Proficio Capital Partners LLC Invests $29.08 Million in Teledyne Technologies Incorporated (NYSE:TDY)

Proficio Capital Partners LLC bought a new position in shares of Teledyne Technologies Incorporated (NYSE:TDY) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 62,658 shares of the scientific and technical instruments company’s stock, valued at approximately $29,081,000. Proficio Capital Partners LLC owned approximately 0.13% of Teledyne Technologies as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. Brooklyn Investment Group acquired a new position in Teledyne Technologies in the 3rd quarter valued at about $32,000. Wilmington Savings Fund Society FSB acquired a new position in Teledyne Technologies in the 3rd quarter valued at about $39,000. Newbridge Financial Services Group Inc. acquired a new position in Teledyne Technologies in the 4th quarter valued at about $46,000. Allworth Financial LP increased its position in Teledyne Technologies by 15.1% in 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 period. Finally, Salem Investment Counselors Inc. increased its position in Teledyne Technologies by 85.5% in the 4th quarter. Salem Investment Counselors Inc. now owns 230 shares of the scientific and technical instruments company’s stock valued at $107,000 after acquiring an additional 106 shares during the period. Institutional investors and hedge funds own 91.58% of the company’s stock.

Insider Transactions at Teledyne Technologies

In other news, VP Cynthia Y. Belak sold 5,745 shares of the business’s stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $508.34, for a total transaction of $2,920,413.30. Following the sale, the vice president now owns 4,962 shares of the company’s stock, valued at $2,522,383.08. The trade was a 53.66 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Michael T. Smith sold 2,025 shares of the business’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $478.25, for a total value of $968,456.25. Following the sale, the director now directly owns 54,935 shares in the company, valued at $26,272,663.75. This trade represents a 3.56 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 32,190 shares of company stock valued at $16,386,864 in the last quarter. 1.88% of the stock is currently owned by corporate insiders.

Teledyne Technologies Stock Performance

NYSE TDY opened at $515.60 on Friday. The business’s 50 day moving average is $487.79 and its two-hundred day moving average is $463.40. The stock has a market capitalization of $24.15 billion, a price-to-earnings ratio of 29.92, a PEG ratio of 3.14 and a beta of 1.03. The company has a current ratio of 2.33, a quick ratio of 1.61 and a debt-to-equity ratio of 0.28. 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 results on Wednesday, January 22nd. The scientific and technical instruments company reported $5.52 EPS for the quarter, topping the consensus estimate of $5.23 by $0.29. The business had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.45 billion. Teledyne Technologies had a return on equity of 9.94% and a net margin of 14.45%. The company’s quarterly revenue was up 5.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $5.44 EPS. Research analysts expect that Teledyne Technologies Incorporated will post 21.55 EPS for the current year.

Wall Street Analyst Weigh In

TDY has been the topic of several recent research reports. Needham & Company LLC restated a “buy” rating and issued a $585.00 price target on shares of Teledyne Technologies in a research report on Wednesday, February 5th. Bank of America upgraded Teledyne Technologies from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $450.00 to $550.00 in a research report on Friday, November 8th. Finally, UBS Group assumed coverage on Teledyne Technologies in a research report on Tuesday, December 10th. They set a “buy” rating and a $585.00 target price on the stock. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Teledyne Technologies currently has an average rating of “Buy” and a consensus target price of $538.00.

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.