Cinctive Capital Management LP Buys New Holdings in Teledyne Technologies Incorporated (NYSE:TDY)

Cinctive Capital Management LP purchased a new position in shares of Teledyne Technologies Incorporated (NYSE:TDY) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 1,000 shares of the scientific and technical instruments company’s stock, valued at approximately $438,000.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Wolff Wiese Magana LLC purchased a new position in shares of Teledyne Technologies during the third quarter worth $27,000. American National Bank purchased a new position in shares of Teledyne Technologies during the 2nd quarter valued at about $28,000. Innealta Capital LLC acquired a new position in shares of Teledyne Technologies in the 2nd quarter valued at about $28,000. Tortoise Investment Management LLC grew its holdings in Teledyne Technologies by 48.0% during the second quarter. Tortoise Investment Management LLC now owns 74 shares of the scientific and technical instruments company’s stock worth $29,000 after acquiring an additional 24 shares during the period. Finally, Brooklyn Investment Group purchased a new position in Teledyne Technologies during the third quarter valued at approximately $32,000. 91.58% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Teledyne Technologies Stock Performance

TDY opened at $478.52 on Wednesday. The company has a market cap of $22.30 billion, a price-to-earnings ratio of 24.19, a PEG ratio of 3.33 and a beta of 1.01. The firm’s fifty day simple moving average is $461.93 and its two-hundred day simple moving average is $426.11. 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 Incorporated has a 52-week low of $355.41 and a 52-week high of $492.00.

Teledyne Technologies (NYSE:TDY) last posted its quarterly earnings data on Wednesday, October 23rd. The scientific and technical instruments company reported $5.10 earnings per share (EPS) 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 company 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. Teledyne Technologies’s revenue was up 2.9% compared to the same quarter last year. Equities analysts anticipate that Teledyne Technologies Incorporated will post 19.45 earnings per share for the current fiscal year.

Insider Buying and Selling at Teledyne Technologies

In other Teledyne Technologies news, Chairman Robert Mehrabian sold 46,075 shares of the stock in a transaction dated 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 completion of the sale, the chairman now owns 171,802 shares in the company, valued at approximately $83,724,268.66. This represents a 21.15 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.88% of the stock is currently owned by insiders.

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.