Invesco Ltd. Buys 27,454 Shares of Teledyne Technologies Incorporated (NYSE:TDY)

Invesco Ltd. raised its stake in Teledyne Technologies Incorporated (NYSE:TDY) by 4.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 626,522 shares of the scientific and technical instruments company’s stock after acquiring an additional 27,454 shares during the period. Invesco Ltd.’s holdings in Teledyne Technologies were worth $290,788,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Stratos Wealth Partners LTD. increased its holdings in shares of Teledyne Technologies by 4.4% in the fourth quarter. Stratos Wealth Partners LTD. now owns 500 shares of the scientific and technical instruments company’s stock worth $232,000 after purchasing an additional 21 shares during the last quarter. Ironwood Investment Management LLC increased its stake in Teledyne Technologies by 0.8% in the 4th quarter. Ironwood Investment Management LLC now owns 2,876 shares of the scientific and technical instruments company’s stock worth $1,335,000 after acquiring an additional 22 shares during the last quarter. New York Life Investment Management LLC raised its holdings in shares of Teledyne Technologies by 0.4% during the 4th quarter. New York Life Investment Management LLC now owns 6,214 shares of the scientific and technical instruments company’s stock worth $2,884,000 after acquiring an additional 25 shares in the last quarter. Allworth Financial LP boosted its position in shares of Teledyne Technologies by 15.1% during the 4th quarter. Allworth Financial LP now owns 206 shares of the scientific and technical instruments company’s stock valued at $105,000 after acquiring an additional 27 shares during the last quarter. Finally, Net Worth Advisory Group grew its holdings in shares of Teledyne Technologies by 1.5% in the fourth quarter. Net Worth Advisory Group now owns 1,802 shares of the scientific and technical instruments company’s stock valued at $836,000 after purchasing an additional 27 shares in the last quarter. Hedge funds and other institutional investors own 91.58% of the company’s stock.

Insider Buying and Selling at Teledyne Technologies

In other news, COO George C. Bobb III sold 6,308 shares of the business’s stock in a transaction that occurred on Friday, January 24th. The stock was 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 directly owns 10,482 shares in the company, valued at $5,322,445.14. The trade was a 37.57 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Melanie Susan Cibik sold 706 shares of the company’s stock in a transaction 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 $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. In the last ninety days, insiders sold 34,571 shares of company stock worth $17,709,721. Company insiders own 1.50% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on TDY. Bank of America lifted their price objective on shares of Teledyne Technologies from $550.00 to $600.00 and gave the stock a “buy” rating in a research note on Monday, March 17th. StockNews.com downgraded Teledyne Technologies from a “buy” rating to a “hold” rating in a research report on Wednesday, April 2nd. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $585.00 price target on shares of Teledyne Technologies in a research note on Wednesday, February 5th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Teledyne Technologies currently has an average rating of “Moderate Buy” and an average target price of $548.00.

Teledyne Technologies Stock Performance

Shares of TDY opened at $459.84 on Friday. 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 firm has a market cap of $21.54 billion, a PE ratio of 26.69, a P/E/G ratio of 3.14 and a beta of 1.03. The stock has a fifty day moving average price of $491.98 and a 200-day moving average price of $477.15. Teledyne Technologies Incorporated has a 12 month low of $355.41 and a 12 month high of $522.50.

Teledyne Technologies (NYSE:TDY) last announced its quarterly earnings data on Wednesday, January 22nd. The scientific and technical instruments company reported $5.52 earnings per share for the quarter, beating analysts’ consensus estimates of $5.23 by $0.29. Teledyne Technologies had a net margin of 14.45% and a return on equity of 9.94%. The firm had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.45 billion. During the same period in the previous year, the company earned $5.44 earnings per share. The business’s quarterly revenue was up 5.4% compared to the same quarter last year. Equities research analysts predict that Teledyne Technologies Incorporated will post 21.55 earnings per share for the current fiscal 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.