Newbridge Financial Services Group Inc. Buys New Shares in Teledyne Technologies Incorporated (NYSE:TDY)

Newbridge Financial Services Group Inc. bought a new stake in shares of Teledyne Technologies Incorporated (NYSE:TDY) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 100 shares of the scientific and technical instruments company’s stock, valued at approximately $46,000.

Several other large investors have also recently bought and sold shares of TDY. Wolff Wiese Magana LLC acquired a new position in shares of Teledyne Technologies in the 3rd quarter valued at $27,000. Brooklyn Investment Group acquired a new position in shares of Teledyne Technologies in the 3rd quarter valued at $32,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Teledyne Technologies in the 3rd quarter valued at $39,000. Exchange Traded Concepts LLC raised its stake in shares of 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 buying an additional 108 shares in the last quarter. Finally, Salem Investment Counselors Inc. raised its stake in shares of Teledyne Technologies by 85.5% in 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 buying an additional 106 shares in the last quarter. 91.58% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

TDY has been the topic of several analyst reports. UBS Group initiated coverage on shares of Teledyne Technologies in a report on Tuesday, December 10th. They issued a “buy” rating and a $585.00 target price on the stock. TD Cowen upped their target price on shares of Teledyne Technologies from $450.00 to $500.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Bank of America raised shares of Teledyne Technologies from a “neutral” rating to a “buy” rating and upped their target price for the stock from $450.00 to $550.00 in a report on Friday, November 8th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $585.00 target price on shares of Teledyne Technologies in a report on Wednesday, February 5th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, Teledyne Technologies currently has a consensus rating of “Buy” and an average price target of $538.00.

Teledyne Technologies Stock Down 0.5 %

Shares of NYSE:TDY opened at $508.78 on Wednesday. Teledyne Technologies Incorporated has a 12 month low of $355.41 and a 12 month high of $522.50. The company’s 50-day moving average price is $481.11 and its two-hundred day moving average price is $456.31. 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 firm has a market cap of $23.71 billion, a P/E ratio of 29.53, a P/E/G ratio of 3.19 and a beta of 1.03.

Teledyne Technologies (NYSE:TDY) last issued its quarterly earnings data on Wednesday, January 22nd. The scientific and technical instruments company reported $5.52 EPS for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $1.45 billion. During the same quarter in the prior year, the firm earned $5.44 EPS. The company’s revenue was up 5.4% on a year-over-year basis. As a group, research analysts forecast that Teledyne Technologies Incorporated will post 21.59 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Chairman Robert Mehrabian sold 5,768 shares of the firm’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $518.22, for a total value of $2,989,092.96. Following the transaction, the chairman now owns 144,553 shares of the company’s stock, valued at approximately $74,910,255.66. This trade represents a 3.84 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Michael T. Smith sold 2,025 shares of the firm’s stock in a transaction dated 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 transaction, the director now directly owns 54,935 shares in the company, valued at $26,272,663.75. This trade represents a 3.56 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 32,190 shares of company stock valued at $16,386,864 in the last 90 days. 2.14% of the stock is currently owned by insiders.

Teledyne Technologies Company 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.