Caprock Group LLC Makes New $314,000 Investment in Teledyne Technologies Incorporated (NYSE:TDY)

Caprock Group LLC bought a new stake in Teledyne Technologies Incorporated (NYSE:TDY) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 677 shares of the scientific and technical instruments company’s stock, valued at approximately $314,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Wolff Wiese Magana LLC acquired a new position in Teledyne Technologies in the 3rd quarter valued at $27,000. Brooklyn Investment Group acquired a new stake in shares of Teledyne Technologies during the 3rd quarter worth $32,000. Wilmington Savings Fund Society FSB bought a new position in shares of Teledyne Technologies in the third quarter worth $39,000. Exchange Traded Concepts LLC raised its stake in Teledyne Technologies by 432.0% in the third quarter. Exchange Traded Concepts LLC now owns 133 shares of the scientific and technical instruments company’s stock valued at $58,000 after purchasing an additional 108 shares in the last quarter. Finally, Salem Investment Counselors Inc. lifted its position in Teledyne Technologies by 85.5% during the fourth quarter. Salem Investment Counselors Inc. now owns 230 shares of the scientific and technical instruments company’s stock worth $107,000 after purchasing an additional 106 shares during the period. 91.58% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, 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 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Robert Mehrabian sold 5,768 shares of the business’s stock in a transaction that occurred on 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 completion of the transaction, the chairman now directly owns 144,553 shares in the company, valued at approximately $74,910,255.66. This trade represents a 3.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 73,258 shares of company stock worth $36,285,371 in the last ninety days. Company insiders own 1.88% of the company’s stock.

Teledyne Technologies Price Performance

TDY stock opened at $510.60 on Friday. Teledyne Technologies Incorporated has a 1 year low of $355.41 and a 1 year high of $522.50. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.33 and a quick ratio of 1.61. The stock has a market cap of $23.79 billion, a price-to-earnings ratio of 29.63, a P/E/G ratio of 3.21 and a beta of 1.02. The company has a 50 day simple moving average of $479.48 and a 200 day simple moving average of $453.81.

Teledyne Technologies (NYSE:TDY) last announced its quarterly earnings results on Wednesday, January 22nd. The scientific and technical instruments company reported $5.52 EPS for the quarter, beating analysts’ consensus estimates of $5.23 by $0.29. The company had revenue of $1.50 billion during the quarter, compared to analysts’ expectations 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 was up 5.4% compared to the same quarter last year. During the same period in the prior year, the company earned $5.44 EPS. Research analysts anticipate that Teledyne Technologies Incorporated will post 21.51 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on TDY shares. TD Cowen boosted their target price 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. UBS Group started 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 for the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $585.00 target price on shares of Teledyne Technologies in a report on Wednesday. Finally, Bank of America upgraded Teledyne Technologies from a “neutral” rating to a “buy” rating and lifted their price target for the company from $450.00 to $550.00 in a research note on Friday, November 8th. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, Teledyne Technologies has a consensus rating of “Buy” and a consensus target price of $538.00.

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.