Choreo LLC Has $692,000 Stock Position in Teledyne Technologies Incorporated (NYSE:TDY)

Choreo LLC raised its position in shares of Teledyne Technologies Incorporated (NYSE:TDY) by 55.5% in the 4th quarter, Holdings Channel reports. The firm owned 1,488 shares of the scientific and technical instruments company’s stock after acquiring an additional 531 shares during the period. Choreo LLC’s holdings in Teledyne Technologies were worth $692,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of TDY. International Assets Investment Management LLC grew its stake in shares of Teledyne Technologies by 44,457.2% during the third quarter. International Assets Investment Management LLC now owns 73,965 shares of the scientific and technical instruments company’s stock worth $32,372,000 after buying an additional 73,799 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of Teledyne Technologies by 6.0% in the third quarter. JPMorgan Chase & Co. now owns 1,150,065 shares of the scientific and technical instruments company’s stock worth $503,338,000 after purchasing an additional 64,617 shares during the last quarter. Jennison Associates LLC bought a new stake in shares of Teledyne Technologies in the fourth quarter worth $19,310,000. State Street Corp grew its stake in shares of Teledyne Technologies by 1.9% in the third quarter. State Street Corp now owns 2,040,896 shares of the scientific and technical instruments company’s stock worth $893,219,000 after purchasing an additional 37,884 shares during the last quarter. Finally, National Bank of Canada FI grew its stake in shares of Teledyne Technologies by 217.5% in the third quarter. National Bank of Canada FI now owns 53,819 shares of the scientific and technical instruments company’s stock worth $23,554,000 after purchasing an additional 36,867 shares during the last quarter. Institutional investors own 91.58% of the company’s stock.

Teledyne Technologies Stock Performance

Shares of TDY opened at $511.38 on Tuesday. The firm’s fifty day simple moving average is $480.48 and its two-hundred day simple moving average is $455.64. Teledyne Technologies Incorporated has a 12 month low of $355.41 and a 12 month high of $522.50. The stock has a market capitalization of $23.83 billion, a P/E ratio of 29.68, a price-to-earnings-growth ratio of 3.19 and a beta of 1.03. The company has a current ratio of 2.33, a quick ratio of 1.61 and a debt-to-equity ratio of 0.28.

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, 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 firm had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.45 billion. During the same quarter in the prior year, the business earned $5.44 earnings per share. The business’s quarterly revenue was up 5.4% compared to the same quarter last year. As a group, analysts predict that Teledyne Technologies Incorporated will post 21.59 EPS for the current year.

Insider Activity

In related news, Chairman Robert Mehrabian sold 5,768 shares of the company’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $518.22, for a total value of $2,989,092.96. Following the sale, the chairman now owns 144,553 shares in the company, valued at $74,910,255.66. This represents a 3.84 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Michael T. Smith sold 2,025 shares of the company’s stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $478.25, for a total transaction of $968,456.25. Following the completion of the sale, the director now owns 54,935 shares in the company, valued at $26,272,663.75. This represents a 3.56 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 32,190 shares of company stock worth $16,386,864. Company insiders own 2.14% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. Bank of America raised shares of Teledyne Technologies from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $450.00 to $550.00 in a research note on Friday, November 8th. UBS Group initiated coverage on shares of Teledyne Technologies in a research note on Tuesday, December 10th. They issued a “buy” rating and a $585.00 price objective on the stock. TD Cowen upped their price target on shares of Teledyne Technologies from $450.00 to $500.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $585.00 price target on shares of Teledyne Technologies in a research report on Wednesday, February 5th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price 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.