Ascent Group LLC Sells 5,597 Shares of Teledyne Technologies Incorporated (NYSE:TDY)

Ascent Group LLC decreased its position in shares of Teledyne Technologies Incorporated (NYSE:TDY) by 85.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 938 shares of the scientific and technical instruments company’s stock after selling 5,597 shares during the period. Ascent Group LLC’s holdings in Teledyne Technologies were worth $411,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wolff Wiese Magana LLC bought a new stake in Teledyne Technologies during the 3rd quarter worth approximately $27,000. American National Bank bought a new stake in Teledyne Technologies during the 2nd quarter worth approximately $28,000. Innealta Capital LLC purchased a new stake in Teledyne Technologies during the 2nd quarter valued at approximately $28,000. Tortoise Investment Management LLC grew its holdings in Teledyne Technologies by 48.0% during the 2nd quarter. Tortoise Investment Management LLC now owns 74 shares of the scientific and technical instruments company’s stock valued at $29,000 after buying an additional 24 shares in the last quarter. Finally, Brooklyn Investment Group purchased a new stake in Teledyne Technologies during the 3rd quarter valued at approximately $32,000. Institutional investors own 91.58% of the company’s stock.

Insider Transactions at Teledyne Technologies

In other 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 transaction of $22,453,729.75. Following the completion of the sale, the chairman now directly owns 171,802 shares in the company, valued at approximately $83,724,268.66. This trade represents a 21.15 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.88% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. TD Cowen increased their price objective on shares of Teledyne Technologies from $450.00 to $500.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Bank of America raised shares of Teledyne Technologies from a “neutral” rating to a “buy” rating and increased their price objective for the company from $450.00 to $550.00 in a report on Friday, November 8th. Needham & Company LLC increased 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. Finally, StockNews.com raised shares of Teledyne Technologies from a “hold” rating to a “buy” rating in a report on Wednesday, October 2nd. Five research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $517.50.

Teledyne Technologies Stock Up 0.1 %

NYSE TDY opened at $478.89 on Thursday. The company has a quick ratio of 1.35, a current ratio of 2.00 and a debt-to-equity ratio of 0.28. The company has a fifty day moving average of $462.84 and a two-hundred day moving average of $426.47. The firm has a market capitalization of $22.32 billion, a price-to-earnings ratio of 24.21, a PEG ratio of 3.33 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.

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 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 during the quarter, compared to the consensus estimate of $1.42 billion. During the same period last year, the company earned $5.05 earnings per share. The business’s revenue for the quarter was up 2.9% compared to the same quarter last year. On average, analysts predict that Teledyne Technologies Incorporated will post 19.45 earnings per share for the current year.

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.