Watershed Asset Management L.L.C. Buys New Stake in Teledyne Technologies Incorporated (NYSE:TDY)

Watershed Asset Management L.L.C. purchased a new position in shares of Teledyne Technologies Incorporated (NYSE:TDY) in the fourth quarter, Holdings Channel.com reports. The firm purchased 681 shares of the scientific and technical instruments company’s stock, valued at approximately $304,000.

Several other institutional investors and hedge funds have also made changes to their positions in the business. GAMMA Investing LLC purchased a new stake in Teledyne Technologies during the fourth quarter worth approximately $109,000. Marks Group Wealth Management Inc lifted its position in shares of Teledyne Technologies by 0.5% during the 4th quarter. Marks Group Wealth Management Inc now owns 16,098 shares of the scientific and technical instruments company’s stock worth $7,184,000 after buying an additional 75 shares during the last quarter. Jennison Associates LLC lifted its position in shares of Teledyne Technologies by 50.9% during the 4th quarter. Jennison Associates LLC now owns 178,793 shares of the scientific and technical instruments company’s stock worth $79,794,000 after buying an additional 60,335 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its position in shares of Teledyne Technologies by 13.8% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 4,713 shares of the scientific and technical instruments company’s stock valued at $2,103,000 after buying an additional 573 shares during the last quarter. Finally, Grandfield & Dodd LLC raised its stake in Teledyne Technologies by 11.2% during the 4th quarter. Grandfield & Dodd LLC now owns 30,894 shares of the scientific and technical instruments company’s stock worth $13,788,000 after acquiring an additional 3,111 shares in the last quarter. 91.58% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Teledyne Technologies

In other news, Director Simon M. Lorne sold 2,200 shares of the company’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $426.70, for a total transaction of $938,740.00. Following the completion of the sale, the director now owns 67,288 shares in the company, valued at $28,711,789.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Simon M. Lorne sold 2,200 shares of Teledyne Technologies stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $426.70, for a total value of $938,740.00. Following the sale, the director now owns 67,288 shares of the company’s stock, valued at $28,711,789.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Michael T. Smith sold 511 shares of the stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $431.00, for a total transaction of $220,241.00. Following the transaction, the director now directly owns 56,492 shares of the company’s stock, valued at $24,348,052. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 6,711 shares of company stock worth $2,890,621. 1.88% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Needham & Company LLC decreased their price objective on shares of Teledyne Technologies from $522.00 to $510.00 and set a “buy” rating for the company in a research note on Wednesday, January 24th. StockNews.com raised Teledyne Technologies from a “hold” rating to a “buy” rating in a research report on Saturday, February 10th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $515.67.

Teledyne Technologies Stock Performance

NYSE:TDY traded up $2.96 during trading hours on Tuesday, reaching $407.04. 292,421 shares of the company’s stock were exchanged, compared to its average volume of 215,712. The company has a quick ratio of 1.17, a current ratio of 1.69 and a debt-to-equity ratio of 0.29. The firm has a market capitalization of $19.29 billion, a price-to-earnings ratio of 22.00, a P/E/G ratio of 2.58 and a beta of 1.02. Teledyne Technologies Incorporated has a 1-year low of $364.98 and a 1-year high of $448.19. The company has a 50-day moving average of $419.96 and a 200 day moving average of $415.27.

Teledyne Technologies (NYSE:TDY) last announced its earnings results on Wednesday, January 24th. The scientific and technical instruments company reported $5.44 earnings per share for the quarter, topping the consensus estimate of $5.04 by $0.40. The business had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.46 billion. Teledyne Technologies had a net margin of 15.72% and a return on equity of 10.81%. The business’s quarterly revenue was up .5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $4.94 earnings per share. Research analysts anticipate that Teledyne Technologies Incorporated will post 20.56 EPS 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.