Sandhill Capital Partners LLC Makes New $21.04 Million Investment in Teledyne Technologies Incorporated (NYSE:TDY)

Sandhill Capital Partners LLC bought a new position in shares of Teledyne Technologies Incorporated (NYSE:TDY) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 47,137 shares of the scientific and technical instruments company’s stock, valued at approximately $21,037,000. Teledyne Technologies accounts for 1.7% of Sandhill Capital Partners LLC’s portfolio, making the stock its 23rd largest position. Sandhill Capital Partners LLC owned about 0.10% of Teledyne Technologies at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in TDY. Bruce G. Allen Investments LLC purchased a new position in shares of Teledyne Technologies during the 4th quarter worth approximately $28,000. CVA Family Office LLC purchased a new position in shares of Teledyne Technologies during the 4th quarter worth approximately $31,000. Cary Street Partners Investment Advisory LLC purchased a new position in shares of Teledyne Technologies during the 3rd quarter worth approximately $44,000. Anchor Investment Management LLC purchased a new position in shares of Teledyne Technologies during the 4th quarter worth approximately $45,000. Finally, Householder Group Estate & Retirement Specialist LLC grew its holdings in shares of Teledyne Technologies by 63.2% during the 4th quarter. Householder Group Estate & Retirement Specialist LLC now owns 111 shares of the scientific and technical instruments company’s stock worth $49,000 after acquiring an additional 43 shares during the period. Hedge funds and other institutional investors own 91.58% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. StockNews.com upgraded Teledyne Technologies from a “hold” rating to a “buy” rating in a research note on Saturday, February 10th. TD Cowen cut their price target on Teledyne Technologies from $475.00 to $450.00 and set a “buy” rating on the stock in a research note on Thursday. Finally, Needham & Company LLC cut their price target on Teledyne Technologies from $510.00 to $455.00 and set a “buy” rating on the stock in a research note on Thursday. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Teledyne Technologies presently has a consensus rating of “Buy” and an average target price of $498.43.

Teledyne Technologies Stock Up 4.0 %

TDY stock traded up $14.56 during midday trading on Thursday, hitting $377.06. The company’s stock had a trading volume of 684,295 shares, compared to its average volume of 232,589. The company has a market cap of $17.87 billion, a PE ratio of 20.38, a P/E/G ratio of 2.62 and a beta of 1.02. Teledyne Technologies Incorporated has a 12 month low of $355.41 and a 12 month high of $448.19. The company has a current ratio of 1.69, a quick ratio of 1.17 and a debt-to-equity ratio of 0.29. The firm’s 50-day moving average is $418.66 and its 200-day moving average is $414.90.

Teledyne Technologies (NYSE:TDY) last released its quarterly earnings data on Wednesday, April 24th. The scientific and technical instruments company reported $4.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.63 by ($0.08). The business had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.39 billion. Teledyne Technologies had a net margin of 15.72% and a return on equity of 10.81%. The business’s revenue was down 2.4% compared to the same quarter last year. During the same period last year, the company posted $4.53 earnings per share. On average, equities research analysts forecast that Teledyne Technologies Incorporated will post 20.56 earnings per share for the current fiscal year.

Insider Activity at Teledyne Technologies

In related news, Director Kenneth C. Dahlberg sold 4,000 shares of the company’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $432.91, for a total value of $1,731,640.00. Following the transaction, the director now directly owns 18,735 shares of the company’s stock, valued at approximately $8,110,568.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Michael T. Smith sold 511 shares of the stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $431.00, for a total transaction of $220,241.00. Following the transaction, the director now directly owns 56,492 shares of the company’s stock, valued at approximately $24,348,052. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Kenneth C. Dahlberg sold 4,000 shares of the stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $432.91, for a total value of $1,731,640.00. Following the transaction, the director now directly owns 18,735 shares in the company, valued at $8,110,568.85. The disclosure for this sale can be found here. In the last three months, insiders have sold 6,711 shares of company stock valued at $2,890,621. 2.14% of the stock is owned by corporate 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.