Raymond James & Associates lessened its position in Teledyne Technologies Incorporated (NYSE:TDY – Free Report) by 23.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 72,292 shares of the scientific and technical instruments company’s stock after selling 22,715 shares during the quarter. Raymond James & Associates owned about 0.15% of Teledyne Technologies worth $29,720,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also made changes to their positions in TDY. Envestnet Asset Management Inc. lifted its position in shares of Teledyne Technologies by 2,240.6% in the first quarter. Envestnet Asset Management Inc. now owns 1,465,581 shares of the scientific and technical instruments company’s stock valued at $26,033,000 after acquiring an additional 1,402,965 shares in the last quarter. Norges Bank purchased a new position in shares of Teledyne Technologies in the fourth quarter valued at approximately $166,954,000. Durable Capital Partners LP purchased a new position in shares of Teledyne Technologies in the first quarter valued at approximately $140,332,000. 1832 Asset Management L.P. lifted its position in shares of Teledyne Technologies by 262.9% in the first quarter. 1832 Asset Management L.P. now owns 184,700 shares of the scientific and technical instruments company’s stock valued at $82,627,000 after acquiring an additional 133,800 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its position in shares of Teledyne Technologies by 60.4% in the first quarter. Goldman Sachs Group Inc. now owns 337,996 shares of the scientific and technical instruments company’s stock valued at $159,746,000 after acquiring an additional 127,218 shares in the last quarter. Hedge funds and other institutional investors own 87.57% of the company’s stock.
Analyst Ratings Changes
TDY has been the topic of several research reports. BNP Paribas initiated coverage on Teledyne Technologies in a research report on Thursday, October 5th. They issued an “outperform” rating and a $530.00 target price on the stock. The Goldman Sachs Group upgraded Teledyne Technologies from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $423.00 to $495.00 in a research report on Monday, August 14th. Needham & Company LLC reduced their price objective on Teledyne Technologies from $470.00 to $455.00 and set a “buy” rating on the stock in a research report on Thursday, July 27th. UBS Group initiated coverage on Teledyne Technologies in a research report on Wednesday, September 27th. They set a “buy” rating and a $495.00 price objective on the stock. Finally, StockNews.com initiated coverage on Teledyne Technologies in a research report on Thursday, October 5th. They set a “hold” rating on the stock. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $503.86.
View Our Latest Research Report on Teledyne Technologies
Insider Activity
In other news, Director Schack Wesley W. Von sold 376 shares of Teledyne Technologies stock in a transaction on Thursday, September 14th. The stock was 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 directly 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 this link. In other news, Director Schack Wesley W. Von sold 376 shares of Teledyne Technologies stock in a transaction on Thursday, September 14th. The stock was 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 directly 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 this link. Also, CEO Robert Mehrabian sold 45,500 shares of Teledyne Technologies stock in a transaction on Tuesday, August 29th. The shares were sold at an average price of $416.13, for a total value of $18,933,915.00. Following the completion of the sale, the chief executive officer now directly owns 196,052 shares of the company’s stock, valued at $81,583,118.76. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 61,646 shares of company stock valued at $25,717,295. 2.14% of the stock is currently owned by corporate insiders.
Teledyne Technologies Price Performance
TDY stock opened at $406.97 on Friday. The business has a fifty day moving average of $407.02 and a two-hundred day moving average of $409.87. The company has a quick ratio of 1.02, a current ratio of 1.62 and a debt-to-equity ratio of 0.34. The stock has a market cap of $19.16 billion, a price-to-earnings ratio of 25.31, a price-to-earnings-growth ratio of 3.38 and a beta of 1.02. Teledyne Technologies Incorporated has a 52-week low of $325.00 and a 52-week high of $448.71.
Teledyne Technologies (NYSE:TDY – Get Free Report) last posted its earnings results on Wednesday, July 26th. The scientific and technical instruments company reported $4.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.63 by $0.04. The company had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.41 billion. Teledyne Technologies had a return on equity of 10.90% and a net margin of 13.75%. The firm’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same quarter last year, the firm earned $4.43 earnings per share. As a group, research analysts anticipate that Teledyne Technologies Incorporated will post 19.11 earnings per share for the current year.
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.
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