Harvest Fund Management Co. Ltd Buys New Shares in Teledyne Technologies Incorporated (NYSE:TDY)

Harvest Fund Management Co. Ltd bought a new stake in Teledyne Technologies Incorporated (NYSE:TDY) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 613 shares of the scientific and technical instruments company’s stock, valued at approximately $284,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of TDY. Madison Investment Advisors LLC bought a new position in Teledyne Technologies during the fourth quarter worth about $94,721,000. Raymond James Financial Inc. bought a new position in Teledyne Technologies during the fourth quarter worth about $53,304,000. JPMorgan Chase & Co. grew its holdings in Teledyne Technologies by 6.0% during the third quarter. JPMorgan Chase & Co. now owns 1,150,065 shares of the scientific and technical instruments company’s stock worth $503,338,000 after purchasing an additional 64,617 shares during the period. Diamond Hill Capital Management Inc. bought a new stake in shares of Teledyne Technologies during the fourth quarter worth approximately $29,348,000. Finally, Proficio Capital Partners LLC bought a new stake in shares of Teledyne Technologies during the fourth quarter worth approximately $29,081,000. Institutional investors own 91.58% of the company’s stock.

Teledyne Technologies Stock Up 0.7 %

Shares of TDY opened at $502.73 on Friday. Teledyne Technologies Incorporated has a one year low of $355.41 and a one year high of $522.50. The company has a market cap of $23.55 billion, a P/E ratio of 29.18, a P/E/G ratio of 3.14 and a beta of 1.03. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.33 and a quick ratio of 1.61. The firm has a 50 day simple moving average of $497.26 and a two-hundred day simple moving average of $471.72.

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. The company had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.45 billion. Teledyne Technologies had a net margin of 14.45% and a return on equity of 9.94%. The company’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same period in the prior year, the business earned $5.44 earnings per share. Research analysts forecast that Teledyne Technologies Incorporated will post 21.55 EPS for the current fiscal year.

Insider Transactions at Teledyne Technologies

In related news, VP Cynthia Y. Belak sold 5,745 shares of the business’s stock in a transaction on 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 sale, the vice president now owns 4,962 shares of the company’s stock, valued at $2,522,383.08. The trade was a 53.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO George C. Bobb III sold 6,308 shares of the business’s stock in a transaction on 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 in the company, valued at approximately $5,322,445.14. This represents a 37.57 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 34,571 shares of company stock worth $17,709,721. Corporate insiders own 2.14% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on TDY. UBS Group began coverage on Teledyne Technologies in a report on Tuesday, December 10th. They set a “buy” rating and a $585.00 price objective for the company. 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 report on Monday, March 17th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $585.00 price target on shares of Teledyne Technologies in a research report on Wednesday, February 5th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target 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.