Piedmont Investment Advisors Inc. bought a new stake in Teledyne Technologies Incorporated (NYSE:TDY) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 981 shares of the scientific and technical instruments company’s stock, valued at approximately $233,000.
A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Penserra Capital Management LLC bought a new position in shares of Teledyne Technologies during the 4th quarter valued at about $36,000. O Shaughnessy Asset Management LLC grew its holdings in Teledyne Technologies by 32.9% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 218 shares of the scientific and technical instruments company’s stock valued at $45,000 after purchasing an additional 54 shares during the last quarter. Nikko Asset Management Americas Inc. grew its holdings in Teledyne Technologies by 205.4% during the fourth quarter. Nikko Asset Management Americas Inc. now owns 281 shares of the scientific and technical instruments company’s stock valued at $58,000 after purchasing an additional 189 shares during the last quarter. Riverview Trust Co acquired a new position in Teledyne Technologies during the fourth quarter valued at approximately $86,000. Finally, Lee Danner & Bass Inc. acquired a new position in Teledyne Technologies during the first quarter valued at approximately $201,000. Hedge funds and other institutional investors own 84.42% of the company’s stock.
Shares of NYSE:TDY traded up $6.22 during trading on Friday, hitting $273.87. 353,257 shares of the company’s stock traded hands, compared to its average volume of 176,863. Teledyne Technologies Incorporated has a 52 week low of $189.35 and a 52 week high of $273.87. The company has a current ratio of 1.54, a quick ratio of 1.00 and a debt-to-equity ratio of 0.31. The firm has a market cap of $9.62 billion, a P/E ratio of 30.84, a price-to-earnings-growth ratio of 3.70 and a beta of 1.09. The firm has a 50-day simple moving average of $248.78.
In related news, VP Melanie Susan Cibik sold 1,217 shares of the business’s stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $252.00, for a total transaction of $306,684.00. Following the transaction, the vice president now directly owns 25,581 shares of the company’s stock, valued at approximately $6,446,412. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Sue Main sold 12,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $250.82, for a total value of $3,009,840.00. Following the transaction, the chief financial officer now directly owns 48,418 shares in the company, valued at $12,144,202.76. The disclosure for this sale can be found here. In the last quarter, insiders have sold 54,730 shares of company stock worth $13,920,845. Company insiders own 3.19% of the company’s stock.
Several brokerages recently commented on TDY. Zacks Investment Research raised Teledyne Technologies from a “hold” rating to a “buy” rating and set a $257.00 target price for the company in a research report on Tuesday, March 26th. Needham & Company LLC reaffirmed a “buy” rating and issued a $248.00 price target (up from $240.00) on shares of Teledyne Technologies in a report on Friday, March 15th. Berenberg Bank assumed coverage on Teledyne Technologies in a research report on Tuesday, June 11th. They issued a “buy” rating and a $290.00 price objective for the company. Finally, Cowen assumed coverage on Teledyne Technologies in a research report on Tuesday, April 2nd. They issued an “outperform” rating and a $265.00 price objective for the company. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Teledyne Technologies presently has an average rating of “Buy” and a consensus price target of $256.40.
Teledyne Technologies Company Profile
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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