Kovitz Investment Group Partners LLC Takes Position in Teledyne Technologies Incorporated (NYSE:TDY)

Kovitz Investment Group Partners LLC bought a new stake in Teledyne Technologies Incorporated (NYSE:TDY - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 675 shares of the scientific and technical instruments company's stock, valued at approximately $313,000.

Other hedge funds have also recently added to or reduced their stakes in the company. LPL Financial LLC grew its stake in shares of Teledyne Technologies by 8.5% in the 4th quarter. LPL Financial LLC now owns 28,366 shares of the scientific and technical instruments company's stock valued at $13,166,000 after purchasing an additional 2,224 shares during the period. Amundi raised its stake in Teledyne Technologies by 11.9% during the fourth quarter. Amundi now owns 124,874 shares of the scientific and technical instruments company's stock worth $57,687,000 after acquiring an additional 13,244 shares in the last quarter. Covea Finance lifted its holdings in shares of Teledyne Technologies by 25.1% during the fourth quarter. Covea Finance now owns 21,400 shares of the scientific and technical instruments company's stock valued at $9,932,000 after acquiring an additional 4,300 shares during the period. ING Groep NV boosted its stake in shares of Teledyne Technologies by 144.9% in the 4th quarter. ING Groep NV now owns 5,952 shares of the scientific and technical instruments company's stock valued at $2,763,000 after purchasing an additional 3,522 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in shares of Teledyne Technologies by 6.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,150,065 shares of the scientific and technical instruments company's stock worth $503,338,000 after purchasing an additional 64,617 shares during the last quarter. Institutional investors and hedge funds own 91.58% of the company's stock.

Teledyne Technologies Stock Performance

Shares of TDY stock opened at $478.77 on Friday. The company has a market capitalization of $22.42 billion, a P/E ratio of 27.79, a price-to-earnings-growth ratio of 3.14 and a beta of 1.03. Teledyne Technologies Incorporated has a 52 week low of $380.63 and a 52 week high of $522.50. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.61 and a current ratio of 2.33. The company's 50 day moving average price is $479.25 and its two-hundred day moving average price is $479.18.

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

Analyst Ratings Changes

TDY has been the subject of several analyst reports. Bank of America lifted their price target on shares of Teledyne Technologies from $550.00 to $600.00 and gave the company a "buy" rating in a report on Monday, March 17th. Needham & Company LLC reduced their target price on Teledyne Technologies from $585.00 to $550.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. StockNews.com cut Teledyne Technologies from a "buy" rating to a "hold" rating in a report on Monday, April 28th. Finally, TD Securities reissued a "buy" rating and issued a $550.00 price objective on shares of Teledyne Technologies in a research note on Thursday, April 24th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $542.50.

Insider Activity

In related news, EVP Melanie Susan Cibik sold 706 shares of the firm's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $519.96, for a total value of $367,091.76. Following the completion of the sale, the executive vice president now directly owns 26,529 shares in the company, valued at approximately $13,794,018.84. This trade represents a 2.59 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Chairman Robert Mehrabian sold 5,007 shares of the business's stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $510.33, for a total value of $2,555,222.31. Following the transaction, the chairman now directly owns 144,553 shares in the company, valued at approximately $73,769,732.49. This trade represents a 3.35 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 9,413 shares of company stock worth $4,846,536 in the last quarter. Corporate insiders own 1.50% 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.

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