Legacy Wealth Asset Management LLC Makes New Investment in Teledyne Technologies Incorporated (NYSE:TDY)

Legacy Wealth Asset Management LLC purchased a new position in Teledyne Technologies Incorporated (NYSE:TDY) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 628 shares of the scientific and technical instruments company’s stock, valued at approximately $246,000.

Other hedge funds also recently bought and sold shares of the company. Meeder Asset Management Inc. grew its position in Teledyne Technologies by 110.0% during the fourth quarter. Meeder Asset Management Inc. now owns 63 shares of the scientific and technical instruments company’s stock valued at $25,000 after purchasing an additional 33 shares in the last quarter. Allstate Corp boosted its stake in shares of Teledyne Technologies by 2.8% during the 4th quarter. Allstate Corp now owns 1,289 shares of the scientific and technical instruments company’s stock valued at $505,000 after buying an additional 35 shares during the period. Nikko Asset Management Americas Inc. grew its holdings in shares of Teledyne Technologies by 9.1% during the 4th quarter. Nikko Asset Management Americas Inc. now owns 433 shares of the scientific and technical instruments company’s stock valued at $170,000 after acquiring an additional 36 shares in the last quarter. Treasurer of the State of North Carolina grew its holdings in shares of Teledyne Technologies by 0.4% during the 4th quarter. Treasurer of the State of North Carolina now owns 13,900 shares of the scientific and technical instruments company’s stock valued at $5,449,000 after acquiring an additional 50 shares in the last quarter. Finally, Cetera Advisors LLC increased its stake in shares of Teledyne Technologies by 2.4% in the fourth quarter. Cetera Advisors LLC now owns 2,211 shares of the scientific and technical instruments company’s stock worth $867,000 after acquiring an additional 51 shares during the last quarter. Institutional investors and hedge funds own 88.37% of the company’s stock.

Separately, Needham & Company LLC upped their target price on Teledyne Technologies from $365.00 to $395.00 and gave the stock a “buy” rating in a research report on Tuesday, January 5th. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $365.00.

In other news, Chairman Robert Mehrabian acquired 10,000 shares of Teledyne Technologies stock in a transaction dated Friday, January 29th. The stock was acquired at an average cost of $366.05 per share, for a total transaction of $3,660,500.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Jason Vanwees acquired 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 4th. The shares were purchased at an average cost of $357.48 per share, with a total value of $1,072,440.00. Following the completion of the acquisition, the executive vice president now owns 37,465 shares in the company, valued at approximately $13,392,988.20. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 23,261 shares of company stock valued at $8,454,063. 3.15% of the stock is currently owned by corporate insiders.

TDY stock opened at $419.72 on Friday. The firm has a 50 day moving average of $395.19 and a two-hundred day moving average of $371.03. Teledyne Technologies Incorporated has a 12 month low of $289.19 and a 12 month high of $424.05. The company has a market capitalization of $15.54 billion, a price-to-earnings ratio of 41.19 and a beta of 1.08. The company has a quick ratio of 1.74, a current ratio of 2.29 and a debt-to-equity ratio of 0.25.

Teledyne Technologies (NYSE:TDY) last released its quarterly earnings data on Wednesday, January 27th. The scientific and technical instruments company reported $3.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.11 by $0.37. The business had revenue of $809.30 million during the quarter, compared to analyst estimates of $800.15 million. Teledyne Technologies had a net margin of 12.39% and a return on equity of 13.42%. Teledyne Technologies’s quarterly revenue was down 3.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.06 EPS. On average, research analysts expect that Teledyne Technologies Incorporated will post 10.36 EPS for the current fiscal year.

About Teledyne Technologies

Teledyne Technologies Incorporated provides instrumentation, digital imaging, aerospace and defense electronics, and engineered systems in the United States, the United Kingdom, Canada, the Netherlands, and internationally. The company's Instrumentation segment offers monitoring and control instruments for marine, environmental, industrial, and other applications, as well as electronic test and measurement equipment; and power and communications connectivity devices for distributed instrumentation systems and sensor networks deployed in mission critical and harsh environments.

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Institutional Ownership by Quarter for Teledyne Technologies (NYSE:TDY)

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