EverSource Wealth Advisors LLC Acquires 46 Shares of Teledyne Technologies Incorporated (NYSE:TDY)

EverSource Wealth Advisors LLC raised its stake in shares of Teledyne Technologies Incorporated (NYSE:TDY) by 6.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 721 shares of the scientific and technical instruments company’s stock after acquiring an additional 46 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in Teledyne Technologies were worth $335,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in TDY. State Street Corp boosted its position in Teledyne Technologies by 1.9% during the third quarter. State Street Corp now owns 2,040,896 shares of the scientific and technical instruments company’s stock valued at $893,219,000 after purchasing an additional 37,884 shares in the last quarter. Janus Henderson Group PLC grew its position in shares of Teledyne Technologies by 0.6% in the 3rd quarter. Janus Henderson Group PLC now owns 1,709,475 shares of the scientific and technical instruments company’s stock worth $748,167,000 after buying an additional 9,368 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Teledyne Technologies by 2.4% during the 3rd quarter. Geode Capital Management LLC now owns 1,192,019 shares of the scientific and technical instruments company’s stock worth $520,335,000 after acquiring an additional 28,224 shares in the last quarter. JPMorgan Chase & Co. lifted its position in Teledyne Technologies by 6.0% during the third quarter. JPMorgan Chase & Co. now owns 1,150,065 shares of the scientific and technical instruments company’s stock valued at $503,338,000 after acquiring an additional 64,617 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its stake in Teledyne Technologies by 10.5% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 318,712 shares of the scientific and technical instruments company’s stock valued at $145,974,000 after acquiring an additional 30,157 shares in the last quarter. 91.58% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

TDY has been the subject of several analyst reports. Needham & Company LLC reiterated a “buy” rating and set a $585.00 price objective on shares of Teledyne Technologies in a report on Wednesday, February 5th. UBS Group assumed coverage on Teledyne Technologies in a research note on Tuesday, December 10th. They issued a “buy” rating and a $585.00 price target for the company. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $538.00.

Teledyne Technologies Stock Performance

Shares of TDY stock opened at $491.72 on Friday. The business has a fifty day moving average of $493.19 and a 200 day moving average of $469.56. Teledyne Technologies Incorporated has a 1 year low of $355.41 and a 1 year 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 firm has a market capitalization of $23.03 billion, a price-to-earnings ratio of 28.54, a price-to-earnings-growth ratio of 3.14 and a beta of 1.03.

Teledyne Technologies (NYSE:TDY) last announced its quarterly earnings data on Wednesday, January 22nd. The scientific and technical instruments company reported $5.52 earnings per share (EPS) for the quarter, topping 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 analysts’ expectations of $1.45 billion. During the same period last year, the business posted $5.44 earnings per share. The company’s revenue for the quarter was up 5.4% compared to the same quarter last year. As a group, research analysts expect 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 business’s stock in a transaction on 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 completion of the transaction, the vice president now directly owns 4,962 shares in the company, valued at $2,522,383.08. The trade was a 53.66 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO George C. Bobb III sold 6,308 shares of the stock in a transaction on Friday, January 24th. The stock was sold at an average price of $507.77, for a total transaction 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. This trade represents a 37.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 34,571 shares of company stock worth $17,709,721. Insiders own 2.14% of the company’s stock.

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.