Procyon Advisors LLC Raises Stock Position in Teledyne Technologies Incorporated (NYSE:TDY)

Procyon Advisors LLC boosted its position in shares of Teledyne Technologies Incorporated (NYSE:TDY) by 10.1% in the fourth quarter, HoldingsChannel reports. The fund owned 1,072 shares of the scientific and technical instruments company’s stock after purchasing an additional 98 shares during the quarter. Procyon Advisors LLC’s holdings in Teledyne Technologies were worth $498,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of TDY. Metis Global Partners LLC boosted its holdings in Teledyne Technologies by 1.6% in the third quarter. Metis Global Partners LLC now owns 1,514 shares of the scientific and technical instruments company’s stock worth $663,000 after acquiring an additional 24 shares in the last quarter. Crumly & Associates Inc. raised its position in shares of Teledyne Technologies by 3.8% in the 3rd quarter. Crumly & Associates Inc. now owns 677 shares of the scientific and technical instruments company’s stock valued at $296,000 after purchasing an additional 25 shares during the last quarter. Raymond James Trust N.A. boosted its stake in Teledyne Technologies by 4.8% in the 3rd 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 in the last quarter. Bleakley Financial Group LLC increased its stake in Teledyne Technologies by 4.0% during the 3rd quarter. Bleakley Financial Group LLC now owns 681 shares of the scientific and technical instruments company’s stock valued at $298,000 after purchasing an additional 26 shares in the last quarter. Finally, Summit Trail Advisors LLC raised its holdings in shares of Teledyne Technologies by 3.9% in the second quarter. Summit Trail Advisors LLC now owns 720 shares of the scientific and technical instruments company’s stock worth $279,000 after buying an additional 27 shares during the last quarter. 91.58% of the stock is currently owned by institutional investors and hedge funds.

Teledyne Technologies Stock Up 0.3 %

Teledyne Technologies stock opened at $473.41 on Friday. Teledyne Technologies Incorporated has a 52 week low of $355.41 and a 52 week high of $492.00. The firm has a market cap of $22.06 billion, a price-to-earnings ratio of 23.93, a price-to-earnings-growth ratio of 2.85 and a beta of 1.01. The business’s 50-day moving average price is $472.00 and its 200 day moving average price is $443.32. The company has a quick ratio of 1.35, a current ratio of 2.00 and a debt-to-equity ratio of 0.28.

Teledyne Technologies (NYSE:TDY) last posted its earnings results on Wednesday, October 23rd. The scientific and technical instruments company reported $5.10 earnings per share for the quarter, beating the consensus estimate of $4.97 by $0.13. Teledyne Technologies had a net margin of 16.88% and a return on equity of 10.02%. The firm had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.42 billion. During the same period in the previous year, the firm earned $5.05 EPS. The business’s quarterly revenue was up 2.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Teledyne Technologies Incorporated will post 19.45 earnings per share for the current year.

Insider Activity

In other Teledyne Technologies news, Director Michael T. Smith sold 2,025 shares of the company’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $478.25, for a total transaction of $968,456.25. Following the completion of the transaction, the director now directly owns 54,935 shares in the company, valued at approximately $26,272,663.75. This represents a 3.56 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Vice Chairman Jason Vanwees sold 1,500 shares of Teledyne Technologies stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $488.71, for a total transaction of $733,065.00. Following the completion of the sale, the insider now owns 2,900 shares in the company, valued at approximately $1,417,259. This trade represents a 34.09 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 53,525 shares of company stock worth $26,080,464 in the last ninety days. Company insiders own 1.88% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on TDY. Needham & Company LLC upped their target price on Teledyne Technologies from $528.00 to $550.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Bank of America raised Teledyne Technologies from a “neutral” rating to a “buy” rating and increased their price objective for the company from $450.00 to $550.00 in a report on Friday, November 8th. TD Cowen lifted their target price on Teledyne Technologies from $450.00 to $500.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. UBS Group assumed coverage on shares of Teledyne Technologies in a report on Tuesday, December 10th. They issued a “buy” rating and a $585.00 price target on the stock. Finally, StockNews.com upgraded shares of Teledyne Technologies from a “hold” rating to a “buy” rating in a research note on Wednesday, October 2nd. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Teledyne Technologies currently has an average rating of “Buy” and a consensus target price of $531.00.

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.