Cohen Capital Management Inc. Raises Holdings in Teledyne Technologies Incorporated (NYSE:TDY)

Cohen Capital Management Inc. boosted its stake in Teledyne Technologies Incorporated (NYSE:TDY) by 58.5% during the fourth quarter, Holdings Channel.com reports. The firm owned 11,952 shares of the scientific and technical instruments company’s stock after buying an additional 4,412 shares during the period. Cohen Capital Management Inc.’s holdings in Teledyne Technologies were worth $5,547,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in TDY. Brooklyn Investment Group purchased a new stake in Teledyne Technologies during the 3rd quarter valued at $32,000. Wilmington Savings Fund Society FSB bought a new position in shares of Teledyne Technologies during the third quarter valued at about $39,000. Newbridge Financial Services Group Inc. purchased a new stake in shares of Teledyne Technologies during the fourth quarter worth about $46,000. Allworth Financial LP grew its stake in shares of Teledyne Technologies by 15.1% in the fourth quarter. Allworth Financial LP now owns 206 shares of the scientific and technical instruments company’s stock worth $105,000 after purchasing an additional 27 shares during the last quarter. Finally, Salem Investment Counselors Inc. increased its holdings in Teledyne Technologies by 85.5% during the 4th quarter. Salem Investment Counselors Inc. now owns 230 shares of the scientific and technical instruments company’s stock valued at $107,000 after purchasing an additional 106 shares during the period. Hedge funds and other institutional investors own 91.58% of the company’s stock.

Insider Buying and Selling

In related news, Chairman Robert Mehrabian sold 5,007 shares of the firm’s stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $510.33, for a total value of $2,555,222.31. Following the sale, the chairman now owns 144,553 shares in the company, valued at approximately $73,769,732.49. This trade represents a 3.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 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 value of $968,456.25. Following the completion of the sale, the director now directly owns 54,935 shares of the company’s stock, valued at $26,272,663.75. The trade was a 3.56 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 32,190 shares of company stock worth $16,386,864 in the last quarter. Corporate insiders own 2.14% of the company’s stock.

Analyst Upgrades and Downgrades

TDY has been the subject of several research analyst reports. Bank of America upgraded Teledyne Technologies from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $450.00 to $550.00 in a report on Friday, November 8th. Needham & Company LLC reaffirmed a “buy” rating and issued a $585.00 price target on shares of Teledyne Technologies in a research note on Wednesday, February 5th. Finally, UBS Group assumed coverage on shares of Teledyne Technologies in a research report on Tuesday, December 10th. They set a “buy” rating and a $585.00 price objective on the stock. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $538.00.

Teledyne Technologies Stock Down 1.9 %

Shares of NYSE:TDY opened at $491.27 on Friday. The firm has a market capitalization of $22.89 billion, a P/E ratio of 28.51, a P/E/G ratio of 3.14 and a beta of 1.03. The stock has a 50 day moving average price of $485.23 and a 200-day moving average price of $461.22. Teledyne Technologies Incorporated has a 52-week low of $355.41 and a 52-week high of $522.50. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.61 and a current ratio of 2.33.

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 for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $1.45 billion. During the same quarter in the prior year, the company earned $5.44 earnings per share. The business’s revenue was up 5.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Teledyne Technologies Incorporated will post 21.55 EPS for the current fiscal year.

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.