Oak Thistle LLC Makes New $412,000 Investment in Teledyne Technologies Incorporated (NYSE:TDY)

Oak Thistle LLC bought a new stake in Teledyne Technologies Incorporated (NYSE:TDY) in the fourth quarter, HoldingsChannel.com reports. The firm bought 887 shares of the scientific and technical instruments company’s stock, valued at approximately $412,000.

Several other institutional investors and hedge funds have also modified their holdings of TDY. JPMorgan Chase & Co. boosted its holdings in Teledyne Technologies by 6.0% in the 3rd 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. Verition Fund Management LLC grew its position in Teledyne Technologies by 240.5% during the third quarter. Verition Fund Management LLC now owns 36,524 shares of the scientific and technical instruments company’s stock worth $15,985,000 after buying an additional 25,796 shares in the last quarter. National Bank of Canada FI increased its stake in Teledyne Technologies by 217.5% during the 3rd 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 acquiring an additional 36,867 shares during the period. West Oak Capital LLC raised its holdings in Teledyne Technologies by 4,721.8% in the 4th quarter. West Oak Capital LLC now owns 11,283 shares of the scientific and technical instruments company’s stock valued at $5,237,000 after acquiring an additional 11,049 shares in the last quarter. Finally, Polar Asset Management Partners Inc. bought a new stake in shares of Teledyne Technologies during the 3rd quarter valued at $5,208,000. 91.58% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Vice Chairman Jason Vanwees sold 1,500 shares of the firm’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $488.71, for a total transaction of $733,065.00. Following the completion of the transaction, the insider now owns 2,900 shares of the company’s stock, valued at approximately $1,417,259. This trade represents a 34.09 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Michael T. Smith sold 2,025 shares of the business’s stock in a transaction on 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 directly owns 54,935 shares in the company, valued at approximately $26,272,663.75. This represents a 3.56 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 53,525 shares of company stock worth $26,080,464 in the last ninety days. Company insiders own 1.88% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on TDY shares. UBS Group started coverage on Teledyne Technologies in a research report on Tuesday, December 10th. They issued a “buy” rating and a $585.00 price target on the stock. Needham & Company LLC upped their price target on shares of Teledyne Technologies from $528.00 to $550.00 and gave the stock a “buy” rating in a report on Monday, November 11th. StockNews.com raised shares of Teledyne Technologies from a “hold” rating to a “buy” rating in a research note on Wednesday, October 2nd. Bank of America raised Teledyne Technologies from a “neutral” rating to a “buy” rating and raised their target price for the company from $450.00 to $550.00 in a report on Friday, November 8th. Finally, TD Cowen boosted their price target on Teledyne Technologies from $450.00 to $500.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Six equities 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 $531.00.

Teledyne Technologies Stock Performance

Shares of Teledyne Technologies stock opened at $472.26 on Friday. The company’s 50 day moving average price is $472.32 and its two-hundred day moving average price is $442.29. The firm has a market capitalization of $22.01 billion, a P/E ratio of 23.88, a P/E/G ratio of 2.85 and a beta of 1.01. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.00 and a quick ratio of 1.35. Teledyne Technologies Incorporated has a fifty-two week low of $355.41 and a fifty-two week high of $492.00.

Teledyne Technologies (NYSE:TDY) last issued its earnings results on Wednesday, October 23rd. The scientific and technical instruments company reported $5.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.97 by $0.13. Teledyne Technologies had a return on equity of 10.02% and a net margin of 16.88%. The business had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.42 billion. During the same quarter in the prior year, the firm earned $5.05 EPS. The business’s revenue for the quarter was up 2.9% compared to the same quarter last year. On average, equities analysts forecast that Teledyne Technologies Incorporated will post 19.45 earnings per share for the current fiscal 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.