Blue Capital Inc. Invests $765,000 in Teledyne Technologies Incorporated (NYSE:TDY)

Blue Capital Inc. bought a new position in shares of Teledyne Technologies Incorporated (NYSE:TDY - Free Report) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 1,648 shares of the scientific and technical instruments company's stock, valued at approximately $765,000.

Several other hedge funds have also modified their holdings of TDY. Captrust Financial Advisors grew its holdings in Teledyne Technologies by 25.2% during the 4th quarter. Captrust Financial Advisors now owns 9,559 shares of the scientific and technical instruments company's stock worth $4,437,000 after acquiring an additional 1,926 shares during the period. Castlekeep Investment Advisors LLC acquired a new stake in shares of Teledyne Technologies during the fourth quarter worth $2,801,000. Baird Financial Group Inc. increased its holdings in Teledyne Technologies by 3.0% in the fourth quarter. Baird Financial Group Inc. now owns 1,252 shares of the scientific and technical instruments company's stock valued at $581,000 after purchasing an additional 37 shares during the last quarter. Balyasny Asset Management L.P. lifted its stake in Teledyne Technologies by 74.8% in the fourth quarter. Balyasny Asset Management L.P. now owns 203,706 shares of the scientific and technical instruments company's stock valued at $94,546,000 after buying an additional 87,168 shares during the period. Finally, BNP Paribas Financial Markets boosted its holdings in Teledyne Technologies by 35.8% during the fourth quarter. BNP Paribas Financial Markets now owns 92,060 shares of the scientific and technical instruments company's stock worth $42,728,000 after buying an additional 24,245 shares during the last quarter. 91.58% of the stock is owned by institutional investors.

Teledyne Technologies Stock Up 1.2 %

Shares of TDY traded up $5.79 during mid-day trading on Wednesday, hitting $482.02. 205,970 shares of the company's stock were exchanged, compared to its average volume of 256,475. The company has a 50-day simple moving average of $477.66 and a 200 day simple moving average of $479.82. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.33 and a quick ratio of 1.61. The company has a market cap of $22.59 billion, a PE ratio of 27.98, a P/E/G ratio of 3.14 and a beta of 1.06. Teledyne Technologies Incorporated has a 52 week low of $380.63 and a 52 week high of $522.50.

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

Insiders Place Their Bets

In related news, EVP Melanie Susan Cibik sold 706 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $519.96, for a total value of $367,091.76. Following the sale, the executive vice president now owns 26,529 shares in the company, valued at approximately $13,794,018.84. This represents a 2.59 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Robert Mehrabian sold 5,007 shares of Teledyne Technologies stock in a transaction on Friday, February 7th. The stock was sold at an average price of $510.33, for a total transaction of $2,555,222.31. Following the transaction, the chairman now directly owns 144,553 shares of the company's stock, valued at approximately $73,769,732.49. This trade represents a 3.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 9,413 shares of company stock valued at $4,846,536. 1.50% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have weighed in on TDY shares. StockNews.com lowered Teledyne Technologies from a "buy" rating to a "hold" rating in a report on Monday, April 28th. TD Securities reiterated a "buy" rating and issued a $550.00 price objective on shares of Teledyne Technologies in a research report on Thursday, April 24th. Bank of America raised their target price on shares of Teledyne Technologies from $550.00 to $600.00 and gave the stock a "buy" rating in a report on Monday, March 17th. Finally, Needham & Company LLC reduced their price target on shares of Teledyne Technologies from $585.00 to $550.00 and set a "buy" rating for the company in a report on Thursday, April 24th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $542.50.

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.