Tidal Investments LLC Acquires 1,157 Shares of Teledyne Technologies Incorporated (NYSE:TDY)

Tidal Investments LLC raised its holdings in Teledyne Technologies Incorporated (NYSE:TDY) by 26.7% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,486 shares of the scientific and technical instruments company’s stock after purchasing an additional 1,157 shares during the quarter. Tidal Investments LLC’s holdings in Teledyne Technologies were worth $2,401,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of TDY. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in shares of Teledyne Technologies by 0.4% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 131,341 shares of the scientific and technical instruments company’s stock valued at $50,958,000 after buying an additional 586 shares during the last quarter. Raymond James & Associates raised its stake in shares of Teledyne Technologies by 6.1% in the second quarter. Raymond James & Associates now owns 100,752 shares of the scientific and technical instruments company’s stock worth $39,090,000 after acquiring an additional 5,819 shares during the last quarter. Fifth Third Bancorp lifted its position in shares of Teledyne Technologies by 3.5% during the second quarter. Fifth Third Bancorp now owns 8,215 shares of the scientific and technical instruments company’s stock worth $3,187,000 after purchasing an additional 277 shares in the last quarter. Fifth Third Wealth Advisors LLC grew its stake in shares of Teledyne Technologies by 71.5% during the second quarter. Fifth Third Wealth Advisors LLC now owns 861 shares of the scientific and technical instruments company’s stock valued at $334,000 after purchasing an additional 359 shares during the last quarter. Finally, Lecap Asset Management Ltd. acquired a new stake in shares of Teledyne Technologies in the second quarter valued at approximately $2,302,000. Institutional investors and hedge funds own 91.58% of the company’s stock.

Insider Activity 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 shares were sold at an average price of $487.33, for a total transaction of $22,453,729.75. Following the transaction, the chairman now directly owns 171,802 shares of the company’s stock, valued at $83,724,268.66. This trade represents a 21.15 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Michael T. Smith sold 2,025 shares of the company’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $478.25, for a total transaction of $968,456.25. Following the completion of the sale, the director now owns 54,935 shares of the company’s stock, valued at approximately $26,272,663.75. This represents a 3.56 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 52,025 shares of company stock worth $25,347,399. 2.14% of the stock is currently owned by company insiders.

Teledyne Technologies Stock Down 0.8 %

NYSE:TDY opened at $475.05 on Monday. 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 12-month low of $355.41 and a 12-month high of $492.00. The stock’s fifty day simple moving average is $467.79 and its 200-day simple moving average is $430.25. The firm has a market capitalization of $22.14 billion, a P/E ratio of 24.02, a P/E/G ratio of 3.30 and a beta of 1.01.

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 (EPS) for the quarter, topping analysts’ consensus estimates of $4.97 by $0.13. The firm had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.42 billion. Teledyne Technologies had a return on equity of 10.02% and a net margin of 16.88%. The company’s revenue was up 2.9% compared to the same quarter last year. During the same quarter last year, the business earned $5.05 earnings per share. Equities research analysts expect that Teledyne Technologies Incorporated will post 19.45 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have issued reports on TDY. TD Cowen upped their price objective on Teledyne Technologies from $450.00 to $500.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. StockNews.com raised Teledyne Technologies from a “hold” rating to a “buy” rating in a research note on Wednesday, October 2nd. UBS Group initiated coverage on Teledyne Technologies in a report on Tuesday, December 10th. They issued a “buy” rating and a $585.00 price target on the stock. Needham & Company LLC boosted their price objective on Teledyne Technologies from $528.00 to $550.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Finally, Bank of America raised shares of Teledyne Technologies from a “neutral” rating to a “buy” rating and raised their target price for the company from $450.00 to $550.00 in a research note on Friday, November 8th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Teledyne Technologies has a consensus rating of “Buy” and an average price target of $531.00.

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.