EverSource Wealth Advisors LLC Raises Stock Position in Teledyne Technologies Incorporated (NYSE:TDY)

EverSource Wealth Advisors LLC raised its stake in shares of Teledyne Technologies Incorporated (NYSE:TDY) by 6.8% during the 4th quarter, HoldingsChannel.com reports. The firm owned 721 shares of the scientific and technical instruments company’s stock after acquiring an additional 46 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in Teledyne Technologies were worth $335,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of TDY. Stratos Wealth Partners LTD. lifted its stake in Teledyne Technologies by 4.4% in the 4th quarter. Stratos Wealth Partners LTD. now owns 500 shares of the scientific and technical instruments company’s stock valued at $232,000 after buying an additional 21 shares in the last quarter. Metis Global Partners LLC raised its holdings in shares of Teledyne Technologies by 1.6% during the third quarter. Metis Global Partners LLC now owns 1,514 shares of the scientific and technical instruments company’s stock valued at $663,000 after acquiring an additional 24 shares during the last quarter. Raymond James Trust N.A. lifted its position in shares of Teledyne Technologies by 4.8% in the third quarter. Raymond James Trust N.A. now owns 550 shares of the scientific and technical instruments company’s stock valued at $241,000 after acquiring an additional 25 shares in the last quarter. New York Life Investment Management LLC boosted its stake in shares of Teledyne Technologies by 0.4% in the fourth quarter. New York Life Investment Management LLC now owns 6,214 shares of the scientific and technical instruments company’s stock worth $2,884,000 after acquiring an additional 25 shares during the last quarter. Finally, Allworth Financial LP increased its position in shares of Teledyne Technologies by 15.1% during the fourth quarter. Allworth Financial LP now owns 206 shares of the scientific and technical instruments company’s stock worth $105,000 after purchasing an additional 27 shares in the last quarter. Institutional investors and hedge funds own 91.58% of the company’s stock.

Insider Activity

In other news, EVP Melanie Susan Cibik sold 706 shares of the company’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $519.96, for a total value of $367,091.76. Following the transaction, the executive vice president now owns 26,529 shares of the company’s stock, valued at $13,794,018.84. This represents a 2.59 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman Robert Mehrabian sold 5,768 shares of the firm’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $518.22, for a total value of $2,989,092.96. Following the sale, the chairman now directly owns 144,553 shares of the company’s stock, valued at $74,910,255.66. The trade was a 3.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 34,571 shares of company stock valued at $17,709,721 in the last 90 days. Company insiders own 2.14% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on TDY. UBS Group began coverage on Teledyne Technologies in a report on Tuesday, December 10th. They issued a “buy” rating and a $585.00 price objective on the stock. Needham & Company LLC reissued a “buy” rating and issued a $585.00 price target on shares of Teledyne Technologies in a research note on Wednesday, February 5th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, Teledyne Technologies currently has an average rating of “Buy” and a consensus price target of $538.00.

Teledyne Technologies Stock Performance

NYSE TDY opened at $491.72 on Friday. Teledyne Technologies Incorporated has a fifty-two week low of $355.41 and a fifty-two week high of $522.50. The firm has a market capitalization of $23.03 billion, a P/E ratio of 28.54, a price-to-earnings-growth ratio of 3.14 and a beta of 1.03. The stock’s fifty day moving average is $493.19 and its two-hundred day moving average is $469.56. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.61 and a current ratio of 2.33.

Teledyne Technologies (NYSE:TDY) last announced 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. Teledyne Technologies had a net margin of 14.45% and a return on equity of 9.94%. The firm had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.45 billion. During the same quarter in the prior year, the firm posted $5.44 earnings per share. Teledyne Technologies’s quarterly revenue was up 5.4% on a year-over-year basis. On average, research analysts anticipate that Teledyne Technologies Incorporated will post 21.55 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.