Bank of Montreal Can Grows Holdings in Teledyne Technologies Incorporated (NYSE:TDY)

Bank of Montreal Can increased its stake in shares of Teledyne Technologies Incorporated (NYSE:TDY) by 56.8% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 59,771 shares of the scientific and technical instruments company’s stock after purchasing an additional 21,656 shares during the period. Bank of Montreal Can’s holdings in Teledyne Technologies were worth $26,045,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Kayne Anderson Rudnick Investment Management LLC boosted its position in shares of Teledyne Technologies by 17.8% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,238,091 shares of the scientific and technical instruments company’s stock worth $480,355,000 after buying an additional 186,849 shares during the period. Earnest Partners LLC grew its stake 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 worth $154,665,000 after acquiring an additional 13,576 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Teledyne Technologies by 9.4% during the second quarter. Dimensional Fund Advisors LP now owns 375,265 shares of the scientific and technical instruments company’s stock worth $145,594,000 after acquiring an additional 32,339 shares during the period. Sei Investments Co. raised its stake in shares of Teledyne Technologies by 4.4% in the second quarter. Sei Investments Co. now owns 367,770 shares of the scientific and technical instruments company’s stock valued at $142,689,000 after acquiring an additional 15,604 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in Teledyne Technologies by 3.3% in the second quarter. Bank of New York Mellon Corp now owns 300,302 shares of the scientific and technical instruments company’s stock valued at $116,511,000 after purchasing an additional 9,732 shares during the period. Institutional investors and hedge funds own 91.58% of the company’s stock.

Teledyne Technologies Price Performance

Shares of NYSE:TDY opened at $486.14 on Friday. Teledyne Technologies Incorporated has a 12 month low of $355.41 and a 12 month high of $492.00. The firm has a market capitalization of $22.65 billion, a P/E ratio of 24.58, a P/E/G ratio of 3.37 and a beta of 1.01. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.00 and a quick ratio of 1.35. The company’s fifty day moving average price is $460.12 and its 200 day moving average price is $424.70.

Teledyne Technologies (NYSE:TDY) last posted its earnings results on Wednesday, October 23rd. The scientific and technical instruments company reported $5.10 earnings per share for the quarter, beating the consensus estimate of $4.97 by $0.13. The business had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.42 billion. Teledyne Technologies had a return on equity of 10.02% and a net margin of 16.88%. The business’s quarterly revenue was up 2.9% on a year-over-year basis. During the same period in the previous year, the business earned $5.05 EPS. As a group, sell-side analysts predict that Teledyne Technologies Incorporated will post 19.45 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. TD Cowen increased their price target on Teledyne Technologies from $450.00 to $500.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. StockNews.com upgraded shares of Teledyne Technologies from a “hold” rating to a “buy” rating in a report on Wednesday, October 2nd. Bank of America upgraded shares of Teledyne Technologies from a “neutral” rating to a “buy” rating and raised their price objective for the company from $450.00 to $550.00 in a report on Friday, November 8th. Finally, Needham & Company LLC increased their target price on Teledyne Technologies from $528.00 to $550.00 and gave the company a “buy” rating in a report on Monday, November 11th. Five analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $517.50.

Insider Activity

In other news, Chairman Robert Mehrabian sold 46,075 shares of the company’s 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 directly owns 171,802 shares of the company’s stock, valued at approximately $83,724,268.66. This represents a 21.15 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 2.14% of the company’s stock.

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.