KLP Kapitalforvaltning AS Purchases Shares of 24,840 Teledyne Technologies Incorporated (NYSE:TDY)

KLP Kapitalforvaltning AS acquired a new position in shares of Teledyne Technologies Incorporated (NYSE:TDY) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 24,840 shares of the scientific and technical instruments company’s stock, valued at approximately $11,529,000. KLP Kapitalforvaltning AS owned 0.05% of Teledyne Technologies as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Sei Investments Co. grew its holdings in Teledyne Technologies by 5.3% in the 4th quarter. Sei Investments Co. now owns 383,113 shares of the scientific and technical instruments company’s stock valued at $177,814,000 after buying an additional 19,421 shares in the last quarter. American Century Companies Inc. boosted its position in shares of Teledyne Technologies by 1.0% in the fourth quarter. American Century Companies Inc. now owns 3,195 shares of the scientific and technical instruments company’s stock valued at $1,483,000 after acquiring an additional 32 shares during the period. Mizuho Securities USA LLC grew its stake in shares of Teledyne Technologies by 45.6% in the fourth quarter. Mizuho Securities USA LLC now owns 4,417 shares of the scientific and technical instruments company’s stock valued at $2,050,000 after acquiring an additional 1,383 shares in the last quarter. Millstone Evans Group LLC bought a new position in Teledyne Technologies during the fourth quarter worth about $42,000. Finally, Whittier Trust Co. of Nevada Inc. raised its stake in Teledyne Technologies by 5.3% in the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 15,011 shares of the scientific and technical instruments company’s stock worth $6,967,000 after purchasing an additional 750 shares in the last quarter. Institutional investors and hedge funds own 91.58% of the company’s stock.

Insider Buying and Selling at Teledyne Technologies

In other news, Vice Chairman Jason Vanwees sold 3,700 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $520.06, for a total value of $1,924,222.00. Following the sale, the insider now directly owns 51,324 shares in the company, valued at approximately $26,691,559.44. This trade represents a 6.72 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Melanie Susan Cibik sold 706 shares of the company’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 transaction of $367,091.76. Following the transaction, the executive vice president now owns 26,529 shares of the company’s stock, valued at approximately $13,794,018.84. This represents a 2.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 34,571 shares of company stock worth $17,709,721 over the last 90 days. Insiders own 2.14% of the company’s stock.

Teledyne Technologies Stock Performance

Shares of Teledyne Technologies stock opened at $507.63 on Tuesday. The company has a current ratio of 2.33, a quick ratio of 1.61 and a debt-to-equity ratio of 0.28. The company has a market cap of $23.78 billion, a PE ratio of 29.46, a price-to-earnings-growth ratio of 3.14 and a beta of 1.03. The company has a 50 day moving average of $498.18 and a 200-day moving average of $472.92. Teledyne Technologies Incorporated has a 1-year low of $355.41 and a 1-year high of $522.50.

Teledyne Technologies (NYSE:TDY) last released its earnings results on Wednesday, January 22nd. The scientific and technical instruments company reported $5.52 earnings per share for the quarter, topping the consensus estimate of $5.23 by $0.29. Teledyne Technologies had a return on equity of 9.94% and a net margin of 14.45%. The firm had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.45 billion. During the same period in the prior year, the company earned $5.44 earnings per share. The company’s quarterly revenue was up 5.4% on a year-over-year basis. As a group, equities research analysts forecast that Teledyne Technologies Incorporated will post 21.55 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have issued reports on TDY. Bank of America increased their target price on shares of Teledyne Technologies from $550.00 to $600.00 and gave the stock a “buy” rating in a research report on Monday, March 17th. UBS Group began coverage on Teledyne Technologies in a research report on Tuesday, December 10th. They set a “buy” rating and a $585.00 price target on the stock. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $585.00 price objective on shares of Teledyne Technologies in a report on Wednesday, February 5th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Teledyne Technologies currently has a consensus rating of “Buy” and an average price target of $548.00.

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.