Port Capital LLC Increases Stock Holdings in Teledyne Technologies Incorporated (NYSE:TDY)

Port Capital LLC boosted its stake in shares of Teledyne Technologies Incorporated (NYSE:TDY - Free Report) by 1.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 203,123 shares of the scientific and technical instruments company's stock after acquiring an additional 2,585 shares during the period. Teledyne Technologies accounts for about 4.3% of Port Capital LLC's portfolio, making the stock its 5th biggest position. Port Capital LLC owned about 0.44% of Teledyne Technologies worth $94,275,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in TDY. Vanguard Group Inc. boosted its holdings in shares of Teledyne Technologies by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 5,612,484 shares of the scientific and technical instruments company's stock valued at $2,604,922,000 after purchasing an additional 46,479 shares in the last quarter. Janus Henderson Group PLC boosted its stake in Teledyne Technologies by 0.8% in the fourth quarter. Janus Henderson Group PLC now owns 1,723,082 shares of the scientific and technical instruments company's stock valued at $799,734,000 after buying an additional 13,607 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC grew its position in Teledyne Technologies by 1.6% in the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,316,360 shares of the scientific and technical instruments company's stock valued at $610,962,000 after acquiring an additional 20,165 shares during the last quarter. JPMorgan Chase & Co. raised its stake in Teledyne Technologies by 6.0% during the third quarter. JPMorgan Chase & Co. now owns 1,150,065 shares of the scientific and technical instruments company's stock worth $503,338,000 after acquiring an additional 64,617 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Teledyne Technologies in the fourth quarter worth about $306,042,000. 91.58% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have weighed in on TDY shares. Bank of America raised their target price on shares of Teledyne Technologies from $550.00 to $600.00 and gave the company a "buy" rating in a research report on Monday, March 17th. TD Securities restated a "buy" rating and set a $550.00 price objective on shares of Teledyne Technologies in a research report on Thursday, April 24th. StockNews.com upgraded Teledyne Technologies from a "hold" rating to a "buy" rating in a research report on Friday, May 9th. Finally, Needham & Company LLC reduced their price target on Teledyne Technologies from $585.00 to $550.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus target price of $542.50.

Teledyne Technologies Trading Down 0.8%

Shares of NYSE TDY traded down $3.98 during trading on Tuesday, reaching $493.06. The company had a trading volume of 217,177 shares, compared to its average volume of 259,738. The stock has a market cap of $23.10 billion, a P/E ratio of 28.59, a PEG ratio of 3.14 and a beta of 1.06. The company's fifty day moving average price is $477.73 and its 200-day moving average price is $481.83. The company has a quick ratio of 1.61, a current ratio of 2.33 and a debt-to-equity ratio of 0.28. Teledyne Technologies Incorporated has a 12 month low of $380.63 and a 12 month high of $522.50.

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 EPS for the quarter, topping 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%. The firm's quarterly revenue was up 7.4% on a year-over-year basis. During the same period in the previous year, the firm earned $4.55 earnings per share. As a group, research analysts expect that Teledyne Technologies Incorporated will post 21.55 earnings per share for the current year.

Insider Buying and Selling

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

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.