Peapack Gladstone Financial Corp Purchases New Position in Teledyne Technologies Incorporated (NYSE:TDY)

Peapack Gladstone Financial Corp acquired a new stake in Teledyne Technologies Incorporated (NYSE:TDY) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 517 shares of the scientific and technical instruments company’s stock, valued at approximately $240,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Hurley Capital LLC acquired a new stake in shares of Teledyne Technologies during the 4th quarter worth approximately $33,000. Wilmington Savings Fund Society FSB bought a new position in Teledyne Technologies in the third quarter valued at approximately $39,000. Millstone Evans Group LLC bought a new stake in shares of Teledyne Technologies in the fourth quarter worth $42,000. Newbridge Financial Services Group Inc. bought a new stake in shares of Teledyne Technologies in the fourth quarter worth $46,000. Finally, Tortoise Investment Management LLC increased its holdings in Teledyne Technologies by 63.2% during the fourth quarter. Tortoise Investment Management LLC now owns 124 shares of the scientific and technical instruments company’s stock worth $58,000 after buying an additional 48 shares during the last quarter. Institutional investors and hedge funds own 91.58% of the company’s stock.

Insider Buying and Selling at Teledyne Technologies

In related news, Chairman Robert Mehrabian sold 5,768 shares of the business’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $518.22, for a total value of $2,989,092.96. Following the sale, the chairman now directly owns 144,553 shares in the company, valued at approximately $74,910,255.66. The trade was a 3.84 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO George C. Bobb III sold 6,308 shares of the business’s stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $507.77, for a total value of $3,203,013.16. Following the completion of the sale, the chief operating officer now owns 10,482 shares in the company, valued at $5,322,445.14. This represents a 37.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 34,571 shares of company stock worth $17,709,721. Corporate insiders own 1.50% of the company’s stock.

Analyst Ratings Changes

TDY has been the topic of several research reports. Needham & Company LLC reiterated a “buy” rating and issued a $585.00 price objective on shares of Teledyne Technologies in a report on Wednesday, February 5th. StockNews.com cut shares of Teledyne Technologies from a “buy” rating to a “hold” rating in a research report on Wednesday, April 2nd. Finally, 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 report on Monday, March 17th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $548.00.

Teledyne Technologies Stock Performance

NYSE:TDY opened at $468.17 on Thursday. The company has a market capitalization of $21.93 billion, a PE ratio of 27.17, a P/E/G ratio of 3.14 and a beta of 1.03. Teledyne Technologies Incorporated has a fifty-two week low of $355.41 and a fifty-two 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 company has a 50 day simple moving average of $492.94 and a two-hundred day simple moving average of $476.98.

Teledyne Technologies (NYSE:TDY) last issued its earnings results on Wednesday, January 22nd. The scientific and technical instruments company reported $5.52 earnings per share (EPS) for the quarter, topping 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 analysts’ expectations of $1.45 billion. During the same period last year, the business earned $5.44 EPS. Teledyne Technologies’s quarterly revenue was up 5.4% compared to the same quarter last year. Research analysts anticipate that Teledyne Technologies Incorporated will post 21.55 earnings per share for the current 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.