Teledyne Technologies Incorporated (NYSE:TDY) Shares Bought by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. increased its holdings in Teledyne Technologies Incorporated (NYSE:TDY) by 0.6% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 107,515 shares of the scientific and technical instruments company’s stock after buying an additional 611 shares during the period. PNC Financial Services Group Inc.’s holdings in Teledyne Technologies were worth $47,055,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. B. Metzler seel. Sohn & Co. Holding AG bought a new position in Teledyne Technologies in the third quarter worth about $435,000. Pathstone Holdings LLC raised its position in shares of Teledyne Technologies by 2.0% during the 3rd quarter. Pathstone Holdings LLC now owns 3,918 shares of the scientific and technical instruments company’s stock worth $1,715,000 after purchasing an additional 77 shares during the period. Baron Wealth Management LLC bought a new stake in shares of Teledyne Technologies in the 3rd quarter worth approximately $211,000. Swiss National Bank boosted its position in Teledyne Technologies by 0.4% during the 3rd quarter. Swiss National Bank now owns 140,818 shares of the scientific and technical instruments company’s stock valued at $61,630,000 after purchasing an additional 500 shares during the period. Finally, Mutual of America Capital Management LLC grew its stake in Teledyne Technologies by 5.1% during the 3rd quarter. Mutual of America Capital Management LLC now owns 15,988 shares of the scientific and technical instruments company’s stock worth $6,997,000 after buying an additional 777 shares during the last quarter. Institutional investors own 91.58% of the company’s stock.

Teledyne Technologies Stock Up 1.2 %

TDY stock opened at $470.45 on Thursday. The firm’s 50-day moving average is $451.85 and its two-hundred day moving average is $420.15. The company has a market capitalization of $21.92 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 52 week low of $355.41 and a 52 week high of $492.00. The company has a current ratio of 2.00, a quick ratio of 1.35 and a debt-to-equity ratio of 0.28.

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

Wall Street Analysts Forecast Growth

TDY has been the topic of a number of recent research reports. Needham & Company LLC raised their target price on Teledyne Technologies from $528.00 to $550.00 and gave the company a “buy” rating in a research note on Monday, November 11th. TD Cowen boosted their target price on shares of Teledyne Technologies from $450.00 to $500.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. StockNews.com upgraded shares of Teledyne Technologies from a “hold” rating to a “buy” rating in a research note on Wednesday, October 2nd. Finally, Bank of America upgraded Teledyne Technologies from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $450.00 to $550.00 in a research report on Friday, November 8th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $517.50.

Insider Activity at Teledyne Technologies

In other Teledyne Technologies news, Chairman Robert Mehrabian sold 46,075 shares of Teledyne Technologies stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $487.33, for a total value of $22,453,729.75. Following the transaction, the chairman now owns 171,802 shares in the company, valued at approximately $83,724,268.66. The trade was a 21.15 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 1.88% of the company’s stock.

Teledyne Technologies Company 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.