Sei Investments Co. Raises Stock Holdings in Teledyne Technologies Incorporated (NYSE:TDY)

Sei Investments Co. boosted its holdings in Teledyne Technologies Incorporated (NYSE:TDY) by 5.3% in the fourth quarter, HoldingsChannel reports. The firm owned 383,113 shares of the scientific and technical instruments company’s stock after purchasing an additional 19,421 shares during the period. Sei Investments Co.’s holdings in Teledyne Technologies were worth $177,814,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Brooklyn Investment Group purchased a new position in Teledyne Technologies in the third quarter valued at about $32,000. Wilmington Savings Fund Society FSB purchased a new position in Teledyne Technologies in the third quarter valued at about $39,000. Millstone Evans Group LLC acquired a new stake in Teledyne Technologies during the fourth quarter valued at approximately $42,000. Newbridge Financial Services Group Inc. acquired a new stake in Teledyne Technologies during the fourth quarter valued at approximately $46,000. Finally, Tortoise Investment Management LLC raised its stake in Teledyne Technologies by 63.2% during the fourth quarter. Tortoise Investment Management LLC now owns 124 shares of the scientific and technical instruments company’s stock valued at $58,000 after buying an additional 48 shares in 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, VP Cynthia Y. Belak sold 5,745 shares of the firm’s stock in a transaction on 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 transaction, the vice president now directly owns 4,962 shares of the company’s stock, valued at approximately $2,522,383.08. This trade represents a 53.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Robert Mehrabian sold 5,768 shares of the company’s stock in a transaction dated 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 completion of the sale, the chairman now directly owns 144,553 shares of the company’s stock, valued at $74,910,255.66. The trade was a 3.84 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 34,571 shares of company stock worth $17,709,721. Company insiders own 2.14% of the company’s stock.

Wall Street Analyst Weigh In

TDY has been the topic of several research reports. Bank of America upped their price objective on Teledyne Technologies from $550.00 to $600.00 and gave the company a “buy” rating in a research note on Monday, March 17th. Needham & Company LLC restated a “buy” rating and set a $585.00 price objective on shares of Teledyne Technologies in a research note on Wednesday, February 5th. Finally, UBS Group initiated coverage on Teledyne Technologies in a research note on Tuesday, December 10th. They set a “buy” rating and a $585.00 price objective on the stock. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Teledyne Technologies currently has a consensus rating of “Buy” and an average target price of $548.00.

Teledyne Technologies Price Performance

Shares of NYSE TDY opened at $502.73 on Friday. Teledyne Technologies Incorporated has a 1-year low of $355.41 and a 1-year high of $522.50. The firm has a market capitalization of $23.55 billion, a PE ratio of 29.18, 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. The business’s fifty day moving average price is $497.26 and its two-hundred day moving average price is $471.72.

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

About Teledyne Technologies

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.