Proficio Capital Partners LLC Makes New $29.08 Million Investment in Teledyne Technologies Incorporated (NYSE:TDY)

Proficio Capital Partners LLC bought a new position in Teledyne Technologies Incorporated (NYSE:TDY) during the 4th quarter, HoldingsChannel.com reports. The fund bought 62,658 shares of the scientific and technical instruments company’s stock, valued at approximately $29,081,000.

Other hedge funds also recently bought and sold shares of the company. Brooklyn Investment Group acquired a new position in shares of Teledyne Technologies during the 3rd quarter valued at about $32,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Teledyne Technologies during the 3rd quarter valued at about $39,000. Newbridge Financial Services Group Inc. acquired a new position in shares of Teledyne Technologies during the 4th quarter valued at about $46,000. Private Trust Co. NA increased its holdings in shares of Teledyne Technologies by 43.0% during the 4th quarter. Private Trust Co. NA now owns 173 shares of the scientific and technical instruments company’s stock valued at $80,000 after acquiring an additional 52 shares during the last quarter. Finally, Jones Financial Companies Lllp increased its holdings in shares of Teledyne Technologies by 31.6% during the 4th quarter. Jones Financial Companies Lllp now owns 200 shares of the scientific and technical instruments company’s stock valued at $93,000 after acquiring an additional 48 shares during the last quarter. 91.58% of the stock is owned by institutional investors and hedge funds.

Teledyne Technologies Price Performance

Shares of TDY stock opened at $491.72 on Friday. The stock has a 50 day moving average of $493.19 and a two-hundred day moving average of $469.25. The company has a current ratio of 2.33, a quick ratio of 1.61 and a debt-to-equity ratio of 0.28. Teledyne Technologies Incorporated has a 12 month low of $355.41 and a 12 month high of $522.50. The company has a market capitalization of $23.03 billion, a P/E ratio of 28.54, a P/E/G ratio of 3.14 and a beta of 1.03.

Teledyne Technologies (NYSE:TDY) last announced its quarterly earnings data on Wednesday, January 22nd. The scientific and technical instruments company reported $5.52 EPS for the quarter, topping analysts’ consensus estimates of $5.23 by $0.29. Teledyne Technologies had a return on equity of 9.94% and a net margin of 14.45%. The company had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.45 billion. During the same quarter last year, the company earned $5.44 EPS. The company’s quarterly revenue was up 5.4% on a year-over-year basis. As a group, equities analysts expect that Teledyne Technologies Incorporated will post 21.55 EPS for the current year.

Analyst Ratings Changes

Several analysts recently weighed in on TDY shares. UBS Group started coverage on Teledyne Technologies in a research note on Tuesday, December 10th. They set a “buy” rating and a $585.00 target price for the company. Needham & Company LLC restated a “buy” rating and set a $585.00 target price on shares of Teledyne Technologies in a research note on Wednesday, February 5th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $538.00.

Insider Buying and Selling

In related news, Vice Chairman Jason Vanwees sold 3,700 shares of the firm’s 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 completion of the transaction, the insider now owns 51,324 shares in the company, valued at $26,691,559.44. This trade represents a 6.72 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Cynthia Y. Belak sold 5,745 shares of the firm’s stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $508.34, for a total value of $2,920,413.30. Following the transaction, the vice president now owns 4,962 shares of the company’s stock, valued at $2,522,383.08. This trade represents a 53.66 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 34,571 shares of company stock worth $17,709,721 in the last 90 days. 2.14% of the stock is owned by company 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.