Sandhill Capital Partners LLC Makes New Investment in Teledyne Technologies Incorporated (NYSE:TDY)

Sandhill Capital Partners LLC purchased a new position in shares of Teledyne Technologies Incorporated (NYSE:TDY) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 47,137 shares of the scientific and technical instruments company’s stock, valued at approximately $21,037,000. Teledyne Technologies accounts for approximately 1.7% of Sandhill Capital Partners LLC’s holdings, making the stock its 23rd largest position.

Several other hedge funds have also recently made changes to their positions in the company. Tokio Marine Asset Management Co. Ltd. increased its position in shares of Teledyne Technologies by 15.8% in the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 1,261 shares of the scientific and technical instruments company’s stock valued at $563,000 after acquiring an additional 172 shares during the period. Atria Wealth Solutions Inc. increased its position in shares of Teledyne Technologies by 18.1% in the 4th quarter. Atria Wealth Solutions Inc. now owns 922 shares of the scientific and technical instruments company’s stock valued at $411,000 after acquiring an additional 141 shares during the period. Watershed Asset Management L.L.C. acquired a new position in shares of Teledyne Technologies in the 4th quarter valued at $304,000. GAMMA Investing LLC acquired a new position in shares of Teledyne Technologies in the 4th quarter valued at $109,000. Finally, Marks Group Wealth Management Inc increased its position in shares of Teledyne Technologies by 0.5% in the 4th quarter. Marks Group Wealth Management Inc now owns 16,098 shares of the scientific and technical instruments company’s stock valued at $7,184,000 after acquiring an additional 75 shares during the period. 91.58% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Teledyne Technologies

In other Teledyne Technologies news, Director Michael T. Smith sold 511 shares of the stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $431.00, for a total value of $220,241.00. Following the completion of the sale, the director now owns 56,492 shares in the company, valued at approximately $24,348,052. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, Director Michael T. Smith sold 511 shares of the firm’s stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $431.00, for a total transaction of $220,241.00. Following the completion of the sale, the director now owns 56,492 shares in the company, valued at approximately $24,348,052. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Simon M. Lorne sold 2,200 shares of the firm’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $426.70, for a total transaction of $938,740.00. Following the sale, the director now owns 67,288 shares of the company’s stock, valued at approximately $28,711,789.60. The disclosure for this sale can be found here. In the last three months, insiders have sold 6,711 shares of company stock valued at $2,890,621. 2.14% of the stock is owned by corporate insiders.

Teledyne Technologies Price Performance

Shares of TDY stock traded up $14.56 during mid-day trading on Thursday, hitting $377.06. 684,295 shares of the stock were exchanged, compared to its average volume of 232,589. The firm has a fifty day moving average of $418.66 and a 200 day moving average of $414.90. The company has a quick ratio of 1.17, a current ratio of 1.69 and a debt-to-equity ratio of 0.29. Teledyne Technologies Incorporated has a 52-week low of $355.41 and a 52-week high of $448.19. The company has a market cap of $17.87 billion, a PE ratio of 20.38, a price-to-earnings-growth ratio of 2.62 and a beta of 1.02.

Teledyne Technologies (NYSE:TDY) last issued its quarterly earnings results on Wednesday, April 24th. The scientific and technical instruments company reported $4.55 earnings per share for the quarter, missing analysts’ consensus estimates of $4.63 by ($0.08). The company had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.39 billion. Teledyne Technologies had a net margin of 15.72% and a return on equity of 10.81%. The company’s quarterly revenue was down 2.4% compared to the same quarter last year. During the same period in the prior year, the business posted $4.53 earnings per share. Research analysts anticipate that Teledyne Technologies Incorporated will post 20.56 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on TDY shares. Needham & Company LLC cut their price target on Teledyne Technologies from $510.00 to $455.00 and set a “buy” rating on the stock in a research report on Thursday. TD Cowen cut their price target on Teledyne Technologies from $475.00 to $450.00 and set a “buy” rating on the stock in a research report on Thursday. Finally, StockNews.com raised Teledyne Technologies from a “hold” rating to a “buy” rating in a research report on Saturday, February 10th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $498.43.

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.