Caisse DE Depot ET Placement DU Quebec Increases Stock Holdings in Teledyne Technologies Incorporated (NYSE:TDY)

Caisse DE Depot ET Placement DU Quebec grew its holdings in Teledyne Technologies Incorporated (NYSE:TDY) by 11.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 288,826 shares of the scientific and technical instruments company’s stock after acquiring an additional 28,979 shares during the quarter. Caisse DE Depot ET Placement DU Quebec’s holdings in Teledyne Technologies were worth $126,408,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of TDY. Tidal Investments LLC raised its stake in shares of Teledyne Technologies by 131.5% during the 1st quarter. Tidal Investments LLC now owns 3,737 shares of the scientific and technical instruments company’s stock valued at $1,604,000 after buying an additional 2,123 shares during the last quarter. Royal London Asset Management Ltd. raised its position in Teledyne Technologies by 11.7% during the second quarter. Royal London Asset Management Ltd. now owns 20,498 shares of the scientific and technical instruments company’s stock valued at $7,953,000 after acquiring an additional 2,152 shares in the last quarter. Bank of Montreal Can boosted its position in Teledyne Technologies by 14.2% in the 2nd quarter. Bank of Montreal Can now owns 38,115 shares of the scientific and technical instruments company’s stock worth $14,922,000 after purchasing an additional 4,731 shares in the last quarter. Congress Asset Management Co. increased its holdings in shares of Teledyne Technologies by 0.7% during the 3rd quarter. Congress Asset Management Co. now owns 274,769 shares of the scientific and technical instruments company’s stock valued at $120,255,000 after purchasing an additional 1,805 shares in the last quarter. Finally, ING Groep NV purchased a new stake in Teledyne Technologies during the third quarter worth $1,064,000. Hedge funds and other institutional investors own 91.58% of the company’s stock.

Insiders Place Their Bets

In related news, Chairman Robert Mehrabian sold 46,075 shares of the company’s stock in a transaction that occurred 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 transaction, the chairman now directly owns 171,802 shares in the company, valued at approximately $83,724,268.66. This represents a 21.15 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 2.14% of the stock is owned by insiders.

Analyst Ratings Changes

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

Teledyne Technologies Price Performance

Shares of NYSE TDY opened at $486.14 on Friday. The stock has a market capitalization of $22.65 billion, a price-to-earnings ratio of 24.58, a price-to-earnings-growth ratio of 3.37 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 firm has a 50-day simple moving average of $460.12 and a 200-day simple moving average of $424.70. 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 issued its earnings results on Wednesday, October 23rd. The scientific and technical instruments company reported $5.10 earnings per share for the quarter, topping the consensus estimate of $4.97 by $0.13. Teledyne Technologies had a return on equity of 10.02% and a net margin of 16.88%. The business had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.42 billion. During the same period in the previous year, the firm posted $5.05 EPS. The business’s revenue for the quarter was up 2.9% compared to the same quarter last year. On average, equities analysts predict that Teledyne Technologies Incorporated will post 19.45 earnings per share for the current fiscal year.

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.