Tortoise Investment Management LLC Has $58,000 Position in Teledyne Technologies Incorporated (NYSE:TDY)

Tortoise Investment Management LLC grew its holdings in Teledyne Technologies Incorporated (NYSE:TDY) by 63.2% during the fourth quarter, Holdings Channel reports. The firm owned 124 shares of the scientific and technical instruments company’s stock after acquiring an additional 48 shares during the quarter. Tortoise Investment Management LLC’s holdings in Teledyne Technologies were worth $58,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in TDY. Brooklyn Investment Group acquired a new stake in Teledyne Technologies in the third quarter worth $32,000. Wilmington Savings Fund Society FSB bought a new position in shares of Teledyne Technologies during the 3rd quarter worth about $39,000. Newbridge Financial Services Group Inc. acquired a new stake in shares of Teledyne Technologies in the 4th quarter valued at about $46,000. Private Trust Co. NA increased its position in Teledyne Technologies by 43.0% in the 4th quarter. Private Trust Co. NA now owns 173 shares of the scientific and technical instruments company’s stock valued at $80,000 after buying an additional 52 shares in the last quarter. Finally, Jones Financial Companies Lllp raised its stake in Teledyne Technologies by 31.6% during the 4th quarter. Jones Financial Companies Lllp now owns 200 shares of the scientific and technical instruments company’s stock worth $93,000 after buying an additional 48 shares during the period. Institutional investors own 91.58% of the company’s stock.

Insiders Place Their Bets

In related news, Vice Chairman Jason Vanwees sold 3,700 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $520.06, for a total transaction of $1,924,222.00. Following the completion of the transaction, the insider now owns 51,324 shares in the company, valued at approximately $26,691,559.44. This represents a 6.72 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Melanie Susan Cibik sold 706 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $519.96, for a total transaction of $367,091.76. Following the sale, the executive vice president now owns 26,529 shares of the company’s stock, valued at $13,794,018.84. This trade represents a 2.59 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 36,596 shares of company stock valued at $18,678,177. Corporate insiders own 2.14% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on TDY shares. UBS Group began coverage on Teledyne Technologies in a research note on Tuesday, December 10th. They issued a “buy” rating and a $585.00 price objective for the company. Needham & Company LLC reissued a “buy” rating and issued a $585.00 price target 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.com, Teledyne Technologies has a consensus rating of “Buy” and an average target price of $538.00.

Teledyne Technologies Stock Performance

Shares of TDY opened at $489.12 on Wednesday. Teledyne Technologies Incorporated has a 52 week low of $355.41 and a 52 week high of $522.50. 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 50 day moving average price of $491.68 and a two-hundred day moving average price of $468.57. The firm has a market capitalization of $22.91 billion, a P/E ratio of 28.39, a P/E/G ratio of 3.14 and a beta of 1.03.

Teledyne Technologies (NYSE:TDY) last issued 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 last year, the business earned $5.44 EPS. Equities analysts forecast that Teledyne Technologies Incorporated will post 21.55 earnings per share for the current fiscal year.

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.