EULAV Asset Management Sells 12,800 Shares of Teledyne Technologies Incorporated (NYSE:TDY)

EULAV Asset Management cut its holdings in shares of Teledyne Technologies Incorporated (NYSE:TDY) by 34.6% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 24,200 shares of the scientific and technical instruments company’s stock after selling 12,800 shares during the period. EULAV Asset Management’s holdings in Teledyne Technologies were worth $10,591,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of TDY. Prospera Private Wealth LLC acquired a new position in Teledyne Technologies in the third quarter valued at approximately $279,000. PNC Financial Services Group Inc. grew its stake in shares of Teledyne Technologies by 0.6% during the third quarter. PNC Financial Services Group Inc. now owns 107,515 shares of the scientific and technical instruments company’s stock worth $47,055,000 after purchasing an additional 611 shares during the period. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in Teledyne Technologies in the third quarter valued at about $435,000. Pathstone Holdings LLC lifted its stake in Teledyne Technologies by 2.0% in the third quarter. Pathstone Holdings LLC now owns 3,918 shares of the scientific and technical instruments company’s stock valued at $1,715,000 after buying an additional 77 shares during the period. Finally, Baron Wealth Management LLC acquired a new position in shares of Teledyne Technologies during the 3rd quarter worth about $211,000. Institutional investors own 91.58% of the company’s stock.

Teledyne Technologies Stock Down 0.2 %

NYSE:TDY opened at $464.84 on Wednesday. The firm has a market capitalization of $21.66 billion, a price-to-earnings ratio of 23.50, a price-to-earnings-growth ratio of 3.26 and a beta of 1.01. Teledyne Technologies Incorporated has a twelve month low of $355.41 and a twelve month high of $492.00. The stock’s 50 day moving average price is $451.10 and its two-hundred day moving average price is $419.59. The company has a quick ratio of 1.35, a current ratio of 2.00 and a debt-to-equity ratio of 0.28.

Teledyne Technologies (NYSE:TDY) last released its quarterly earnings results on Wednesday, October 23rd. The scientific and technical instruments company reported $5.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.97 by $0.13. The business had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.42 billion. Teledyne Technologies had a return on equity of 10.02% and a net margin of 16.88%. The firm’s quarterly revenue was up 2.9% on a year-over-year basis. During the same period in the previous year, the company posted $5.05 EPS. Equities research analysts expect that Teledyne Technologies Incorporated will post 19.45 earnings per share for the current fiscal year.

Insider Activity at Teledyne Technologies

In other Teledyne Technologies news, Chairman Robert Mehrabian sold 46,075 shares of Teledyne Technologies stock in a transaction on Monday, November 11th. The stock was sold at an average price of $487.33, for a total value of $22,453,729.75. Following the completion of the transaction, the chairman now directly owns 171,802 shares of the company’s stock, valued at $83,724,268.66. The trade was a 21.15 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.88% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

TDY has been the subject of several recent analyst reports. StockNews.com raised shares of Teledyne Technologies from a “hold” rating to a “buy” rating in a research note on Wednesday, October 2nd. Bank of America upgraded Teledyne Technologies from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $450.00 to $550.00 in a report on Friday, November 8th. TD Cowen increased their target price on Teledyne Technologies from $450.00 to $500.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Needham & Company LLC upped their price target on shares of Teledyne Technologies from $528.00 to $550.00 and gave the company a “buy” rating in a report on Monday, November 11th. Finally, Vertical Research started coverage on Teledyne Technologies in a report on Tuesday, July 23rd. They set a “buy” rating and a $470.00 price objective for the company. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $517.50.

About Teledyne Technologies

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.