Procyon Advisors LLC Increases Stake in Teledyne Technologies Incorporated (NYSE:TDY)

Procyon Advisors LLC grew its holdings in Teledyne Technologies Incorporated (NYSE:TDY) by 10.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,072 shares of the scientific and technical instruments company’s stock after acquiring an additional 98 shares during the period. Procyon Advisors LLC’s holdings in Teledyne Technologies were worth $498,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of TDY. Metis Global Partners LLC raised its stake in Teledyne Technologies by 1.6% during the third quarter. Metis Global Partners LLC now owns 1,514 shares of the scientific and technical instruments company’s stock valued at $663,000 after purchasing an additional 24 shares in the last quarter. Crumly & Associates Inc. raised its position in shares of Teledyne Technologies by 3.8% during the 3rd quarter. Crumly & Associates Inc. now owns 677 shares of the scientific and technical instruments company’s stock valued at $296,000 after buying an additional 25 shares in the last quarter. Raymond James Trust N.A. lifted its holdings in shares of Teledyne Technologies by 4.8% in the 3rd quarter. Raymond James Trust N.A. now owns 550 shares of the scientific and technical instruments company’s stock valued at $241,000 after acquiring an additional 25 shares during the last quarter. Bleakley Financial Group LLC grew its position in Teledyne Technologies by 4.0% in the third quarter. Bleakley Financial Group LLC now owns 681 shares of the scientific and technical instruments company’s stock worth $298,000 after acquiring an additional 26 shares in the last quarter. Finally, Summit Trail Advisors LLC increased its stake in Teledyne Technologies by 3.9% during the second quarter. Summit Trail Advisors LLC now owns 720 shares of the scientific and technical instruments company’s stock worth $279,000 after acquiring an additional 27 shares during the last quarter. Institutional investors own 91.58% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on TDY shares. StockNews.com upgraded Teledyne Technologies from a “hold” rating to a “buy” rating in a report on Wednesday, October 2nd. Bank of America upgraded shares of Teledyne Technologies from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $450.00 to $550.00 in a research report on Friday, November 8th. Needham & Company LLC raised their target price on shares of Teledyne Technologies from $528.00 to $550.00 and gave the stock a “buy” rating in a report on Monday, November 11th. UBS Group began coverage on shares of Teledyne Technologies in a report on Tuesday, December 10th. They set a “buy” rating and a $585.00 price target on the stock. Finally, TD Cowen raised their price objective on shares of Teledyne Technologies from $450.00 to $500.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $531.00.

Teledyne Technologies Trading Up 0.3 %

NYSE TDY opened at $473.41 on Friday. Teledyne Technologies Incorporated has a 12 month low of $355.41 and a 12 month high of $492.00. The company’s 50-day moving average price is $472.00 and its 200-day moving average price is $443.32. The stock has a market cap of $22.06 billion, a PE ratio of 23.93, a PEG ratio of 2.85 and a beta of 1.01. The company has a current ratio of 2.00, a quick ratio of 1.35 and a debt-to-equity ratio of 0.28.

Teledyne Technologies (NYSE:TDY) last issued its earnings results on Wednesday, October 23rd. The scientific and technical instruments company reported $5.10 EPS for the quarter, topping analysts’ consensus estimates of $4.97 by $0.13. The business had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.42 billion. Teledyne Technologies had a net margin of 16.88% and a return on equity of 10.02%. The company’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same period last year, the company posted $5.05 earnings per share. Equities research analysts forecast that Teledyne Technologies Incorporated will post 19.45 earnings per share for the current year.

Insiders Place Their Bets

In other news, Vice Chairman Jason Vanwees sold 1,500 shares of the stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $488.71, for a total transaction of $733,065.00. Following the transaction, the insider now directly owns 2,900 shares in the company, valued at approximately $1,417,259. This trade represents a 34.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Robert Mehrabian sold 3,925 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $490.50, for a total transaction of $1,925,212.50. Following the completion of the transaction, the chairman now directly owns 171,802 shares of the company’s stock, valued at $84,268,881. This trade represents a 2.23 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 53,525 shares of company stock worth $26,080,464. 1.88% of the stock is currently owned by company 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.