Formidable Asset Management LLC purchased a new position in shares of Teledyne Technologies Incorporated (NYSE:TDY – Free Report) during the third quarter, Holdings Channel.com reports. The firm purchased 1,152 shares of the scientific and technical instruments company’s stock, valued at approximately $768,000.
Several other institutional investors and hedge funds have also bought and sold shares of TDY. Parallel Advisors LLC boosted its position in shares of Teledyne Technologies by 5.9% during the 3rd quarter. Parallel Advisors LLC now owns 701 shares of the scientific and technical instruments company’s stock worth $425,000 after purchasing an additional 39 shares in the last quarter. Guidance Capital Inc. lifted its stake in shares of Teledyne Technologies by 2.1% in the third quarter. Guidance Capital Inc. now owns 2,098 shares of the scientific and technical instruments company’s stock valued at $1,384,000 after buying an additional 43 shares in the last quarter. CenterBook Partners LP lifted its stake in shares of Teledyne Technologies by 274.3% in the third quarter. CenterBook Partners LP now owns 2,508 shares of the scientific and technical instruments company’s stock valued at $1,522,000 after buying an additional 1,838 shares in the last quarter. Kestra Advisory Services LLC lifted its stake in shares of Teledyne Technologies by 11.2% in the third quarter. Kestra Advisory Services LLC now owns 3,784 shares of the scientific and technical instruments company’s stock valued at $2,296,000 after buying an additional 382 shares in the last quarter. Finally, Inscription Capital LLC bought a new stake in shares of Teledyne Technologies during the third quarter worth about $291,000. 91.58% of the stock is owned by institutional investors.
Teledyne Technologies Trading Down 0.1%
Shares of TDY stock opened at $617.89 on Monday. Teledyne Technologies Incorporated has a 1 year low of $483.02 and a 1 year high of $697.67. The company’s fifty day simple moving average is $618.57 and its two-hundred day simple moving average is $634.72. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.31 and a quick ratio of 1.51. The stock has a market capitalization of $28.45 billion, a price-to-earnings ratio of 28.24, a PEG ratio of 2.28 and a beta of 0.89.
Teledyne Technologies (NYSE:TDY – Get Free Report) last issued its earnings results on Wednesday, October 21st. The scientific and technical instruments company reported $6.72 EPS for the quarter, topping the consensus estimate of $6.17 by $0.55. Teledyne Technologies had a return on equity of 10.89% and a net margin of 15.75%. The business had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.65 billion. During the same quarter last year, the company earned $5.57 EPS. The firm’s revenue was up 9.4% compared to the same quarter last year. As a group, analysts anticipate that Teledyne Technologies Incorporated will post 25.58 earnings per share for the current year.
Insider Activity
In related news, Director Simon Lorne sold 6,449 shares of the business’s stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $680.34, for a total transaction of $4,387,512.66. Following the completion of the transaction, the director directly owned 55,783 shares in the company, valued at $37,951,406.22. The trade was a 10.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.36% of the company’s stock.
Analyst Ratings Changes
TDY has been the topic of several analyst reports. 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 research report on Tuesday, November 3rd. Zacks Research downgraded shares of Teledyne Technologies from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 25th. Barclays upped their price objective on shares of Teledyne Technologies from $640.00 to $646.00 and gave the stock an “equal weight” rating in a research report on Monday, October 26th. Needham & Company LLC upped their target price on Teledyne Technologies from $760.00 to $775.00 and gave the company a “buy” rating in a report on Friday, October 23rd. Finally, Stifel Nicolaus raised their target price on Teledyne Technologies from $775.00 to $795.00 and gave the company a “buy” rating in a research report on Thursday, October 22nd. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Teledyne Technologies currently has an average rating of “Moderate Buy” and an average price target of $731.83.
View Our Latest Research Report on Teledyne Technologies
About Teledyne Technologies
Teledyne Technologies is an industrial technology company that develops and manufactures instrumentation, digital imaging products, aerospace and defense electronics, and engineered systems. Its products and services support applications including environmental monitoring, marine research, scientific imaging, and industrial inspection.
The company’s businesses include sensors and monitoring instruments, cameras and imaging systems, electronic components, and specialized engineering and manufacturing services.
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