Linscomb Wealth Inc. Grows Stake in Teledyne Technologies Incorporated (NYSE:TDY)

Linscomb Wealth Inc. increased its holdings in Teledyne Technologies Incorporated (NYSE:TDY) by 14.1% in the fourth quarter, HoldingsChannel.com reports. The fund owned 793 shares of the scientific and technical instruments company’s stock after acquiring an additional 98 shares during the period. Linscomb Wealth Inc.’s holdings in Teledyne Technologies were worth $368,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Versor Investments LP bought a new position in Teledyne Technologies in the fourth quarter worth $836,000. Proficio Capital Partners LLC bought a new stake in Teledyne Technologies during the fourth quarter worth about $29,081,000. Mn Services Vermogensbeheer B.V. grew its holdings in Teledyne Technologies by 1.7% in the fourth quarter. Mn Services Vermogensbeheer B.V. now owns 18,400 shares of the scientific and technical instruments company’s stock worth $8,540,000 after purchasing an additional 300 shares during the period. New York Life Investment Management LLC lifted its holdings in shares of Teledyne Technologies by 0.4% during the fourth 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 purchasing an additional 25 shares during the last quarter. Finally, Walter Public Investments Inc. grew its stake in shares of Teledyne Technologies by 35.6% in the 4th quarter. Walter Public Investments Inc. now owns 25,183 shares of the scientific and technical instruments company’s stock worth $11,688,000 after buying an additional 6,611 shares during the last quarter. Institutional investors own 91.58% of the company’s stock.

Teledyne Technologies Trading Up 2.9 %

Shares of TDY stock opened at $515.60 on Friday. 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 company has a market cap of $24.15 billion, a price-to-earnings ratio of 29.92, a PEG ratio of 3.14 and a beta of 1.03. Teledyne Technologies Incorporated has a 1 year low of $355.41 and a 1 year high of $522.50. The firm has a fifty day moving average price of $487.79 and a 200-day moving average price of $463.40.

Teledyne Technologies (NYSE:TDY) last posted its quarterly earnings data on Wednesday, January 22nd. The scientific and technical instruments company reported $5.52 earnings per share for the quarter, beating analysts’ consensus estimates of $5.23 by $0.29. The firm had revenue of $1.50 billion for the quarter, compared to analysts’ expectations of $1.45 billion. Teledyne Technologies had a return on equity of 9.94% and a net margin of 14.45%. The business’s quarterly revenue was up 5.4% on a year-over-year basis. During the same period in the previous year, the firm earned $5.44 EPS. As a group, equities analysts predict that Teledyne Technologies Incorporated will post 21.55 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on TDY shares. Bank of America raised Teledyne Technologies from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $450.00 to $550.00 in a report on Friday, November 8th. Needham & Company LLC reissued a “buy” rating and set a $585.00 price target on shares of Teledyne Technologies in a research report on Wednesday, February 5th. Finally, UBS Group assumed coverage on Teledyne Technologies in a research report on Tuesday, December 10th. They issued a “buy” rating and a $585.00 price objective on the stock. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, Teledyne Technologies has a consensus rating of “Buy” and an average price target of $538.00.

Insider Activity

In other Teledyne Technologies news, Chairman Robert Mehrabian sold 5,768 shares of the stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $518.22, for a total transaction of $2,989,092.96. Following the completion of the sale, the chairman now directly owns 144,553 shares of the company’s stock, valued at $74,910,255.66. This trade represents a 3.84 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Michael T. Smith sold 2,025 shares of the business’s stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $478.25, for a total transaction of $968,456.25. Following the completion of the transaction, the director now directly owns 54,935 shares in the company, valued at $26,272,663.75. This trade represents a 3.56 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 32,190 shares of company stock worth $16,386,864 over the last ninety days. Corporate insiders own 1.88% of the company’s stock.

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.