Teledyne Technologies Incorporated (NYSE:TDY) Position Reduced by Simmons Bank

Simmons Bank lowered its stake in Teledyne Technologies Incorporated (NYSE:TDY) by 5.0% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 660 shares of the scientific and technical instruments company’s stock after selling 35 shares during the period. Simmons Bank’s holdings in Teledyne Technologies were worth $289,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings in shares of Teledyne Technologies by 0.3% in the first quarter. Vanguard Group Inc. now owns 5,534,111 shares of the scientific and technical instruments company’s stock valued at $2,375,905,000 after buying an additional 16,189 shares in the last quarter. Janus Henderson Group PLC increased its holdings in shares of Teledyne Technologies by 3.2% in the first quarter. Janus Henderson Group PLC now owns 1,574,679 shares of the scientific and technical instruments company’s stock valued at $676,041,000 after buying an additional 48,397 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC increased its holdings in shares of Teledyne Technologies by 17.8% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,238,091 shares of the scientific and technical instruments company’s stock valued at $480,355,000 after buying an additional 186,849 shares in the last quarter. Earnest Partners LLC increased its holdings in shares of Teledyne Technologies by 3.5% in the second quarter. Earnest Partners LLC now owns 398,642 shares of the scientific and technical instruments company’s stock valued at $154,665,000 after buying an additional 13,576 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Teledyne Technologies by 9.4% in the second quarter. Dimensional Fund Advisors LP now owns 375,265 shares of the scientific and technical instruments company’s stock valued at $145,594,000 after buying an additional 32,339 shares in the last quarter. Institutional investors own 91.58% of the company’s stock.

Teledyne Technologies Trading Down 2.1 %

Teledyne Technologies stock opened at $476.56 on Friday. The company’s fifty day simple moving average is $448.38 and its 200-day simple moving average is $417.49. 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 has a market cap of $22.21 billion, a P/E ratio of 24.09, a P/E/G ratio of 3.38 and a beta of 1.01.

Teledyne Technologies (NYSE:TDY) last posted its quarterly earnings results on Wednesday, October 23rd. The scientific and technical instruments company reported $5.10 EPS for the quarter, beating the consensus estimate of $4.97 by $0.13. Teledyne Technologies had a net margin of 16.88% and a return on equity of 10.02%. 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 company posted $5.05 EPS. Teledyne Technologies’s revenue was up 2.9% on a year-over-year basis. As a group, sell-side analysts forecast that Teledyne Technologies Incorporated will post 19.44 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Chairman Robert Mehrabian sold 3,925 shares of the company’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $490.50, for a total value of $1,925,212.50. Following the completion of the sale, the chairman now directly owns 171,802 shares in the company, valued at approximately $84,268,881. This represents a 2.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 2.14% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on TDY. Vertical Research began coverage on shares of Teledyne Technologies in a research note on Tuesday, July 23rd. They set a “buy” rating and a $470.00 target price on the stock. Needham & Company LLC boosted their target price on shares of Teledyne Technologies from $528.00 to $550.00 and gave the company a “buy” rating in a research note on Monday. StockNews.com raised shares of Teledyne Technologies from a “hold” rating to a “buy” rating in a research note on Wednesday, October 2nd. Bank of America raised shares of Teledyne Technologies from a “neutral” rating to a “buy” rating and boosted their target price for the company from $450.00 to $550.00 in a research note on Friday, November 8th. Finally, 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. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, Teledyne Technologies currently has an average rating of “Buy” and an average target price of $517.50.

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.