World Equity Group Inc. Takes $222,000 Position in Teledyne Technologies Incorporated (NYSE:TDY)

World Equity Group Inc. purchased a new position in Teledyne Technologies Incorporated (NYSE:TDY) during the fourth quarter, HoldingsChannel reports. The institutional investor purchased 478 shares of the scientific and technical instruments company’s stock, valued at approximately $222,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Covea Finance boosted its stake in Teledyne Technologies by 25.1% in the 4th quarter. Covea Finance now owns 21,400 shares of the scientific and technical instruments company’s stock worth $9,932,000 after buying an additional 4,300 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Teledyne Technologies by 6.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,150,065 shares of the scientific and technical instruments company’s stock worth $503,338,000 after buying an additional 64,617 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in Teledyne Technologies by 10.9% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 6,515 shares of the scientific and technical instruments company’s stock worth $3,024,000 after buying an additional 640 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in Teledyne Technologies by 37.8% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,290 shares of the scientific and technical instruments company’s stock worth $2,021,000 after buying an additional 1,176 shares during the last quarter. Finally, Verition Fund Management LLC boosted its stake in Teledyne Technologies by 240.5% in the 3rd quarter. Verition Fund Management LLC now owns 36,524 shares of the scientific and technical instruments company’s stock worth $15,985,000 after buying an additional 25,796 shares during the last quarter. 91.58% of the stock is owned by institutional investors and hedge funds.

Teledyne Technologies Stock Performance

NYSE TDY opened at $496.28 on Tuesday. The firm has a market capitalization of $23.13 billion, a P/E ratio of 28.80, 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. Teledyne Technologies Incorporated has a 1-year low of $355.41 and a 1-year high of $522.50. The business’s 50-day simple moving average is $485.63 and its 200-day simple moving average is $462.22.

Teledyne Technologies (NYSE:TDY) last announced its earnings results on Wednesday, January 22nd. The scientific and technical instruments company reported $5.52 EPS for the quarter, beating the consensus estimate of $5.23 by $0.29. The business had revenue of $1.50 billion for the quarter, compared to the consensus estimate 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 was up 5.4% on a year-over-year basis. During the same period last year, the business posted $5.44 EPS. Equities analysts predict that Teledyne Technologies Incorporated will post 21.55 EPS for the current year.

Insider Activity at Teledyne Technologies

In related news, VP Cynthia Y. Belak sold 5,745 shares of the firm’s stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $508.34, for a total transaction 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 trade represents a 53.66 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Michael T. Smith sold 2,025 shares of Teledyne Technologies stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $478.25, for a total value of $968,456.25. Following the sale, the director now owns 54,935 shares in the company, valued at $26,272,663.75. This represents a 3.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 32,190 shares of company stock worth $16,386,864. 2.14% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

TDY has been the topic of a number of research analyst reports. Bank of America raised Teledyne Technologies from a “neutral” rating to a “buy” rating and raised their price target for the stock from $450.00 to $550.00 in a research note on Friday, November 8th. Needham & Company LLC reaffirmed a “buy” rating and issued a $585.00 price objective on shares of Teledyne Technologies in a research note on Wednesday, February 5th. Finally, UBS Group assumed coverage on Teledyne Technologies in a research note on Tuesday, December 10th. They issued a “buy” rating and a $585.00 price objective on the stock. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $538.00.

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.