Advisors Asset Management Inc. Has $3.23 Million Position in Teledyne Technologies Incorporated (NYSE:TDY)

Advisors Asset Management Inc. cut its position in shares of Teledyne Technologies Incorporated (NYSE:TDY) by 4.3% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 7,385 shares of the scientific and technical instruments company’s stock after selling 332 shares during the quarter. Advisors Asset Management Inc.’s holdings in Teledyne Technologies were worth $3,232,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of TDY. Tidal Investments LLC raised its holdings in shares of Teledyne Technologies by 131.5% in the first quarter. Tidal Investments LLC now owns 3,737 shares of the scientific and technical instruments company’s stock valued at $1,604,000 after purchasing an additional 2,123 shares during the last quarter. Royal London Asset Management Ltd. increased its stake in Teledyne Technologies by 11.7% in the 2nd quarter. Royal London Asset Management Ltd. now owns 20,498 shares of the scientific and technical instruments company’s stock valued at $7,953,000 after buying an additional 2,152 shares during the last quarter. Bank of Montreal Can boosted its stake in shares of Teledyne Technologies by 14.2% during the 2nd quarter. Bank of Montreal Can now owns 38,115 shares of the scientific and technical instruments company’s stock worth $14,922,000 after buying an additional 4,731 shares during the last quarter. Congress Asset Management Co. boosted its position in Teledyne Technologies by 0.7% during the third quarter. Congress Asset Management Co. now owns 274,769 shares of the scientific and technical instruments company’s stock valued at $120,255,000 after purchasing an additional 1,805 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. grew its stake in shares of Teledyne Technologies by 147.4% in the second quarter. B. Riley Wealth Advisors Inc. now owns 3,980 shares of the scientific and technical instruments company’s stock valued at $1,544,000 after buying an additional 2,371 shares in the last quarter. 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 the company’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $487.33, for a total transaction of $22,453,729.75. Following the completion of the sale, the chairman now directly owns 171,802 shares in the company, valued at approximately $83,724,268.66. This represents a 21.15 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 2.14% of the stock is currently owned by corporate insiders.

Teledyne Technologies Stock Up 0.7 %

TDY stock opened at $483.69 on Friday. The business’s fifty day moving average price is $454.91 and its two-hundred day moving average price is $421.56. The stock has a market capitalization of $22.54 billion, a price-to-earnings ratio of 24.45, a PEG ratio of 3.33 and a beta of 1.01. Teledyne Technologies Incorporated has a fifty-two week low of $355.41 and a fifty-two week high of $492.00. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.00 and a quick ratio of 1.35.

Teledyne Technologies (NYSE:TDY) last issued its quarterly earnings data on Wednesday, October 23rd. The scientific and technical instruments company reported $5.10 earnings per share for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $1.42 billion. During the same quarter in the previous year, the company earned $5.05 EPS. The business’s revenue was up 2.9% on a year-over-year basis. On average, equities analysts anticipate that Teledyne Technologies Incorporated will post 19.45 earnings per share for the current year.

Wall Street Analyst Weigh In

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

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.