Hurley Capital LLC Makes New Investment in Teledyne Technologies Incorporated (NYSE:TDY)

Hurley Capital LLC bought a new position in shares of Teledyne Technologies Incorporated (NYSE:TDY) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 72 shares of the scientific and technical instruments company’s stock, valued at approximately $33,000.

Several other institutional investors also recently made changes to their positions in TDY. Norges Bank acquired a new stake in shares of Teledyne Technologies in the fourth quarter valued at about $306,042,000. Madison Investment Advisors LLC acquired a new stake in shares of Teledyne Technologies during the 4th quarter valued at approximately $94,721,000. Raymond James Financial Inc. purchased a new stake in shares of Teledyne Technologies during the 4th quarter worth approximately $53,304,000. JPMorgan Chase & Co. grew its holdings in shares of Teledyne Technologies by 6.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,150,065 shares of the scientific and technical instruments company’s stock worth $503,338,000 after acquiring an additional 64,617 shares during the period. Finally, Diamond Hill Capital Management Inc. purchased a new position in Teledyne Technologies in the 4th quarter valued at approximately $29,348,000. 91.58% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. UBS Group started coverage on Teledyne Technologies in a research report on Tuesday, December 10th. They set a “buy” rating and a $585.00 target price on the stock. StockNews.com cut shares of Teledyne Technologies from a “buy” rating to a “hold” rating in a research note on Wednesday. Bank of America lifted their target price 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, Needham & Company LLC reiterated a “buy” rating and issued a $585.00 price target on shares of Teledyne Technologies in a research report on Wednesday, February 5th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $548.00.

Insider Transactions at Teledyne Technologies

In other news, VP Cynthia Y. Belak sold 5,745 shares of the stock in a transaction dated Friday, January 24th. The shares were 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 in the company, valued at $2,522,383.08. This represents a 53.66 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO George C. Bobb III sold 6,308 shares of the business’s stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $507.77, for a total transaction of $3,203,013.16. Following the completion of the sale, the chief operating officer now owns 10,482 shares of the company’s stock, valued at approximately $5,322,445.14. The trade was a 37.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 34,571 shares of company stock worth $17,709,721 over the last quarter. 1.50% of the stock is currently owned by insiders.

Teledyne Technologies Price Performance

Teledyne Technologies stock opened at $436.32 on Friday. The stock has a market capitalization of $20.44 billion, a P/E ratio of 25.32, a P/E/G ratio of 3.14 and a beta of 1.03. 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 firm’s 50-day moving average is $499.21 and its two-hundred day moving average is $476.72.

Teledyne Technologies (NYSE:TDY) last announced its earnings results on Wednesday, January 22nd. The scientific and technical instruments company reported $5.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.23 by $0.29. The firm had revenue of $1.50 billion for 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%. Teledyne Technologies’s revenue was up 5.4% compared to the same quarter last year. During the same quarter last year, the business earned $5.44 earnings per share. Equities analysts predict that Teledyne Technologies Incorporated will post 21.55 earnings per share 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.