Raymond James Financial Inc. Invests $53.30 Million in Teledyne Technologies Incorporated (NYSE:TDY)

Raymond James Financial Inc. bought a new position in Teledyne Technologies Incorporated (NYSE:TDY) during the 4th quarter, Holdings Channel reports. The fund bought 114,847 shares of the scientific and technical instruments company’s stock, valued at approximately $53,304,000.

Other large investors also recently modified their holdings of the company. Brooklyn Investment Group bought a new stake in shares of Teledyne Technologies in the third quarter worth about $32,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Teledyne Technologies in the third quarter worth about $39,000. Newbridge Financial Services Group Inc. bought a new stake in shares of Teledyne Technologies in the fourth quarter worth about $46,000. Private Trust Co. NA grew its stake in shares of Teledyne Technologies by 43.0% in the fourth quarter. Private Trust Co. NA now owns 173 shares of the scientific and technical instruments company’s stock worth $80,000 after purchasing an additional 52 shares during the last quarter. Finally, Jones Financial Companies Lllp grew its stake in shares of Teledyne Technologies by 31.6% in the fourth quarter. Jones Financial Companies Lllp now owns 200 shares of the scientific and technical instruments company’s stock worth $93,000 after purchasing an additional 48 shares during the last quarter. 91.58% of the stock is owned by institutional investors.

Teledyne Technologies Stock Performance

Teledyne Technologies stock opened at $489.12 on Wednesday. The stock’s 50 day simple moving average is $491.68 and its two-hundred day simple moving average is $468.57. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.61 and a current ratio of 2.33. The stock has a market cap of $22.91 billion, a price-to-earnings ratio of 28.39, a PEG ratio of 3.14 and a beta of 1.03. Teledyne Technologies Incorporated has a fifty-two week low of $355.41 and a fifty-two week high of $522.50.

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 the consensus estimate of $5.23 by $0.29. The business 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 revenue was up 5.4% on a year-over-year basis. During the same period in the previous year, the firm posted $5.44 EPS. As a group, analysts expect that Teledyne Technologies Incorporated will post 21.55 earnings per share for the current fiscal year.

Insider Transactions at Teledyne Technologies

In other news, EVP Melanie Susan Cibik sold 706 shares of the business’s stock in a transaction that occurred 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 sale, the executive vice president now directly owns 26,529 shares of the company’s stock, valued at $13,794,018.84. The trade was a 2.59 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Cynthia Y. Belak sold 5,745 shares of the business’s stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $508.34, for a total value of $2,920,413.30. Following the completion of the sale, the vice president now directly owns 4,962 shares in the company, valued at approximately $2,522,383.08. This represents a 53.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 36,596 shares of company stock valued at $18,678,177 in the last ninety days. 2.14% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research firms recently issued reports on TDY. UBS Group began coverage on Teledyne Technologies in a research note on Tuesday, December 10th. They issued a “buy” rating and a $585.00 target price on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $585.00 price objective on shares of Teledyne Technologies in a research report on Wednesday, February 5th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Teledyne Technologies presently has a consensus rating of “Buy” and an average target price of $538.00.

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.