PKS Advisory Services LLC Purchases New Stake in Teledyne Technologies Incorporated (NYSE:TDY)

PKS Advisory Services LLC acquired a new position in shares of Teledyne Technologies Incorporated (NYSE:TDY) in the 4th quarter, HoldingsChannel.com reports. The firm acquired 1,092 shares of the scientific and technical instruments company’s stock, valued at approximately $507,000.

Several other hedge funds and other institutional investors also recently modified their holdings of TDY. Brooklyn Investment Group bought a new position in shares of Teledyne Technologies during the third quarter worth about $32,000. Wilmington Savings Fund Society FSB acquired a new stake in Teledyne Technologies during the third quarter valued at approximately $39,000. Millstone Evans Group LLC bought a new position in Teledyne Technologies during the 4th quarter worth approximately $42,000. Newbridge Financial Services Group Inc. acquired a new position in shares of Teledyne Technologies in the 4th quarter worth approximately $46,000. Finally, Tortoise Investment Management LLC increased its holdings in shares of Teledyne Technologies by 63.2% in the 4th quarter. Tortoise Investment Management LLC now owns 124 shares of the scientific and technical instruments company’s stock valued at $58,000 after acquiring an additional 48 shares during the last quarter. Institutional investors own 91.58% of the company’s stock.

Wall Street Analysts Forecast Growth

TDY has been the topic of several research analyst reports. 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. Bank of America raised their price target on shares of Teledyne Technologies from $550.00 to $600.00 and gave the stock a “buy” rating in a research report on Monday, March 17th. Finally, UBS Group initiated coverage on shares of Teledyne Technologies in a research report on Tuesday, December 10th. They set a “buy” rating and a $585.00 price objective for the company. Six analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $548.00.

Teledyne Technologies Price Performance

Shares of TDY opened at $512.85 on Wednesday. Teledyne Technologies Incorporated has a 12 month low of $355.41 and a 12 month high of $522.50. 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 stock has a fifty day moving average price of $499.12 and a 200 day moving average price of $473.56. The company has a market cap of $24.02 billion, a P/E ratio of 29.76, a PEG ratio of 3.14 and a beta of 1.03.

Teledyne Technologies (NYSE:TDY) last released its quarterly earnings results on Wednesday, January 22nd. The scientific and technical instruments company reported $5.52 EPS for the quarter, topping the consensus estimate of $5.23 by $0.29. The business had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.45 billion. Teledyne Technologies had a net margin of 14.45% and a return on equity of 9.94%. The company’s quarterly revenue was up 5.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $5.44 earnings per share. On average, research analysts forecast that Teledyne Technologies Incorporated will post 21.55 earnings per share for the current year.

Insider Buying and Selling at Teledyne Technologies

In related news, VP Cynthia Y. Belak sold 5,745 shares of the stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $508.34, for a total value of $2,920,413.30. Following the completion of the transaction, the vice president now directly owns 4,962 shares of the company’s stock, valued at $2,522,383.08. This represents a 53.66 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO George C. Bobb III sold 6,308 shares of Teledyne Technologies stock in a transaction on Friday, January 24th. The shares were sold at an average price of $507.77, for a total value of $3,203,013.16. Following the sale, the chief operating officer now directly owns 10,482 shares in the company, valued at $5,322,445.14. The trade was a 37.57 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 34,571 shares of company stock worth $17,709,721. 2.14% of the stock is owned by company insiders.

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.