Prospera Private Wealth LLC Acquires New Stake in Teledyne Technologies Incorporated (NYSE:TDY)

Prospera Private Wealth LLC acquired a new stake in shares of Teledyne Technologies Incorporated (NYSE:TDY) in the 3rd quarter, Holdings Channel reports. The institutional investor acquired 638 shares of the scientific and technical instruments company’s stock, valued at approximately $279,000.

Other large investors also recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. lifted its stake in Teledyne Technologies by 0.6% during the third quarter. PNC Financial Services Group Inc. now owns 107,515 shares of the scientific and technical instruments company’s stock worth $47,055,000 after purchasing an additional 611 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in Teledyne Technologies during the third quarter worth about $435,000. Pathstone Holdings LLC lifted its stake in Teledyne Technologies by 2.0% during the third quarter. Pathstone Holdings LLC now owns 3,918 shares of the scientific and technical instruments company’s stock worth $1,715,000 after purchasing an additional 77 shares during the last quarter. Baron Wealth Management LLC bought a new stake in Teledyne Technologies during the third quarter worth about $211,000. Finally, Swiss National Bank lifted its stake in Teledyne Technologies by 0.4% during the third quarter. Swiss National Bank now owns 140,818 shares of the scientific and technical instruments company’s stock worth $61,630,000 after purchasing an additional 500 shares during the last quarter. Institutional investors own 91.58% of the company’s stock.

Analyst Ratings Changes

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

Teledyne Technologies Stock Performance

TDY stock opened at $470.45 on Thursday. The stock has a market capitalization of $21.92 billion, a PE ratio of 23.78, a price-to-earnings-growth ratio of 3.26 and a beta of 1.01. Teledyne Technologies Incorporated has a 12-month low of $355.41 and a 12-month high of $492.00. The company has a current ratio of 2.00, a quick ratio of 1.35 and a debt-to-equity ratio of 0.28. The stock’s 50 day simple moving average is $451.85 and its 200 day simple moving average is $420.15.

Teledyne Technologies (NYSE:TDY) last announced its earnings results on Wednesday, October 23rd. The scientific and technical instruments company reported $5.10 earnings per share for the quarter, beating analysts’ consensus estimates of $4.97 by $0.13. The business had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.42 billion. Teledyne Technologies had a net margin of 16.88% and a return on equity of 10.02%. The company’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same period in the previous year, the business earned $5.05 EPS. As a group, research analysts forecast 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 news, Chairman Robert Mehrabian sold 3,925 shares of the company’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $490.50, for a total value of $1,925,212.50. Following the completion of the transaction, the chairman now owns 171,802 shares of the company’s stock, valued at $84,268,881. This represents a 2.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 1.88% of the company’s stock.

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.