Schmidt P J Investment Management Inc. bought a new stake in Teledyne Technologies Incorporated (NYSE:TDY – Free Report) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 4,526 shares of the scientific and technical instruments company’s stock, valued at approximately $2,746,000.
A number of other institutional investors have also recently bought and sold shares of the stock. Trust Co. of Vermont purchased a new position in Teledyne Technologies during the second quarter worth approximately $28,000. Allied Private Wealth LLC acquired a new position in shares of Teledyne Technologies in the 2nd quarter valued at $28,000. Meeder Asset Management Inc. purchased a new stake in shares of Teledyne Technologies during the 1st quarter valued at $27,000. Elevation Wealth Partners LLC grew its stake in shares of Teledyne Technologies by 1,025.0% during the 3rd quarter. Elevation Wealth Partners LLC now owns 45 shares of the scientific and technical instruments company’s stock valued at $27,000 after buying an additional 41 shares during the period. Finally, Pension & Wealth Management Advisors Inc. purchased a new stake in shares of Teledyne Technologies during the 3rd quarter valued at $28,000. 91.58% of the stock is currently owned by hedge funds and other institutional investors.
Insider Activity
In other Teledyne Technologies news, Director Simon Lorne sold 6,449 shares of the company’s stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $680.34, for a total value of $4,387,512.66. Following the transaction, the director directly owned 55,783 shares of the company’s stock, valued at $37,951,406.22. This represents a 10.36% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 1.36% of the stock is currently owned by insiders.
Teledyne Technologies Trading Down 4.8%
NYSE:TDY opened at $631.98 on Thursday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.51 and a current ratio of 2.31. Teledyne Technologies Incorporated has a one year low of $483.02 and a one year high of $697.67. The business’s 50-day simple moving average is $619.58 and its 200 day simple moving average is $634.41. The stock has a market cap of $29.10 billion, a price-to-earnings ratio of 28.88, a price-to-earnings-growth ratio of 2.44 and a beta of 0.89.
Teledyne Technologies (NYSE:TDY – Get Free Report) last issued its quarterly earnings results on Wednesday, October 21st. The scientific and technical instruments company reported $6.72 EPS for the quarter, beating analysts’ consensus estimates of $6.17 by $0.55. Teledyne Technologies had a return on equity of 10.89% and a net margin of 15.75%. The firm had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.65 billion. During the same quarter in the prior year, the business posted $5.57 earnings per share. Teledyne Technologies’s revenue for the quarter was up 9.4% on a year-over-year basis. As a group, sell-side analysts predict that Teledyne Technologies Incorporated will post 25.58 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
A number of analysts have recently commented on the company. Barclays upped their price objective on Teledyne Technologies from $640.00 to $646.00 and gave the stock an “equal weight” rating in a report on Monday, October 26th. Morgan Stanley lifted their target price on Teledyne Technologies from $715.00 to $725.00 and gave the company an “equal weight” rating in a report on Tuesday. Weiss Ratings raised Teledyne Technologies from a “buy (b)” rating to a “buy (b+)” rating in a research report on Thursday, October 29th. Zacks Research downgraded Teledyne Technologies from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 25th. Finally, Stifel Nicolaus upped their price target on Teledyne Technologies from $775.00 to $795.00 and gave the stock a “buy” rating in a research note on Thursday, October 22nd. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $731.83.
Get Our Latest Stock Report on TDY
Teledyne Technologies Profile
Teledyne Technologies Incorporated (NYSE: TDY) is an industrial technology company that develops and manufactures sophisticated electronic, digital imaging, aerospace and defense products. Its offerings are used in commercial, industrial, scientific, government and defense applications where sensing, imaging, measurement and data processing are important.
The company’s businesses include digital imaging sensors and cameras, scientific instruments, environmental and marine monitoring systems, aerospace and defense electronics, communications equipment, data-acquisition systems and engineered components.
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