Allianz SE Buys New Position in Teledyne Technologies Incorporated (NYSE:TDY)

Allianz SE purchased a new stake in Teledyne Technologies Incorporated (NYSE:TDY) in the fourth quarter, Holdings Channel.com reports. The fund purchased 3,218 shares of the scientific and technical instruments company’s stock, valued at approximately $1,497,000.

Other large investors have also bought and sold shares of the company. Brooklyn Investment Group purchased a new stake in shares of Teledyne Technologies in the third quarter valued at about $32,000. Wilmington Savings Fund Society FSB bought a new stake in Teledyne Technologies in the 3rd quarter worth about $39,000. Millstone Evans Group LLC purchased a new stake in Teledyne Technologies in the 4th quarter valued at about $42,000. Newbridge Financial Services Group Inc. bought a new position in shares of Teledyne Technologies during the 4th quarter worth approximately $46,000. Finally, Tortoise Investment Management LLC boosted its stake in shares of Teledyne Technologies by 63.2% in the 4th quarter. Tortoise Investment Management LLC now owns 124 shares of the scientific and technical instruments company’s stock worth $58,000 after buying an additional 48 shares during the last quarter. 91.58% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

Insiders Place Their Bets

In other news, COO George C. Bobb III sold 6,308 shares of the stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $507.77, for a total value of $3,203,013.16. Following the sale, the chief operating officer now directly owns 10,482 shares of the company’s stock, valued at approximately $5,322,445.14. This represents a 37.57 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Cynthia Y. Belak sold 5,745 shares of the business’s stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $508.34, for a total transaction of $2,920,413.30. Following the transaction, the vice president now directly owns 4,962 shares of the company’s stock, valued at approximately $2,522,383.08. This represents a 53.66 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 34,571 shares of company stock worth $17,709,721 in the last quarter. 1.50% of the stock is owned by company insiders.

Teledyne Technologies Price Performance

TDY opened at $494.78 on Friday. The company has a market capitalization of $23.17 billion, a price-to-earnings ratio of 28.72, a PEG ratio of 3.14 and a beta of 1.03. The company has a quick ratio of 1.61, a current ratio of 2.33 and a debt-to-equity ratio of 0.28. The firm has a 50-day moving average price of $501.03 and a 200-day moving average price of $474.86. Teledyne Technologies Incorporated has a twelve month low of $355.41 and a twelve month high of $522.50.

Teledyne Technologies (NYSE:TDY) last issued its earnings results on Wednesday, January 22nd. The scientific and technical instruments company reported $5.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.23 by $0.29. Teledyne Technologies had a net margin of 14.45% and a return on equity of 9.94%. The business had revenue of $1.50 billion for the quarter, compared to analysts’ expectations of $1.45 billion. During the same quarter in the previous year, the firm posted $5.44 EPS. The business’s revenue for the quarter was up 5.4% compared to the same quarter last year. Equities analysts expect that Teledyne Technologies Incorporated will post 21.55 EPS for the current year.

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.