Madison Investment Advisors LLC Makes New $94.72 Million Investment in Teledyne Technologies Incorporated (NYSE:TDY)

Madison Investment Advisors LLC acquired a new stake in Teledyne Technologies Incorporated (NYSE:TDY) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 204,082 shares of the scientific and technical instruments company’s stock, valued at approximately $94,721,000. Madison Investment Advisors LLC owned about 0.44% of Teledyne Technologies at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Brooklyn Investment Group acquired a new position in shares of Teledyne Technologies during the 3rd quarter valued at about $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. acquired a new position in Teledyne Technologies in the 4th quarter valued at $46,000. Tortoise Investment Management LLC raised its holdings in Teledyne Technologies by 63.2% in the 4th quarter. Tortoise Investment Management LLC now owns 124 shares of the scientific and technical instruments company’s stock worth $58,000 after acquiring an additional 48 shares during the period. Finally, Private Trust Co. NA lifted its position in Teledyne Technologies by 43.0% during the 4th quarter. Private Trust Co. NA now owns 173 shares of the scientific and technical instruments company’s stock worth $80,000 after acquiring an additional 52 shares during the last quarter. 91.58% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on TDY. Needham & Company LLC reiterated a “buy” rating and set a $585.00 price target on shares of Teledyne Technologies in a report on Wednesday, February 5th. UBS Group began coverage on shares of Teledyne Technologies in a research report on Tuesday, December 10th. They set a “buy” rating and a $585.00 price objective for the company. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $538.00.

Insider Transactions at Teledyne Technologies

In related news, Chairman Robert Mehrabian sold 5,768 shares of the company’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $518.22, for a total value of $2,989,092.96. Following the completion of the transaction, the chairman now directly owns 144,553 shares of the company’s stock, valued at approximately $74,910,255.66. This represents a 3.84 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO George C. Bobb III sold 6,308 shares of the company’s stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $507.77, for a total value of $3,203,013.16. Following the transaction, the chief operating officer now directly owns 10,482 shares of the company’s stock, valued at $5,322,445.14. This represents a 37.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, 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 Stock Down 0.6 %

Shares of NYSE:TDY opened at $485.44 on Thursday. Teledyne Technologies Incorporated has a 52 week low of $355.41 and a 52 week high of $522.50. The company 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. The company’s fifty day moving average is $492.11 and its 200-day moving average is $468.69. 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 earnings results on Wednesday, January 22nd. The scientific and technical instruments company reported $5.52 EPS for the quarter, topping the consensus estimate of $5.23 by $0.29. The business had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.45 billion. Teledyne Technologies had a return on equity of 9.94% and a net margin of 14.45%. Teledyne Technologies’s revenue was up 5.4% compared to the same quarter last year. During the same period in the previous year, the business earned $5.44 EPS. Equities research analysts predict that Teledyne Technologies Incorporated will post 21.55 earnings per share for the current fiscal year.

About Teledyne Technologies

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.