24,840 Shares in Teledyne Technologies Incorporated (NYSE:TDY) Acquired by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS purchased a new stake in shares of Teledyne Technologies Incorporated (NYSE:TDY) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 24,840 shares of the scientific and technical instruments company’s stock, valued at approximately $11,529,000.

A number of other hedge funds also recently modified their holdings of the business. Brooklyn Investment Group bought a new position in Teledyne Technologies during the 3rd quarter worth $32,000. Wilmington Savings Fund Society FSB bought a new position in shares of Teledyne Technologies during the third quarter worth about $39,000. Millstone Evans Group LLC bought a new position in shares of Teledyne Technologies during the fourth quarter worth about $42,000. Newbridge Financial Services Group Inc. acquired a new position in shares of Teledyne Technologies in the fourth quarter worth approximately $46,000. Finally, Tortoise Investment Management LLC boosted its holdings 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 acquiring an additional 48 shares during the last quarter. Institutional investors and hedge funds own 91.58% of the company’s stock.

Teledyne Technologies Price Performance

TDY stock opened at $507.63 on Tuesday. The company has a market capitalization of $23.78 billion, a P/E ratio of 29.46, a price-to-earnings-growth ratio of 3.14 and a beta of 1.03. Teledyne Technologies Incorporated has a 52-week low of $355.41 and a 52-week high of $522.50. The business has a 50-day simple moving average of $498.18 and a two-hundred day simple moving average of $472.92. 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 announced its quarterly earnings results on Wednesday, January 22nd. The scientific and technical instruments company reported $5.52 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $1.45 billion. During the same quarter in the prior year, the company posted $5.44 earnings per share. Teledyne Technologies’s revenue was up 5.4% compared to the same quarter last year. Research analysts expect that Teledyne Technologies Incorporated will post 21.55 EPS for the current fiscal year.

Analyst Ratings Changes

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

Insider Activity

In other Teledyne Technologies news, 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 sale, the vice president now owns 4,962 shares in the company, valued at approximately $2,522,383.08. This trade represents a 53.66 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO George C. Bobb III sold 6,308 shares of the business’s stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $507.77, for a total value of $3,203,013.16. Following the completion of the transaction, the chief operating officer now owns 10,482 shares in the company, valued at $5,322,445.14. The trade was a 37.57 % 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 over the last quarter. Insiders own 2.14% of the company’s stock.

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.