Cardinal Capital Management Raises Holdings in Teledyne Technologies Incorporated (NYSE:TDY)

Cardinal Capital Management boosted its stake in shares of Teledyne Technologies Incorporated (NYSE:TDY) by 0.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,389 shares of the scientific and technical instruments company’s stock after buying an additional 43 shares during the quarter. Cardinal Capital Management’s holdings in Teledyne Technologies were worth $3,429,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Stratos Wealth Partners LTD. lifted its position in shares of Teledyne Technologies by 4.4% during the 4th quarter. Stratos Wealth Partners LTD. now owns 500 shares of the scientific and technical instruments company’s stock worth $232,000 after purchasing an additional 21 shares during the last quarter. Metis Global Partners LLC lifted its holdings in Teledyne Technologies by 1.6% during the 3rd quarter. Metis Global Partners LLC now owns 1,514 shares of the scientific and technical instruments company’s stock worth $663,000 after buying an additional 24 shares during the last quarter. Crumly & Associates Inc. boosted its position in shares of Teledyne Technologies by 3.8% during the 3rd quarter. Crumly & Associates Inc. now owns 677 shares of the scientific and technical instruments company’s stock worth $296,000 after acquiring an additional 25 shares in the last quarter. Raymond James Trust N.A. increased its holdings in shares of Teledyne Technologies by 4.8% in the 3rd quarter. Raymond James Trust N.A. now owns 550 shares of the scientific and technical instruments company’s stock valued at $241,000 after acquiring an additional 25 shares during the last quarter. Finally, Bleakley Financial Group LLC raised its position in shares of Teledyne Technologies by 4.0% during the 3rd quarter. Bleakley Financial Group LLC now owns 681 shares of the scientific and technical instruments company’s stock worth $298,000 after acquiring an additional 26 shares in the last quarter. 91.58% of the stock is currently owned by institutional investors and hedge funds.

Teledyne Technologies Stock Performance

Shares of TDY stock opened at $489.74 on Tuesday. Teledyne Technologies Incorporated has a 52-week low of $355.41 and a 52-week high of $522.50. The stock’s 50-day moving average price is $483.38 and its 200 day moving average price is $459.01. The company has a quick ratio of 1.61, a current ratio of 2.33 and a debt-to-equity ratio of 0.28. The stock has a market capitalization of $22.82 billion, a PE ratio of 28.42, a price-to-earnings-growth ratio of 3.19 and a beta of 1.03.

Teledyne Technologies (NYSE:TDY) last released its quarterly earnings results on Wednesday, January 22nd. The scientific and technical instruments company reported $5.52 EPS for the quarter, topping the consensus estimate of $5.23 by $0.29. Teledyne Technologies had a return on equity of 9.94% and a net margin of 14.45%. The business had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.45 billion. During the same quarter in the prior year, the business earned $5.44 earnings per share. The company’s quarterly revenue was up 5.4% compared to the same quarter last year. As a group, equities research analysts forecast that Teledyne Technologies Incorporated will post 21.59 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have weighed in on TDY shares. Bank of America raised shares of Teledyne Technologies from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $450.00 to $550.00 in a report on Friday, November 8th. Needham & Company LLC restated a “buy” rating and issued a $585.00 price objective on shares of Teledyne Technologies in a research note on Wednesday, February 5th. UBS Group assumed coverage on Teledyne Technologies in a research report on Tuesday, December 10th. They set a “buy” rating and a $585.00 target price on the stock. Finally, TD Cowen upped their target price on Teledyne Technologies from $450.00 to $500.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Teledyne Technologies has a consensus rating of “Buy” and a consensus target price of $538.00.

Insider Activity

In related news, Director Michael T. Smith sold 2,025 shares of the firm’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $478.25, for a total value of $968,456.25. Following the completion of the sale, the director now owns 54,935 shares in the company, valued at $26,272,663.75. This trade represents a 3.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Melanie Susan Cibik sold 2,538 shares of the company’s stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $513.02, for a total transaction of $1,302,044.76. Following the transaction, the executive vice president now owns 32,100 shares in the company, valued at $16,467,942. The trade was a 7.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 32,190 shares of company stock valued at $16,386,864 over the last quarter. Corporate insiders own 2.14% of the company’s stock.

Teledyne Technologies 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.