ING Groep NV Purchases 3,522 Shares of Teledyne Technologies Incorporated (NYSE:TDY)

ING Groep NV boosted its position in Teledyne Technologies Incorporated (NYSE:TDY) by 144.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,952 shares of the scientific and technical instruments company’s stock after acquiring an additional 3,522 shares during the quarter. ING Groep NV’s holdings in Teledyne Technologies were worth $2,763,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in TDY. Creative Planning increased its stake in Teledyne Technologies by 13.3% in the third quarter. Creative Planning now owns 4,184 shares of the scientific and technical instruments company’s stock valued at $1,831,000 after acquiring an additional 492 shares during the last quarter. Sequoia Financial Advisors LLC boosted its position in Teledyne Technologies by 4.5% in the third quarter. Sequoia Financial Advisors LLC now owns 876 shares of the scientific and technical instruments company’s stock valued at $383,000 after buying an additional 38 shares in the last quarter. International Assets Investment Management LLC boosted its position in Teledyne Technologies by 44,457.2% in the third quarter. International Assets Investment Management LLC now owns 73,965 shares of the scientific and technical instruments company’s stock valued at $32,372,000 after buying an additional 73,799 shares in the last quarter. Elwood & Goetz Wealth Advisory Group LLC acquired a new stake in Teledyne Technologies in the third quarter valued at approximately $205,000. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position in Teledyne Technologies by 37.5% in the third 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 buying an additional 850 shares in the last quarter. 91.58% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on TDY. Needham & Company LLC restated a “buy” rating and issued a $585.00 target price on shares of Teledyne Technologies in a research report on Wednesday, February 5th. UBS Group began coverage on shares of Teledyne Technologies in a research report on Tuesday, December 10th. They issued a “buy” rating and a $585.00 target price on the stock. Finally, Bank of America upgraded shares of Teledyne Technologies from a “neutral” rating to a “buy” rating and raised their target price for the company from $450.00 to $550.00 in a research report on Friday, November 8th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $538.00.

Teledyne Technologies Price Performance

Shares of NYSE:TDY opened at $491.27 on Friday. The firm has a market cap of $22.89 billion, a PE ratio of 28.51, a price-to-earnings-growth ratio of 3.14 and a beta of 1.03. The firm’s fifty day moving average is $485.23 and its 200-day moving average is $461.22. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.61 and a current ratio of 2.33. Teledyne Technologies Incorporated has a 52 week low of $355.41 and a 52 week high of $522.50.

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

Insider Activity at Teledyne Technologies

In related news, Chairman Robert Mehrabian sold 5,768 shares of the business’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $518.22, for a total value of $2,989,092.96. Following the transaction, the chairman now owns 144,553 shares in the company, valued at $74,910,255.66. The trade was a 3.84 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Michael T. Smith sold 2,025 shares of the business’s stock in a transaction 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 completion of the transaction, the director now owns 54,935 shares in the company, valued at approximately $26,272,663.75. The trade was a 3.56 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 32,190 shares of company stock worth $16,386,864 over the last quarter. Company insiders own 2.14% of the company’s stock.

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.