predict that Teledyne Technologies Incorporated will post 21.59 EPS 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.