Driehaus Capital Management LLC Invests $11.36 Million in Teledyne Technologies Incorporated (NYSE:TDY)

Driehaus Capital Management LLC purchased a new position in shares of Teledyne Technologies Incorporated (NYSE:TDY - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 24,467 shares of the scientific and technical instruments company's stock, valued at approximately $11,356,000. Driehaus Capital Management LLC owned approximately 0.05% of Teledyne Technologies at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Quarry LP acquired a new stake in Teledyne Technologies during the 4th quarter worth $28,000. Hurley Capital LLC bought a new stake in Teledyne Technologies during the 4th quarter worth about $33,000. Ancora Advisors LLC raised its holdings in shares of Teledyne Technologies by 192.3% in the 4th quarter. Ancora Advisors LLC now owns 76 shares of the scientific and technical instruments company's stock valued at $35,000 after purchasing an additional 50 shares during the period. Wilmington Savings Fund Society FSB bought a new stake in shares of Teledyne Technologies in the 3rd quarter valued at about $39,000. Finally, Millstone Evans Group LLC bought a new position in Teledyne Technologies in the 4th quarter valued at about $42,000. Institutional investors and hedge funds own 91.58% of the company's stock.

Insider Buying and Selling at Teledyne Technologies

In related news, Vice Chairman Jason Vanwees sold 3,700 shares of the firm's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $520.06, for a total value of $1,924,222.00. Following the transaction, the insider now owns 51,324 shares of the company's stock, valued at approximately $26,691,559.44. This trade represents a 6.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Melanie Susan Cibik sold 706 shares of Teledyne Technologies stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $519.96, for a total transaction of $367,091.76. Following the transaction, the executive vice president now directly owns 26,529 shares in the company, valued at $13,794,018.84. This represents a 2.59% decrease in their position. The disclosure for this sale can be found here. 1.50% of the stock is owned by company insiders.

Teledyne Technologies Price Performance

TDY stock traded up $5.06 during midday trading on Thursday, reaching $496.17. The company had a trading volume of 103,877 shares, compared to its average volume of 259,238. Teledyne Technologies Incorporated has a 1 year low of $380.63 and a 1 year high of $522.50. The company has a market capitalization of $23.25 billion, a P/E ratio of 28.79, a P/E/G ratio of 3.14 and a beta of 1.06. The firm has a 50-day moving average price of $476.84 and a 200-day moving average price of $480.72. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.33 and a quick ratio of 1.61.

Teledyne Technologies (NYSE:TDY - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The scientific and technical instruments company reported $4.95 EPS for the quarter, topping the consensus estimate of $4.92 by $0.03. Teledyne Technologies had a net margin of 14.45% and a return on equity of 9.94%. The business had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.44 billion. During the same period in the prior year, the business earned $4.55 EPS. The company's revenue for the quarter was up 7.4% on a year-over-year basis. On average, research analysts anticipate that Teledyne Technologies Incorporated will post 21.55 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently issued reports on TDY. StockNews.com upgraded shares of Teledyne Technologies from a "hold" rating to a "buy" rating in a research report on Friday, May 9th. Needham & Company LLC dropped their price target on shares of Teledyne Technologies from $585.00 to $550.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. Bank of America lifted their target price 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. Finally, TD Securities restated a "buy" rating and issued a $550.00 price target on shares of Teledyne Technologies in a report on Thursday, April 24th. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $542.50.

Teledyne Technologies Company 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.