Trybe Capital Management LP Invests $8.17 Million in Teledyne Technologies Incorporated (NYSE:TDY)
Trybe Capital Management LP acquired a new position in Teledyne Technologies Incorporated (NYSE:TDY – Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 19,863 shares of the scientific and technical instruments company’s stock, valued at approximately $8,166,000. Teledyne Technologies comprises about 2.8% of Trybe Capital Management LP’s holdings, making the stock its 11th largest holding.
A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. grew its position in shares of Teledyne Technologies by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 5,098,739 shares of the scientific and technical instruments company’s stock worth $2,409,817,000 after buying an additional 64,262 shares during the last quarter. BlackRock Inc. grew its position in Teledyne Technologies by 5.4% during the 2nd quarter. BlackRock Inc. now owns 3,856,247 shares of the scientific and technical instruments company’s stock worth $1,585,342,000 after purchasing an additional 196,915 shares during the last quarter. T. Rowe Price Investment Management Inc. grew its position in Teledyne Technologies by 2.3% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 2,717,685 shares of the scientific and technical instruments company’s stock worth $1,086,830,000 after purchasing an additional 60,379 shares during the last quarter. State Street Corp grew its position in Teledyne Technologies by 2.7% during the 1st quarter. State Street Corp now owns 1,894,981 shares of the scientific and technical instruments company’s stock worth $847,739,000 after purchasing an additional 50,307 shares during the last quarter. Finally, Envestnet Asset Management Inc. grew its position in Teledyne Technologies by 2,240.6% during the 1st quarter. Envestnet Asset Management Inc. now owns 1,465,581 shares of the scientific and technical instruments company’s stock worth $26,033,000 after purchasing an additional 1,402,965 shares during the last quarter. Hedge funds and other institutional investors own 87.57% of the company’s stock.
Insider Activity at Teledyne Technologies
In related news, Director Schack Wesley W. Von sold 376 shares of the company’s stock in a transaction dated Thursday, September 14th. The shares were sold at an average price of $412.30, for a total value of $155,024.80. Following the completion of the sale, the director now owns 11,967 shares of the company’s stock, valued at $4,933,994.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Teledyne Technologies news, Director Michael T. Smith sold 1,071 shares of the company’s stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $395.00, for a total value of $423,045.00. Following the transaction, the director now owns 56,492 shares of the company’s stock, valued at $22,314,340. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Schack Wesley W. Von sold 376 shares of the company’s stock in a transaction dated Thursday, September 14th. The shares were sold at an average price of $412.30, for a total transaction of $155,024.80. Following the completion of the transaction, the director now directly owns 11,967 shares in the company, valued at approximately $4,933,994.10. The disclosure for this sale can be found here. Over the last quarter, insiders sold 3,447 shares of company stock valued at $1,391,610. 2.14% of the stock is owned by company insiders.
Teledyne Technologies Price Performance
Shares of Teledyne Technologies stock traded down $4.95 during trading hours on Tuesday, reaching $404.63. 11,018 shares of the company’s stock were exchanged, compared to its average volume of 239,598. Teledyne Technologies Incorporated has a 1 year low of $364.98 and a 1 year high of $448.71. The company has a market capitalization of $19.09 billion, a P/E ratio of 24.83, a price-to-earnings-growth ratio of 2.64 and a beta of 1.01. The business has a fifty day moving average of $393.53 and a two-hundred day moving average of $400.35. The company has a quick ratio of 1.10, a current ratio of 1.68 and a debt-to-equity ratio of 0.32.
Teledyne Technologies (NYSE:TDY – Get Free Report) last released its earnings results on Wednesday, October 25th. The scientific and technical instruments company reported $5.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.76 by $0.29. Teledyne Technologies had a net margin of 14.02% and a return on equity of 10.86%. The business had revenue of $1.40 billion during the quarter, compared to analyst estimates of $1.43 billion. During the same quarter in the prior year, the firm earned $4.54 earnings per share. The company’s revenue for the quarter was up 2.9% compared to the same quarter last year. As a group, research analysts predict that Teledyne Technologies Incorporated will post 19.31 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
TDY has been the topic of several research analyst reports. StockNews.com downgraded shares of Teledyne Technologies from a “buy” rating to a “hold” rating in a research report on Tuesday, November 28th. Needham & Company LLC restated a “buy” rating and set a $455.00 price objective on shares of Teledyne Technologies in a research note on Tuesday, October 24th. UBS Group assumed coverage on shares of Teledyne Technologies in a research note on Wednesday, September 27th. They set a “buy” rating and a $495.00 price objective for the company. BNP Paribas assumed coverage on shares of Teledyne Technologies in a research note on Thursday, October 5th. They set an “outperform” rating and a $530.00 price objective for the company. Finally, The Goldman Sachs Group upgraded shares of Teledyne Technologies from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $423.00 to $495.00 in a research note on Monday, August 14th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Teledyne Technologies has a consensus rating of “Moderate Buy” and an average target price of $503.86.
View Our Latest Analysis on TDY
About Teledyne Technologies (Free Report)
Teledyne Technologies Incorporated, together with its subsidiaries, provides enabling technologies for industrial growth markets in the United States, Canada, the United Kingdom, France, and internationally. The company’s Instrumentation segment offers monitoring and control instruments for marine, environmental, industrial, and other applications, as well as electronic test and measurement equipment; and power and communications connectivity devices for distributed instrumentation systems and sensor networks.
Further Reading
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