Mizuho Securities USA LLC Boosts Stake in Teledyne Technologies Incorporated (NYSE:TDY)

Mizuho Securities USA LLC lifted its holdings in shares of Teledyne Technologies Incorporated (NYSE:TDY) by 45.6% in the fourth quarter, HoldingsChannel.com reports. The firm owned 4,417 shares of the scientific and technical instruments company’s stock after acquiring an additional 1,383 shares during the quarter. Mizuho Securities USA LLC’s holdings in Teledyne Technologies were worth $2,050,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Brooklyn Investment Group purchased a new position in Teledyne Technologies during the third quarter worth about $32,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Teledyne Technologies in the 3rd quarter worth approximately $39,000. Millstone Evans Group LLC purchased a new position in shares of Teledyne Technologies during the 4th quarter worth approximately $42,000. Newbridge Financial Services Group Inc. acquired a new stake in Teledyne Technologies in the 4th quarter valued at approximately $46,000. Finally, Tortoise Investment Management LLC raised its position in Teledyne Technologies by 63.2% in the fourth quarter. Tortoise Investment Management LLC now owns 124 shares of the scientific and technical instruments company’s stock valued at $58,000 after purchasing an additional 48 shares during the period. 91.58% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Teledyne Technologies

In other Teledyne Technologies news, COO George C. Bobb III sold 6,308 shares of Teledyne Technologies stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $507.77, for a total transaction of $3,203,013.16. Following the completion of the sale, the chief operating officer now directly owns 10,482 shares of the company’s stock, valued at $5,322,445.14. The trade was a 37.57 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Cynthia Y. Belak sold 5,745 shares of the stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $508.34, for a total value of $2,920,413.30. Following the completion of the transaction, the vice president now 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 three months, insiders sold 34,571 shares of company stock valued at $17,709,721. Insiders own 2.14% of the company’s stock.

Teledyne Technologies Trading Up 1.2 %

TDY opened at $507.63 on Tuesday. The business has a fifty day moving average price of $498.18 and a 200 day moving average price of $472.92. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.33 and a quick ratio of 1.61. Teledyne Technologies Incorporated has a 12 month low of $355.41 and a 12 month high of $522.50. The stock has a market capitalization of $23.78 billion, a price-to-earnings ratio of 29.46, a PEG ratio of 3.14 and a beta of 1.03.

Teledyne Technologies (NYSE:TDY) last released its earnings results 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 net margin of 14.45% and a return on equity of 9.94%. The firm had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.45 billion. During the same period in the prior year, the firm earned $5.44 earnings per share. The business’s quarterly revenue was up 5.4% compared to the same quarter last year. Sell-side analysts expect that Teledyne Technologies Incorporated will post 21.55 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

TDY has been the subject of several research analyst reports. Needham & Company LLC restated a “buy” rating and set a $585.00 price target on shares of Teledyne Technologies in a research report on Wednesday, February 5th. 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 report on Monday, March 17th. Finally, UBS Group started coverage on shares of Teledyne Technologies in a research note on Tuesday, December 10th. They set a “buy” rating and a $585.00 price target on the stock. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $548.00.

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.