Quantessence Capital LLC Purchases Shares of 881 Teledyne Technologies Incorporated (NYSE:TDY)

Quantessence Capital LLC bought a new position in Teledyne Technologies Incorporated (NYSE:TDY) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 881 shares of the scientific and technical instruments company’s stock, valued at approximately $409,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Barclays PLC increased its position in Teledyne Technologies by 4.9% in the 3rd quarter. Barclays PLC now owns 102,490 shares of the scientific and technical instruments company’s stock worth $44,854,000 after buying an additional 4,765 shares during the period. SkyView Investment Advisors LLC increased its stake in Teledyne Technologies by 2.5% during the third quarter. SkyView Investment Advisors LLC now owns 1,837 shares of the scientific and technical instruments company’s stock valued at $804,000 after acquiring an additional 45 shares during the period. Anchor Investment Management LLC lifted its position in shares of Teledyne Technologies by 114.4% in the 3rd quarter. Anchor Investment Management LLC now owns 253 shares of the scientific and technical instruments company’s stock worth $111,000 after acquiring an additional 135 shares during the period. Wilmington Savings Fund Society FSB acquired a new stake in shares of Teledyne Technologies during the 3rd quarter worth approximately $39,000. Finally, Tidal Investments LLC raised its stake in shares of Teledyne Technologies by 26.7% in the third quarter. Tidal Investments LLC now owns 5,486 shares of the scientific and technical instruments company’s stock valued at $2,401,000 after purchasing an additional 1,157 shares in the last quarter. Institutional investors and hedge funds own 91.58% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on TDY. Needham & Company LLC reissued a “buy” rating and issued a $585.00 price target on shares of Teledyne Technologies in a research report on Wednesday, February 5th. Bank of America upped their target price on shares of Teledyne Technologies from $550.00 to $600.00 and gave the stock a “buy” rating in a report on Monday, March 17th. Finally, StockNews.com raised shares of Teledyne Technologies from a “hold” rating to a “buy” rating in a research note on Wednesday, April 16th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $548.00.

Insider Activity

In related news, VP Cynthia Y. Belak sold 5,745 shares of the company’s stock in a transaction dated 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 sale, the vice president now owns 4,962 shares in the company, valued at approximately $2,522,383.08. This represents a 53.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, COO George C. Bobb III sold 6,308 shares of the 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 in the company, valued at $5,322,445.14. This 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 have sold 34,571 shares of company stock valued at $17,709,721. 1.50% of the stock is currently owned by insiders.

Teledyne Technologies Stock Performance

Shares of Teledyne Technologies stock opened at $460.67 on Wednesday. The firm has a 50 day simple moving average of $484.49 and a 200 day simple moving average of $478.50. The firm has a market cap of $21.58 billion, a P/E ratio of 26.74, a P/E/G ratio of 3.14 and a beta of 1.03. Teledyne Technologies Incorporated has a fifty-two week low of $355.41 and a fifty-two week 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.

Teledyne Technologies (NYSE:TDY) last posted its quarterly earnings results on Wednesday, January 22nd. The scientific and technical instruments company reported $5.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.23 by $0.29. The business had revenue of $1.50 billion for the quarter, compared to analysts’ expectations of $1.45 billion. Teledyne Technologies had a return on equity of 9.94% and a net margin of 14.45%. The firm’s quarterly 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. Sell-side analysts predict that Teledyne Technologies Incorporated will post 21.55 earnings per share for the current fiscal 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.