613 Shares in Teledyne Technologies Incorporated (NYSE:TDY) Bought by Harvest Fund Management Co. Ltd

Harvest Fund Management Co. Ltd purchased a new stake in shares of Teledyne Technologies Incorporated (NYSE:TDY) during the fourth quarter, Holdings Channel reports. The fund purchased 613 shares of the scientific and technical instruments company’s stock, valued at approximately $284,000.

Other institutional investors have also bought and sold shares of the company. Brooklyn Investment Group bought a new stake in Teledyne Technologies during the third quarter valued at $32,000. Wilmington Savings Fund Society FSB bought a new stake in Teledyne Technologies during the third quarter valued at $39,000. Newbridge Financial Services Group Inc. bought a new stake in Teledyne Technologies during the fourth quarter valued at $46,000. Tortoise Investment Management LLC boosted 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 acquiring an additional 48 shares during the last quarter. Finally, Private Trust Co. NA boosted its position 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 valued at $80,000 after acquiring an additional 52 shares during the last quarter. Institutional investors own 91.58% of the company’s stock.

Teledyne Technologies Price Performance

TDY stock opened at $502.73 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. Teledyne Technologies Incorporated has a 1 year low of $355.41 and a 1 year high of $522.50. The stock has a market capitalization of $23.55 billion, a PE ratio of 29.18, a price-to-earnings-growth ratio of 3.14 and a beta of 1.03. The company’s 50-day moving average is $497.26 and its 200-day moving average is $471.72.

Teledyne Technologies (NYSE:TDY) last posted its earnings results on Wednesday, January 22nd. The scientific and technical instruments company reported $5.52 earnings per share for the quarter, topping 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 company had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.45 billion. During the same quarter in the prior year, the business posted $5.44 EPS. The firm’s revenue was up 5.4% compared to the same quarter last year. Equities research analysts expect that Teledyne Technologies Incorporated will post 21.55 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on TDY. Bank of America upped their price target on shares of Teledyne Technologies from $550.00 to $600.00 and gave the company a “buy” rating in a research report on Monday, March 17th. Needham & Company LLC reissued a “buy” rating and set a $585.00 price objective on shares of Teledyne Technologies in a research report on Wednesday, February 5th. Finally, 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 on the stock. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $548.00.

Insider Buying and Selling

In related news, EVP Melanie Susan Cibik sold 706 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $519.96, for a total value of $367,091.76. Following the sale, the executive vice president now owns 26,529 shares in the company, valued at $13,794,018.84. This represents a 2.59 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at 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 transaction of $3,203,013.16. Following the completion of the sale, the chief operating officer now owns 10,482 shares in the company, valued at $5,322,445.14. This represents a 37.57 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 34,571 shares of company stock worth $17,709,721 in the last quarter. Insiders own 2.14% of the company’s stock.

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.