SVB Wealth LLC Buys New Stake in Teledyne Technologies Incorporated (NYSE:TDY)

SVB Wealth LLC purchased a new position in shares of Teledyne Technologies Incorporated (NYSE:TDY) during the fourth quarter, Holdings Channel reports. The fund purchased 12,787 shares of the scientific and technical instruments company’s stock, valued at approximately $5,935,000.

Several other hedge funds and other institutional investors have also modified their holdings of TDY. Brooklyn Investment Group purchased a new position in shares of Teledyne Technologies in the third quarter valued at approximately $32,000. Wilmington Savings Fund Society FSB acquired a new stake in Teledyne Technologies during the 3rd quarter worth approximately $39,000. Newbridge Financial Services Group Inc. purchased a new position in Teledyne Technologies in the 4th quarter valued at approximately $46,000. Private Trust Co. NA grew its stake in shares of Teledyne Technologies by 43.0% in the fourth quarter. Private Trust Co. NA now owns 173 shares of the scientific and technical instruments company’s stock worth $80,000 after acquiring an additional 52 shares in the last quarter. Finally, Allworth Financial LP increased its position in shares of Teledyne Technologies by 15.1% during the fourth quarter. Allworth Financial LP now owns 206 shares of the scientific and technical instruments company’s stock worth $105,000 after acquiring an additional 27 shares during the period. 91.58% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Insider Activity

In related news, Director Michael T. Smith sold 2,025 shares of the business’s stock in a transaction on Thursday, December 12th. The shares were 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Cynthia Y. Belak sold 5,745 shares of the firm’s stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $508.34, for a total value of $2,920,413.30. Following the transaction, the vice president now directly owns 4,962 shares in the company, valued at approximately $2,522,383.08. The trade was a 53.66 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 32,190 shares of company stock worth $16,386,864. Corporate insiders own 1.88% of the company’s stock.

Teledyne Technologies Stock Up 2.9 %

Shares of NYSE TDY opened at $515.60 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 market capitalization of $24.15 billion, a price-to-earnings ratio of 29.92, 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 current ratio of 2.33 and a quick ratio of 1.61. The business has a 50-day moving average of $488.76 and a two-hundred day moving average of $464.15.

Teledyne Technologies (NYSE:TDY) last posted its earnings results on Wednesday, January 22nd. The scientific and technical instruments company reported $5.52 earnings per share for the quarter, topping the consensus estimate of $5.23 by $0.29. The firm 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%. The firm’s revenue was up 5.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $5.44 earnings per share. On average, analysts forecast that Teledyne Technologies Incorporated will post 21.55 earnings per share for the current fiscal year.

Teledyne Technologies Company 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.