Cairn Investment Group Inc. Takes Position in Teledyne Technologies Incorporated (NYSE:TDY)

Cairn Investment Group Inc. bought a new stake in shares of Teledyne Technologies Incorporated (NYSE:TDY) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 446 shares of the scientific and technical instruments company’s stock, valued at approximately $207,000.

Several other hedge funds have also recently made changes to their positions in TDY. Metis Global Partners LLC boosted its holdings in Teledyne Technologies by 1.6% in the third quarter. Metis Global Partners LLC now owns 1,514 shares of the scientific and technical instruments company’s stock worth $663,000 after acquiring an additional 24 shares in the last quarter. Crumly & Associates Inc. boosted its holdings in Teledyne Technologies by 3.8% in the third quarter. Crumly & Associates Inc. now owns 677 shares of the scientific and technical instruments company’s stock worth $296,000 after acquiring an additional 25 shares in the last quarter. Raymond James Trust N.A. boosted its holdings in 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 worth $241,000 after acquiring an additional 25 shares in the last quarter. Bleakley Financial Group LLC boosted its holdings in Teledyne Technologies by 4.0% in the third quarter. Bleakley Financial Group LLC now owns 681 shares of the scientific and technical instruments company’s stock worth $298,000 after acquiring an additional 26 shares in the last quarter. Finally, Frank Rimerman Advisors LLC boosted its holdings in Teledyne Technologies by 4.8% in the third quarter. Frank Rimerman Advisors LLC now owns 781 shares of the scientific and technical instruments company’s stock worth $342,000 after acquiring an additional 36 shares in the last quarter. 91.58% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. UBS Group assumed coverage on Teledyne Technologies in a report on Tuesday, December 10th. They set a “buy” rating and a $585.00 price target on the stock. Needham & Company LLC upped their price target on Teledyne Technologies from $528.00 to $550.00 and gave the company a “buy” rating in a report on Monday, November 11th. Bank of America raised Teledyne Technologies from a “neutral” rating to a “buy” rating and upped their price target for the company from $450.00 to $550.00 in a report on Friday, November 8th. TD Cowen upped their price target on Teledyne Technologies from $450.00 to $500.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Finally, StockNews.com raised Teledyne Technologies from a “hold” rating to a “buy” rating in a report on Wednesday, October 2nd. 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 a consensus target price of $531.00.

Insiders Place Their Bets

In other news, EVP Melanie Susan Cibik sold 2,538 shares of Teledyne Technologies stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $513.02, for a total transaction of $1,302,044.76. Following the transaction, the executive vice president now directly owns 32,100 shares of the company’s stock, valued at $16,467,942. The trade was a 7.33 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Cynthia Y. Belak sold 5,745 shares of Teledyne Technologies stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $508.34, for a total value of $2,920,413.30. Following the transaction, the vice president now directly owns 4,962 shares in the company, valued at approximately $2,522,383.08. The trade was a 53.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 72,915 shares of company stock worth $35,954,556 over the last quarter. 2.14% of the stock is currently owned by corporate insiders.

Teledyne Technologies Stock Down 0.1 %

TDY stock opened at $508.81 on Thursday. Teledyne Technologies Incorporated has a fifty-two week low of $355.41 and a fifty-two week high of $518.85. The business’s 50-day moving average is $476.25 and its two-hundred day moving average is $449.79. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.35 and a current ratio of 2.33. The company has a market cap of $23.71 billion, a price-to-earnings ratio of 29.53, a P/E/G ratio of 3.24 and a beta of 1.01.

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, beating analysts’ consensus estimates of $5.23 by $0.29. Teledyne Technologies had a return on equity of 9.94% and a net margin of 14.45%. The company had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.45 billion. During the same quarter in the prior year, the company earned $5.44 earnings per share. Teledyne Technologies’s revenue was up 5.4% on a year-over-year basis. As a group, analysts forecast that Teledyne Technologies Incorporated will post 21.3 earnings per share for the current 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.