Shell Asset Management Co. Boosts Stock Position in Teledyne Technologies Incorporated (NYSE:TDY)

Shell Asset Management Co. boosted its holdings in Teledyne Technologies Incorporated (NYSE:TDY - Free Report) by 250.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,278 shares of the scientific and technical instruments company's stock after buying an additional 913 shares during the period. Shell Asset Management Co.'s holdings in Teledyne Technologies were worth $593,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in TDY. Quarry LP acquired a new stake in Teledyne Technologies in the 4th quarter worth about $28,000. Hurley Capital LLC acquired a new position in shares of Teledyne Technologies in the 4th quarter valued at about $33,000. Ancora Advisors LLC lifted its stake 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 in the last quarter. Millstone Evans Group LLC acquired a new position in shares of Teledyne Technologies in the 4th quarter valued at about $42,000. Finally, Newbridge Financial Services Group Inc. acquired a new position in shares of Teledyne Technologies in the 4th quarter valued at about $46,000. 91.58% of the stock is owned by institutional investors and hedge funds.

Teledyne Technologies Stock Down 0.4%

Teledyne Technologies stock traded down $1.74 during midday trading on Friday, hitting $486.30. 156,326 shares of the company were exchanged, compared to its average volume of 260,998. The company's fifty day moving average price is $477.54 and its 200-day moving average price is $482.37. The company has a market cap of $22.79 billion, a PE ratio of 28.22, a price-to-earnings-growth ratio of 3.14 and a beta of 1.06. 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 Incorporated has a fifty-two week low of $380.63 and a fifty-two week high of $522.50.

Teledyne Technologies (NYSE:TDY - Get Free Report) last released its quarterly earnings results 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. The firm had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.44 billion. Teledyne Technologies had a return on equity of 9.94% and a net margin of 14.45%. Teledyne Technologies's revenue for the quarter was up 7.4% on a year-over-year basis. During the same period in the previous year, the company posted $4.55 EPS. On average, research analysts predict that Teledyne Technologies Incorporated will post 21.55 EPS for the current fiscal year.

Insider Buying and Selling

In other Teledyne Technologies news, Vice Chairman Jason Vanwees sold 3,700 shares of Teledyne Technologies stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $520.06, for a total transaction of $1,924,222.00. Following the sale, the insider now directly owns 51,324 shares in the company, valued at $26,691,559.44. The trade was a 6.72% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Melanie Susan Cibik sold 706 shares of Teledyne Technologies stock in a transaction that occurred 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 $13,794,018.84. This represents a 2.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.50% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Wall Street Zen raised Teledyne Technologies from a "hold" rating to a "buy" rating in a research note on Friday, May 9th. Needham & Company LLC reduced their price objective on Teledyne Technologies from $585.00 to $550.00 and set a "buy" rating on the stock in a research note on Thursday, April 24th. TD Securities reaffirmed a "buy" rating and issued a $550.00 price objective on shares of Teledyne Technologies in a research note on Thursday, April 24th. Finally, Bank of America lifted their price objective on Teledyne Technologies from $550.00 to $600.00 and gave the company a "buy" rating in a research note on Monday, March 17th. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of $542.50.

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.