Millstone Evans Group LLC Makes New Investment in Teledyne Technologies Incorporated (NYSE:TDY)

Millstone Evans Group LLC purchased a new stake in shares of Teledyne Technologies Incorporated (NYSE:TDY) in the 4th quarter, HoldingsChannel reports. The institutional investor purchased 91 shares of the scientific and technical instruments company’s stock, valued at approximately $42,000.

Several other institutional investors have also modified their holdings of the company. Stratos Wealth Partners LTD. raised its stake in Teledyne Technologies by 4.4% during the 4th quarter. Stratos Wealth Partners LTD. now owns 500 shares of the scientific and technical instruments company’s stock valued at $232,000 after acquiring an additional 21 shares in the last quarter. Ironwood Investment Management LLC raised its stake in shares of Teledyne Technologies by 0.8% during the fourth quarter. Ironwood Investment Management LLC now owns 2,876 shares of the scientific and technical instruments company’s stock valued at $1,335,000 after purchasing an additional 22 shares in the last quarter. Raymond James Trust N.A. lifted its holdings in Teledyne Technologies by 4.8% in the third quarter. Raymond James Trust N.A. now owns 550 shares of the scientific and technical instruments company’s stock worth $241,000 after purchasing an additional 25 shares during the period. New York Life Investment Management LLC grew its position in Teledyne Technologies by 0.4% in the 4th quarter. New York Life Investment Management LLC now owns 6,214 shares of the scientific and technical instruments company’s stock valued at $2,884,000 after buying an additional 25 shares in the last quarter. Finally, Allworth Financial LP increased its stake in Teledyne Technologies by 15.1% during the 4th quarter. Allworth Financial LP now owns 206 shares of the scientific and technical instruments company’s stock valued at $105,000 after buying an additional 27 shares during the period. Institutional investors own 91.58% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on TDY shares. Needham & Company LLC reiterated a “buy” rating and issued a $585.00 price objective on shares of Teledyne Technologies in a report on Wednesday, February 5th. UBS Group initiated coverage on Teledyne Technologies in a research report on Tuesday, December 10th. They set a “buy” rating and a $585.00 price target on the stock. Finally, Bank of America upped their price objective on Teledyne Technologies from $550.00 to $600.00 and gave the company a “buy” rating in a report on Monday, March 17th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Teledyne Technologies has an average rating of “Buy” and an average price target of $548.00.

Teledyne Technologies Price Performance

Shares of NYSE:TDY opened at $507.63 on Tuesday. The company has a market capitalization of $23.78 billion, a PE ratio of 29.46, a price-to-earnings-growth ratio of 3.14 and a beta of 1.03. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.61 and a current ratio of 2.33. The stock has a fifty day moving average of $498.18 and a 200-day moving average of $472.92. Teledyne Technologies Incorporated has a one year low of $355.41 and a one year high of $522.50.

Teledyne Technologies (NYSE:TDY) last released its quarterly earnings results on Wednesday, January 22nd. The scientific and technical instruments company reported $5.52 earnings per share for the quarter, beating analysts’ consensus estimates of $5.23 by $0.29. The business had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.45 billion. Teledyne Technologies had a return on equity of 9.94% and a net margin of 14.45%. Teledyne Technologies’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same quarter last year, the company posted $5.44 EPS. As a group, equities analysts anticipate that Teledyne Technologies Incorporated will post 21.55 EPS for the current fiscal year.

Insider Transactions at Teledyne Technologies

In other Teledyne Technologies news, EVP Melanie Susan Cibik sold 706 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $519.96, for a total transaction of $367,091.76. Following the completion of the sale, the executive vice president now directly owns 26,529 shares in the company, valued at approximately $13,794,018.84. This trade represents a 2.59 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Vice Chairman Jason Vanwees sold 3,700 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $520.06, for a total value of $1,924,222.00. Following the completion of the transaction, the insider now owns 51,324 shares in the company, valued at $26,691,559.44. This represents a 6.72 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 34,571 shares of company stock valued at $17,709,721 over the last ninety days. Corporate insiders own 2.14% of the company’s stock.

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.