Bryce Point Capital LLC Buys New Stake in Teledyne Technologies Incorporated (NYSE:TDY)

Bryce Point Capital LLC purchased a new stake in shares of Teledyne Technologies Incorporated (NYSE:TDY) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 1,078 shares of the scientific and technical instruments company’s stock, valued at approximately $500,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TDY. Wilmington Savings Fund Society FSB acquired a new stake in shares of Teledyne Technologies during the 3rd quarter valued at about $39,000. Millstone Evans Group LLC purchased a new position in Teledyne Technologies during the fourth quarter worth approximately $42,000. Newbridge Financial Services Group Inc. purchased a new position in Teledyne Technologies during the fourth quarter worth approximately $46,000. Tortoise Investment Management LLC increased its position in shares of 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 buying an additional 48 shares in the last quarter. Finally, Private Trust Co. NA raised its stake in shares of Teledyne Technologies by 43.0% during the 4th quarter. Private Trust Co. NA now owns 173 shares of the scientific and technical instruments company’s stock worth $80,000 after buying an additional 52 shares during the period. Hedge funds and other institutional investors own 91.58% of the company’s stock.

Teledyne Technologies Stock Performance

TDY opened at $471.65 on Friday. The firm has a market capitalization of $22.09 billion, a PE ratio of 27.37, a PEG ratio of 3.14 and a beta of 1.03. The company has a current ratio of 2.33, a quick ratio of 1.61 and a debt-to-equity ratio of 0.28. Teledyne Technologies Incorporated has a twelve month low of $355.41 and a twelve month high of $522.50. The firm’s 50-day moving average price is $500.78 and its 200 day moving average price is $476.33.

Teledyne Technologies (NYSE:TDY) last posted its quarterly earnings results on Wednesday, January 22nd. The scientific and technical instruments company reported $5.52 EPS for the quarter, beating the consensus estimate of $5.23 by $0.29. The firm had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.45 billion. Teledyne Technologies had a return on equity of 9.94% and a net margin of 14.45%. The business’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same quarter last year, the firm earned $5.44 earnings per share. As a group, sell-side analysts expect that Teledyne Technologies Incorporated will post 21.55 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Bank of America lifted their price target on shares of Teledyne Technologies from $550.00 to $600.00 and gave the company a “buy” rating in a research note on Monday, March 17th. Needham & Company LLC reissued a “buy” rating and set a $585.00 target price on shares of Teledyne Technologies in a research note on Wednesday, February 5th. StockNews.com downgraded shares of Teledyne Technologies from a “buy” rating to a “hold” rating in a research report on Wednesday. Finally, UBS Group started coverage on Teledyne Technologies in a report on Tuesday, December 10th. They issued a “buy” rating and a $585.00 price objective on the stock. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, Teledyne Technologies currently has an average rating of “Moderate Buy” and a consensus target price of $548.00.

Insider Transactions at Teledyne Technologies

In other news, VP Cynthia Y. Belak sold 5,745 shares of the company’s stock in a transaction on Friday, January 24th. The stock was sold at an average price of $508.34, for a total value of $2,920,413.30. Following the transaction, the vice president now owns 4,962 shares of the company’s stock, valued at $2,522,383.08. This represents a 53.66 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Vice Chairman Jason Vanwees sold 3,700 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $520.06, for a total value of $1,924,222.00. Following the sale, the insider now directly owns 51,324 shares of the company’s stock, valued at $26,691,559.44. The trade was a 6.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 34,571 shares of company stock worth $17,709,721 in the last quarter. Company insiders own 1.50% of the company’s stock.

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.