Proficio Capital Partners LLC Buys New Stake in Teledyne Technologies Incorporated (NYSE:TDY)

Proficio Capital Partners LLC bought a new stake in Teledyne Technologies Incorporated (NYSE:TDY) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 62,658 shares of the scientific and technical instruments company’s stock, valued at approximately $29,081,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Covea Finance lifted its stake in shares of Teledyne Technologies by 25.1% during the 4th quarter. Covea Finance now owns 21,400 shares of the scientific and technical instruments company’s stock worth $9,932,000 after purchasing an additional 4,300 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of Teledyne Technologies by 6.0% during 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 purchasing an additional 64,617 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in shares of Teledyne Technologies by 10.9% during 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 purchasing an additional 640 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Teledyne Technologies by 37.8% during 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 purchasing an additional 1,176 shares during the period. Finally, Verition Fund Management LLC lifted its stake in shares of Teledyne Technologies by 240.5% during 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 purchasing an additional 25,796 shares during the period. Hedge funds and other institutional investors own 91.58% of the company’s stock.

Teledyne Technologies Trading Up 2.9 %

TDY stock opened at $515.60 on Friday. The company has a market cap of $24.15 billion, a price-to-earnings ratio of 29.92, a PEG ratio of 3.14 and a beta of 1.03. 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 business has a fifty day simple moving average of $487.79 and a 200-day simple moving average of $463.40. Teledyne Technologies Incorporated has a 52 week low of $355.41 and a 52 week high of $522.50.

Teledyne Technologies (NYSE:TDY) last announced its quarterly earnings results on Wednesday, January 22nd. The scientific and technical instruments company reported $5.52 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $1.45 billion. During the same period in the prior year, the firm earned $5.44 EPS. The firm’s quarterly revenue was up 5.4% compared to the same quarter last year. On average, equities research analysts expect that Teledyne Technologies Incorporated will post 21.55 EPS for the current year.

Insider Activity at Teledyne Technologies

In related news, Director Michael T. Smith sold 2,025 shares of the stock in a transaction 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 completion of the sale, the director now directly owns 54,935 shares in the company, valued at approximately $26,272,663.75. This represents a 3.56 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Cynthia Y. Belak sold 5,745 shares of the firm’s stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $508.34, for a total value of $2,920,413.30. Following the sale, the vice president now owns 4,962 shares of the company’s stock, valued at $2,522,383.08. This represents a 53.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 32,190 shares of company stock worth $16,386,864. Corporate insiders own 1.88% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on TDY. UBS Group began coverage on Teledyne Technologies in a research note on Tuesday, December 10th. They set a “buy” rating and a $585.00 price target on the stock. Bank of America upgraded Teledyne Technologies from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $450.00 to $550.00 in a 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 report on Wednesday, February 5th. Six research analysts have rated the stock with a buy rating, According to MarketBeat, the company has an average rating of “Buy” and an average price target 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.