EP Wealth Advisors LLC Takes $241,000 Position in Teledyne Technologies Incorporated (NYSE:TDY)

EP Wealth Advisors LLC bought a new position in shares of Teledyne Technologies Incorporated (NYSE:TDY) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 551 shares of the scientific and technical instruments company’s stock, valued at approximately $241,000.

A number of other hedge funds have also added to or reduced their stakes in TDY. Wolff Wiese Magana LLC acquired a new position in shares of Teledyne Technologies during the 3rd quarter worth about $27,000. American National Bank bought a new stake in Teledyne Technologies during the second quarter worth about $28,000. Brooklyn Investment Group bought a new position in Teledyne Technologies in the third quarter valued at approximately $32,000. Innealta Capital LLC acquired a new position in shares of Teledyne Technologies during the 2nd quarter worth approximately $28,000. Finally, Tortoise Investment Management LLC raised its stake in shares of Teledyne Technologies by 48.0% during the 2nd quarter. Tortoise Investment Management LLC now owns 74 shares of the scientific and technical instruments company’s stock worth $29,000 after purchasing an additional 24 shares in the last quarter. Institutional investors own 91.58% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. TD Cowen raised their target price on shares of Teledyne Technologies from $450.00 to $500.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. StockNews.com upgraded shares of Teledyne Technologies from a “hold” rating to a “buy” rating in a research note on Wednesday, October 2nd. Needham & Company LLC upped their target price on shares of Teledyne Technologies from $528.00 to $550.00 and gave the company a “buy” rating in a report on Monday, November 11th. Bank of America upgraded Teledyne Technologies from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $450.00 to $550.00 in a report on Friday, November 8th. Finally, UBS Group assumed coverage on Teledyne Technologies in a research note on Tuesday, December 10th. They issued a “buy” rating and a $585.00 price objective on the stock. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Teledyne Technologies has an average rating of “Buy” and an average price target of $531.00.

Insiders Place Their Bets

In other news, Director Michael T. Smith sold 2,025 shares of the firm’s stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $478.25, for a total transaction of $968,456.25. Following the transaction, the director now directly owns 54,935 shares of the company’s stock, valued at approximately $26,272,663.75. This trade represents a 3.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Robert Mehrabian sold 46,075 shares of Teledyne Technologies stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $487.33, for a total transaction of $22,453,729.75. Following the completion of the sale, the chairman now owns 171,802 shares of the company’s stock, valued at approximately $83,724,268.66. The trade was a 21.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 52,025 shares of company stock worth $25,347,399 in the last 90 days. Company insiders own 2.14% of the company’s stock.

Teledyne Technologies Stock Performance

Shares of TDY stock opened at $475.05 on Friday. The company has a market capitalization of $22.14 billion, a price-to-earnings ratio of 24.02, a PEG ratio of 3.29 and a beta of 1.01. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.35 and a current ratio of 2.00. Teledyne Technologies Incorporated has a 52 week low of $355.41 and a 52 week high of $492.00. The company has a 50-day simple moving average of $467.79 and a 200 day simple moving average of $429.94.

Teledyne Technologies (NYSE:TDY) last posted its earnings results on Wednesday, October 23rd. The scientific and technical instruments company reported $5.10 EPS for the quarter, beating the consensus estimate of $4.97 by $0.13. The company had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.42 billion. Teledyne Technologies had a return on equity of 10.02% and a net margin of 16.88%. The firm’s revenue for the quarter was up 2.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $5.05 earnings per share. On average, sell-side analysts predict that Teledyne Technologies Incorporated will post 19.45 earnings per share for the current 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.