Bowen Hanes & Co. Inc. Has $84.88 Million Position in Teledyne Technologies Incorporated (NYSE:TDY)

Bowen Hanes & Co. Inc. lowered its position in Teledyne Technologies Incorporated (NYSE:TDY) by 1.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 182,869 shares of the scientific and technical instruments company’s stock after selling 3,092 shares during the period. Teledyne Technologies comprises about 2.3% of Bowen Hanes & Co. Inc.’s portfolio, making the stock its 10th largest position. Bowen Hanes & Co. Inc. owned about 0.39% of Teledyne Technologies worth $84,875,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in TDY. Brooklyn Investment Group purchased a new position in shares of Teledyne Technologies in the 3rd quarter worth approximately $32,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Teledyne Technologies during the 3rd quarter worth $39,000. Newbridge Financial Services Group Inc. purchased a new position in shares of Teledyne Technologies in the 4th quarter worth about $46,000. Tortoise Investment Management LLC grew its position in Teledyne Technologies by 63.2% during the fourth quarter. Tortoise Investment Management LLC now owns 124 shares of the scientific and technical instruments company’s stock valued at $58,000 after buying an additional 48 shares during the period. Finally, Private Trust Co. NA increased its holdings in Teledyne Technologies by 43.0% during the fourth quarter. Private Trust Co. NA now owns 173 shares of the scientific and technical instruments company’s stock worth $80,000 after buying an additional 52 shares during the last quarter. 91.58% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

TDY has been the topic of a number of research analyst reports. Needham & Company LLC reiterated a “buy” rating and issued a $585.00 target price on shares of Teledyne Technologies in a research note on Wednesday, February 5th. UBS Group began 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 analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $538.00.

Teledyne Technologies Price Performance

Shares of NYSE:TDY opened at $485.44 on Thursday. The company has a 50-day moving average price of $492.11 and a two-hundred day moving average price of $468.69. Teledyne Technologies Incorporated has a twelve month low of $355.41 and a twelve month high of $522.50. The company has a quick ratio of 1.61, a current ratio of 2.33 and a debt-to-equity ratio of 0.28. The firm has a market capitalization of $22.74 billion, a PE ratio of 28.17, a P/E/G ratio of 3.14 and a beta of 1.03.

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

Insider Buying and Selling

In other news, EVP Melanie Susan Cibik sold 706 shares of the business’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $519.96, for a total transaction of $367,091.76. Following the completion of the transaction, the executive vice president now owns 26,529 shares of the company’s stock, valued at approximately $13,794,018.84. The trade was a 2.59 % 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 the SEC website. Also, Chairman Robert Mehrabian sold 5,768 shares of the company’s stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $518.22, for a total transaction of $2,989,092.96. Following the completion of the transaction, the chairman now owns 144,553 shares in the company, valued at approximately $74,910,255.66. This trade represents a 3.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 34,571 shares of company stock worth $17,709,721. Corporate insiders own 2.14% of the company’s stock.

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.