FDx Advisors Inc. bought a new position in shares of Teledyne Technologies Incorporated (NYSE:TDY) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 3,307 shares of the scientific and technical instruments company’s stock, valued at approximately $685,000.
A number of other hedge funds have also recently modified their holdings of TDY. Select Equity Group L.P. purchased a new stake in shares of Teledyne Technologies in the 3rd quarter valued at approximately $81,211,000. AQR Capital Management LLC raised its stake in shares of Teledyne Technologies by 107.7% in the 3rd quarter. AQR Capital Management LLC now owns 550,136 shares of the scientific and technical instruments company’s stock valued at $135,708,000 after acquiring an additional 285,208 shares during the period. Wells Fargo & Company MN raised its stake in shares of Teledyne Technologies by 81.1% in the 3rd quarter. Wells Fargo & Company MN now owns 578,648 shares of the scientific and technical instruments company’s stock valued at $142,740,000 after acquiring an additional 259,094 shares during the period. Vanguard Group Inc raised its stake in shares of Teledyne Technologies by 3.3% in the 3rd quarter. Vanguard Group Inc now owns 3,054,919 shares of the scientific and technical instruments company’s stock valued at $753,588,000 after acquiring an additional 96,848 shares during the period. Finally, Prudential Financial Inc. raised its stake in shares of Teledyne Technologies by 108.1% in the 3rd quarter. Prudential Financial Inc. now owns 113,089 shares of the scientific and technical instruments company’s stock valued at $27,896,000 after acquiring an additional 58,749 shares during the period. 83.98% of the stock is currently owned by institutional investors.
Shares of TDY stock traded up $3.67 during trading on Thursday, reaching $237.05. The company’s stock had a trading volume of 131,235 shares, compared to its average volume of 145,902. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.04 and a current ratio of 1.55. The stock has a market capitalization of $8.43 billion, a P/E ratio of 26.69 and a beta of 1.11. Teledyne Technologies Incorporated has a 1-year low of $177.68 and a 1-year high of $250.87.
Teledyne Technologies (NYSE:TDY) last announced its quarterly earnings data on Wednesday, January 23rd. The scientific and technical instruments company reported $2.45 earnings per share for the quarter, beating analysts’ consensus estimates of $2.18 by $0.27. The firm had revenue of $748.40 million during the quarter, compared to analysts’ expectations of $728.04 million. Teledyne Technologies had a net margin of 11.50% and a return on equity of 14.97%. The business’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.82 earnings per share.
In other Teledyne Technologies news, insider Robert Mehrabian sold 8,316 shares of the business’s stock in a transaction that occurred on Tuesday, January 29th. The shares were sold at an average price of $220.00, for a total transaction of $1,829,520.00. Following the completion of the transaction, the insider now owns 191,469 shares in the company, valued at approximately $42,123,180. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Michael T. Smith sold 551 shares of the business’s stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $235.05, for a total transaction of $129,512.55. Following the transaction, the director now owns 36,638 shares of the company’s stock, valued at approximately $8,611,761.90. The disclosure for this sale can be found here. Insiders have sold a total of 41,003 shares of company stock valued at $9,212,822 in the last quarter. 3.19% of the stock is currently owned by company insiders.
TDY has been the topic of a number of research analyst reports. Needham & Company LLC reissued a “buy” rating and issued a $248.00 price target (up from $240.00) on shares of Teledyne Technologies in a research note on Friday, March 15th. Zacks Investment Research downgraded shares of Teledyne Technologies from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 10th.
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About Teledyne Technologies
Teledyne Technologies Incorporated provides instrumentation, digital imaging, aerospace and defense electronics, and engineered systems in the United States, the United Kingdom, Denmark, Canada, France, and the Netherlands. The company’s Instrumentation segment offers monitoring and control instruments for marine, environmental, industrial, and other applications, as well as electronic test and measurement equipment; and power and communications connectivity devices for distributed instrumentation systems and sensor networks deployed in mission critical and harsh environments.
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