Freestone Grove Partners LP Makes New $61.94 Million Investment in Teledyne Technologies Incorporated (NYSE:TDY)

Freestone Grove Partners LP bought a new position in Teledyne Technologies Incorporated (NYSE:TDY - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 133,452 shares of the scientific and technical instruments company's stock, valued at approximately $61,939,000. Teledyne Technologies accounts for approximately 0.8% of Freestone Grove Partners LP's holdings, making the stock its 29th biggest position. Freestone Grove Partners LP owned about 0.29% of Teledyne Technologies as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Quarry LP purchased a new position in shares of Teledyne Technologies in the 4th quarter worth about $28,000. Hurley Capital LLC purchased a new position in Teledyne Technologies in the fourth quarter valued at approximately $33,000. Wilmington Savings Fund Society FSB acquired a new position in Teledyne Technologies during the third quarter valued at approximately $39,000. Millstone Evans Group LLC purchased a new stake in Teledyne Technologies during the fourth quarter worth approximately $42,000. Finally, Newbridge Financial Services Group Inc. acquired a new stake in shares of Teledyne Technologies in the fourth quarter worth $46,000. Institutional investors and hedge funds own 91.58% of the company's stock.

Teledyne Technologies Stock Up 2.7 %

TDY traded up $12.51 on Friday, reaching $478.77. The company's stock had a trading volume of 369,492 shares, compared to its average volume of 255,243. Teledyne Technologies Incorporated has a 1 year low of $380.63 and a 1 year high of $522.50. The business's 50 day moving average is $479.25 and its 200 day moving average is $479.18. 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 stock has a market cap of $22.42 billion, a price-to-earnings ratio of 27.79, a price-to-earnings-growth ratio of 3.14 and a beta of 1.03.

Teledyne Technologies (NYSE:TDY - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The scientific and technical instruments company reported $4.95 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.92 by $0.03. The company 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 quarterly revenue was up 7.4% on a year-over-year basis. During the same period in the prior year, the company posted $4.55 EPS. As a group, research analysts forecast that Teledyne Technologies Incorporated will post 21.55 EPS for the current fiscal year.

Insider Buying and Selling

In other 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 value of $1,924,222.00. Following the completion of the transaction, the insider now owns 51,324 shares in the company, valued at approximately $26,691,559.44. This trade represents a 6.72 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Melanie Susan Cibik sold 706 shares of the company's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $519.96, for a total value of $367,091.76. Following the sale, the executive vice president now directly owns 26,529 shares in the company, valued at approximately $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. Over the last three months, insiders sold 9,413 shares of company stock worth $4,846,536. Corporate insiders own 1.50% of the company's stock.

Analysts Set New Price Targets

TDY has been the subject of a number of research reports. StockNews.com cut shares of Teledyne Technologies from a "buy" rating to a "hold" rating in a research report on Monday, April 28th. TD Securities reiterated a "buy" rating and issued a $550.00 target price on shares of Teledyne Technologies in a research note on Thursday, April 24th. Bank of America boosted their price target on Teledyne Technologies from $550.00 to $600.00 and gave the stock a "buy" rating in a research report on Monday, March 17th. Finally, Needham & Company LLC lowered their price objective on shares of Teledyne Technologies from $585.00 to $550.00 and set a "buy" rating for the company in a research report on Thursday, April 24th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Teledyne Technologies has an average rating of "Moderate 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.