Martingale Asset Management L P Invests $2.86 Million in Teledyne Technologies Incorporated (NYSE:TDY)

Martingale Asset Management L P acquired a new stake in Teledyne Technologies Incorporated (NYSE:TDY) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 6,169 shares of the scientific and technical instruments company’s stock, valued at approximately $2,863,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of Teledyne Technologies by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 5,612,484 shares of the scientific and technical instruments company’s stock valued at $2,604,922,000 after purchasing an additional 46,479 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Teledyne Technologies by 2.4% during the 3rd quarter. Geode Capital Management LLC now owns 1,192,019 shares of the scientific and technical instruments company’s stock valued at $520,335,000 after acquiring an additional 28,224 shares during the last quarter. JPMorgan Chase & Co. grew its holdings 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 valued at $503,338,000 after purchasing an additional 64,617 shares during the period. Norges Bank purchased a new position in Teledyne Technologies during the fourth quarter worth about $306,042,000. Finally, Invesco Ltd. boosted its holdings in Teledyne Technologies by 4.6% in the 4th quarter. Invesco Ltd. now owns 626,522 shares of the scientific and technical instruments company’s stock valued at $290,788,000 after purchasing an additional 27,454 shares during the last quarter. Institutional investors and hedge funds own 91.58% of the company’s stock.

Teledyne Technologies Stock Down 1.9 %

Shares of TDY opened at $459.84 on Friday. Teledyne Technologies Incorporated has a 1 year low of $355.41 and a 1 year high of $522.50. The company’s 50-day simple moving average is $491.98 and its 200-day simple moving average is $477.15. The stock has a market capitalization of $21.54 billion, a PE ratio of 26.69, a P/E/G ratio of 3.14 and a beta of 1.03. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.61 and a current ratio of 2.33.

Teledyne Technologies (NYSE:TDY) last posted its quarterly earnings data on Wednesday, January 22nd. The scientific and technical instruments company reported $5.52 earnings per share for the quarter, topping analysts’ consensus estimates of $5.23 by $0.29. Teledyne Technologies had a return on equity of 9.94% and a net margin of 14.45%. The business 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 company earned $5.44 earnings per share. The company’s revenue was up 5.4% on a year-over-year basis. Analysts forecast that Teledyne Technologies Incorporated will post 21.55 earnings per share for the current fiscal year.

Insider Transactions at Teledyne Technologies

In other news, Chairman Robert Mehrabian sold 5,768 shares of the firm’s stock in a transaction 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 sale, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Melanie Susan Cibik sold 706 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $519.96, for a total value of $367,091.76. Following the completion of the transaction, the executive vice president now directly owns 26,529 shares of the company’s stock, valued at $13,794,018.84. This trade represents a 2.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 34,571 shares of company stock valued at $17,709,721. 1.50% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have recently commented on TDY shares. Needham & Company LLC reiterated a “buy” rating and issued a $585.00 price objective on shares of Teledyne Technologies in a report on Wednesday, February 5th. StockNews.com cut Teledyne Technologies from a “buy” rating to a “hold” rating in a report on Wednesday, April 2nd. Finally, Bank of America boosted their price objective on shares of Teledyne Technologies from $550.00 to $600.00 and gave the company a “buy” rating in a report on Monday, March 17th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $548.00.

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.