Main Street Research LLC Takes Position in Teledyne Technologies Incorporated (NYSE:TDY)

Main Street Research LLC purchased a new stake in shares of Teledyne Technologies Incorporated (NYSE:TDY) during the fourth quarter, Holdings Channel reports. The firm purchased 450 shares of the scientific and technical instruments company’s stock, valued at approximately $201,000.

A number of other large investors have also added to or reduced their stakes in the company. Baird Financial Group Inc. grew its stake in shares of Teledyne Technologies by 2.6% during the fourth quarter. Baird Financial Group Inc. now owns 944 shares of the scientific and technical instruments company’s stock valued at $378,000 after buying an additional 24 shares during the last quarter. Allworth Financial LP grew its stake in shares of Teledyne Technologies by 26.5% during the third quarter. Allworth Financial LP now owns 129 shares of the scientific and technical instruments company’s stock valued at $53,000 after buying an additional 27 shares during the last quarter. Great Lakes Advisors LLC grew its stake in shares of Teledyne Technologies by 5.5% in the third quarter. Great Lakes Advisors LLC now owns 540 shares of the scientific and technical instruments company’s stock worth $221,000 after purchasing an additional 28 shares during the last quarter. First Manhattan Co. grew its stake in shares of Teledyne Technologies by 0.6% in the fourth quarter. First Manhattan Co. now owns 4,466 shares of the scientific and technical instruments company’s stock worth $1,786,000 after purchasing an additional 28 shares during the last quarter. Finally, Silvercrest Asset Management Group LLC grew its stake in shares of Teledyne Technologies by 0.8% in the first quarter. Silvercrest Asset Management Group LLC now owns 3,611 shares of the scientific and technical instruments company’s stock worth $1,615,000 after purchasing an additional 29 shares during the last quarter. Hedge funds and other institutional investors own 91.58% of the company’s stock.

Insider Buying and Selling at Teledyne Technologies

In other Teledyne Technologies news, Director Kenneth C. Dahlberg sold 4,000 shares of Teledyne Technologies stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $432.91, for a total transaction of $1,731,640.00. Following the sale, the director now directly owns 18,735 shares of the company’s stock, valued at approximately $8,110,568.85. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, Director Simon M. Lorne sold 2,200 shares of Teledyne Technologies stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $426.70, for a total transaction of $938,740.00. Following the completion of the transaction, the director now directly owns 67,288 shares in the company, valued at $28,711,789.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kenneth C. Dahlberg sold 4,000 shares of Teledyne Technologies stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $432.91, for a total transaction of $1,731,640.00. Following the transaction, the director now owns 18,735 shares of the company’s stock, valued at $8,110,568.85. The disclosure for this sale can be found here. In the last three months, insiders have sold 6,711 shares of company stock valued at $2,890,621. 1.88% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

TDY has been the topic of several recent analyst reports. Needham & Company LLC cut their target price on Teledyne Technologies from $522.00 to $510.00 and set a “buy” rating on the stock in a research note on Wednesday, January 24th. StockNews.com raised Teledyne Technologies from a “hold” rating to a “buy” rating in a research note on Saturday, February 10th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $515.67.

Teledyne Technologies Stock Performance

Teledyne Technologies stock opened at $401.07 on Wednesday. The stock’s 50 day simple moving average is $423.24 and its two-hundred day simple moving average is $415.25. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.17 and a current ratio of 1.69. The stock has a market cap of $19.00 billion, a price-to-earnings ratio of 21.68, a PEG ratio of 2.57 and a beta of 1.02. Teledyne Technologies Incorporated has a fifty-two week low of $364.98 and a fifty-two week high of $448.19.

Teledyne Technologies (NYSE:TDY) last posted its quarterly earnings data on Wednesday, January 24th. The scientific and technical instruments company reported $5.44 earnings per share for the quarter, beating the consensus estimate of $5.04 by $0.40. The business had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.46 billion. Teledyne Technologies had a return on equity of 10.81% and a net margin of 15.72%. The business’s revenue was up .5% on a year-over-year basis. During the same period in the previous year, the firm posted $4.94 EPS. As a group, analysts expect that Teledyne Technologies Incorporated will post 20.56 earnings per share for the current fiscal year.

Teledyne Technologies Company 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.