Intech Investment Management LLC Buys 4,552 Shares of Teledyne Technologies Incorporated (NYSE:TDY)

Intech Investment Management LLC lifted its stake in shares of Teledyne Technologies Incorporated (NYSE:TDY) by 70.4% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 11,019 shares of the scientific and technical instruments company’s stock after buying an additional 4,552 shares during the period. Intech Investment Management LLC’s holdings in Teledyne Technologies were worth $4,823,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of TDY. Wolff Wiese Magana LLC purchased a new position in shares of Teledyne Technologies during the 3rd quarter worth approximately $27,000. American National Bank bought a new position in Teledyne Technologies in the second quarter worth $28,000. Innealta Capital LLC bought a new position in Teledyne Technologies in the second quarter worth $28,000. Tortoise Investment Management LLC boosted its holdings in shares of 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, Crewe Advisors LLC grew its position in shares of Teledyne Technologies by 319.0% in the 2nd quarter. Crewe Advisors LLC now owns 88 shares of the scientific and technical instruments company’s stock worth $34,000 after buying an additional 67 shares during the period. 91.58% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on TDY shares. Bank of America raised shares of Teledyne Technologies from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $450.00 to $550.00 in a research note on Friday, November 8th. TD Cowen upped their price target on Teledyne Technologies from $450.00 to $500.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Needham & Company LLC lifted their price objective on Teledyne Technologies from $528.00 to $550.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Finally, StockNews.com raised Teledyne Technologies from a “hold” rating to a “buy” rating in a research note on Wednesday, October 2nd. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $517.50.

Insider Transactions at Teledyne Technologies

In related news, Chairman Robert Mehrabian sold 46,075 shares of the firm’s stock in a transaction that occurred on 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 sale, the chairman now 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 sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 2.14% of the company’s stock.

Teledyne Technologies Stock Performance

TDY stock opened at $483.69 on Friday. The stock’s 50 day simple moving average is $453.79 and its 200 day simple moving average is $420.91. The company has a current ratio of 2.00, a quick ratio of 1.35 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 capitalization of $22.54 billion, a PE ratio of 24.45, a price-to-earnings-growth ratio of 3.33 and a beta of 1.01.

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

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.