Shell Asset Management Co. Buys 913 Shares of Teledyne Technologies Incorporated (NYSE:TDY)

Shell Asset Management Co. raised its stake in shares of Teledyne Technologies Incorporated (NYSE:TDY) by 250.1% in the 4th quarter, Holdings Channel reports. The firm owned 1,278 shares of the scientific and technical instruments company’s stock after acquiring an additional 913 shares during the period. Shell Asset Management Co.’s holdings in Teledyne Technologies were worth $593,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Stratos Wealth Partners LTD. raised its position in shares of Teledyne Technologies by 4.4% during the 4th quarter. Stratos Wealth Partners LTD. now owns 500 shares of the scientific and technical instruments company’s stock valued at $232,000 after buying an additional 21 shares in the last quarter. Ironwood Investment Management LLC raised its position in shares of Teledyne Technologies by 0.8% during the 4th quarter. Ironwood Investment Management LLC now owns 2,876 shares of the scientific and technical instruments company’s stock valued at $1,335,000 after buying an additional 22 shares in the last quarter. Keel Point LLC raised its position in shares of Teledyne Technologies by 4.5% during the 4th quarter. Keel Point LLC now owns 532 shares of the scientific and technical instruments company’s stock valued at $247,000 after buying an additional 23 shares in the last quarter. New York Life Investment Management LLC raised its position in shares of Teledyne Technologies by 0.4% during the 4th quarter. New York Life Investment Management LLC now owns 6,214 shares of the scientific and technical instruments company’s stock valued at $2,884,000 after buying an additional 25 shares in the last quarter. Finally, Allworth Financial LP raised its position in shares of Teledyne Technologies by 15.1% during the 4th quarter. Allworth Financial LP now owns 206 shares of the scientific and technical instruments company’s stock valued at $105,000 after buying an additional 27 shares in the last quarter. Institutional investors own 91.58% of the company’s stock.

Teledyne Technologies Stock Performance

Teledyne Technologies stock opened at $498.67 on Monday. 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 1-year low of $380.63 and a 1-year high of $522.50. The firm has a market capitalization of $23.37 billion, a P/E ratio of 28.94, a price-to-earnings-growth ratio of 3.14 and a beta of 1.06. The company’s 50-day moving average is $477.51 and its 200 day moving average is $481.36.

Teledyne Technologies (NYSE:TDY) last issued its earnings results on Wednesday, April 23rd. The scientific and technical instruments company reported $4.95 EPS for the quarter, topping analysts’ consensus estimates of $4.92 by $0.03. The business had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.44 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 7.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $4.55 EPS. Research analysts forecast that Teledyne Technologies Incorporated will post 21.55 EPS for the current year.

Insiders Place Their Bets

In other Teledyne Technologies news, EVP Melanie Susan Cibik sold 706 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $519.96, for a total value of $367,091.76. Following the transaction, the executive vice president now directly owns 26,529 shares in the company, valued at $13,794,018.84. This represents a 2.59% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Vice Chairman Jason Vanwees sold 3,700 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $520.06, for a total transaction of $1,924,222.00. Following the transaction, the insider now owns 51,324 shares in the company, valued at approximately $26,691,559.44. This represents a 6.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.50% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on TDY. TD Securities restated a “buy” rating and set a $550.00 target price on shares of Teledyne Technologies in a research report on Thursday, April 24th. Bank of America upped their target price 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. Needham & Company LLC reduced their price objective on shares of Teledyne Technologies from $585.00 to $550.00 and set a “buy” rating on the stock in a research report on Thursday, April 24th. Finally, StockNews.com raised shares of Teledyne Technologies from a “hold” rating to a “buy” rating in a research report on Friday, May 9th. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $542.50.

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.