Versor Investments LP Acquires New Position in Teledyne Technologies Incorporated (NYSE:TDY)

Versor Investments LP acquired a new stake in shares of Teledyne Technologies Incorporated (NYSE:TDY) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 1,802 shares of the scientific and technical instruments company’s stock, valued at approximately $836,000.

Several other hedge funds and other institutional investors have also bought and sold shares of TDY. Mirae Asset Global Investments Co. Ltd. lifted its stake in Teledyne Technologies by 37.5% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,114 shares of the scientific and technical instruments company’s stock valued at $1,357,000 after acquiring an additional 850 shares during the period. Diversify Wealth Management LLC lifted its stake in Teledyne Technologies by 6.5% during the 3rd quarter. Diversify Wealth Management LLC now owns 2,945 shares of the scientific and technical instruments company’s stock valued at $1,384,000 after acquiring an additional 180 shares during the period. Congress Asset Management Co. lifted its stake in Teledyne Technologies by 0.7% during the 3rd quarter. Congress Asset Management Co. now owns 274,769 shares of the scientific and technical instruments company’s stock valued at $120,255,000 after acquiring an additional 1,805 shares during the period. Rice Hall James & Associates LLC lifted its stake in Teledyne Technologies by 7.2% during the 3rd quarter. Rice Hall James & Associates LLC now owns 1,784 shares of the scientific and technical instruments company’s stock valued at $781,000 after acquiring an additional 120 shares during the period. Finally, Cigna Investments Inc. New bought a new position in Teledyne Technologies during the 3rd quarter valued at about $217,000. Institutional investors own 91.58% of the company’s stock.

Wall Street Analyst Weigh In

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

Teledyne Technologies Stock Performance

TDY opened at $500.73 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 company has a market cap of $23.45 billion, a price-to-earnings ratio of 29.06, a PEG ratio of 3.14 and a beta of 1.03. The company’s 50 day moving average is $487.08 and its 200 day moving average is $463.14. Teledyne Technologies Incorporated has a 12-month low of $355.41 and a 12-month high of $522.50.

Teledyne Technologies (NYSE:TDY) last posted its quarterly earnings data 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 net margin of 14.45% and a return on equity of 9.94%. The company had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.45 billion. During the same quarter last year, the firm posted $5.44 earnings per share. The firm’s revenue was up 5.4% compared to the same quarter last year. On average, equities research analysts predict that Teledyne Technologies Incorporated will post 21.55 EPS for the current year.

Insider Buying and Selling at Teledyne Technologies

In other Teledyne Technologies news, Chairman Robert Mehrabian sold 5,768 shares of Teledyne Technologies stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $518.22, for a total transaction of $2,989,092.96. Following the transaction, the chairman now owns 144,553 shares of the company’s stock, valued at $74,910,255.66. The trade was a 3.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael T. Smith sold 2,025 shares of Teledyne Technologies stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $478.25, for a total transaction of $968,456.25. Following the transaction, the director now directly owns 54,935 shares in the company, valued at $26,272,663.75. This 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 over the last 90 days. 1.88% of the stock is currently owned by corporate insiders.

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.