Newbridge Financial Services Group Inc. Purchases New Position in Teledyne Technologies Incorporated (NYSE:TDY)

Newbridge Financial Services Group Inc. purchased a new stake in Teledyne Technologies Incorporated (NYSE:TDY) during the fourth quarter, Holdings Channel reports. The institutional investor purchased 100 shares of the scientific and technical instruments company’s stock, valued at approximately $46,000.

A number of other hedge funds have also modified their holdings of the company. State Street Corp raised its position in shares of Teledyne Technologies by 1.9% in the 3rd 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 acquiring an additional 37,884 shares during the period. Janus Henderson Group PLC raised its holdings in Teledyne Technologies by 0.6% during 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 period. Geode Capital Management LLC raised its holdings in 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 buying an additional 28,224 shares during the period. JPMorgan Chase & Co. raised its holdings in Teledyne Technologies by 6.0% during 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 buying an additional 64,617 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in Teledyne Technologies by 0.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 291,279 shares of the scientific and technical instruments company’s stock worth $127,481,000 after buying an additional 2,206 shares during the period. 91.58% of the stock is currently owned by institutional investors and hedge funds.

Teledyne Technologies Price Performance

NYSE:TDY opened at $508.78 on Wednesday. Teledyne Technologies Incorporated has a 1-year low of $355.41 and a 1-year high of $522.50. The company has a current ratio of 2.33, a quick ratio of 1.61 and a debt-to-equity ratio of 0.28. The firm has a fifty day simple moving average of $481.11 and a 200 day simple moving average of $456.31. The stock has a market capitalization of $23.71 billion, a PE ratio of 29.53, a P/E/G ratio of 3.19 and a beta of 1.03.

Teledyne Technologies (NYSE:TDY) last released its earnings results on Wednesday, January 22nd. The scientific and technical instruments company reported $5.52 earnings per share for the quarter, beating the consensus estimate of $5.23 by $0.29. Teledyne Technologies had a net margin of 14.45% and a return on equity of 9.94%. The business 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 earned $5.44 earnings per share. The firm’s revenue was up 5.4% on a year-over-year basis. On average, research analysts expect that Teledyne Technologies Incorporated will post 21.59 EPS for the current fiscal year.

Insider Activity at Teledyne Technologies

In other Teledyne Technologies news, Chairman Robert Mehrabian sold 5,768 shares of Teledyne Technologies stock in a transaction on Friday, January 31st. The shares were sold at an average price of $518.22, for a total transaction of $2,989,092.96. Following the completion of the transaction, the chairman now directly owns 144,553 shares of the company’s stock, valued at $74,910,255.66. The trade was a 3.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Michael T. Smith sold 2,025 shares of Teledyne Technologies stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $478.25, for a total transaction of $968,456.25. Following the transaction, the director now directly owns 54,935 shares of the company’s stock, valued at approximately $26,272,663.75. This trade represents a 3.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 32,190 shares of company stock valued at $16,386,864. 2.14% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Needham & Company LLC restated a “buy” rating and set a $585.00 target price on shares of Teledyne Technologies in a report on Wednesday, February 5th. Bank of America upgraded shares of Teledyne Technologies from a “neutral” rating to a “buy” rating and raised their target price for the stock from $450.00 to $550.00 in a report on Friday, November 8th. TD Cowen raised their target price on shares of Teledyne Technologies from $450.00 to $500.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Finally, UBS Group assumed coverage on shares of Teledyne Technologies in a report on Tuesday, December 10th. They set a “buy” rating and a $585.00 target price on the stock. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $538.00.

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.