Teledyne Technologies Incorporated (NYSE:TDY) Position Increased by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. lifted its position in Teledyne Technologies Incorporated (NYSE:TDY) by 7.6% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 7,833 shares of the scientific and technical instruments company’s stock after buying an additional 551 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Teledyne Technologies were worth $3,428,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. Wolff Wiese Magana LLC purchased a new position in Teledyne Technologies during the 3rd quarter worth approximately $27,000. American National Bank purchased a new position in shares of Teledyne Technologies during the second quarter valued at $28,000. Innealta Capital LLC acquired a new position in Teledyne Technologies during the second quarter valued at $28,000. Tortoise Investment Management LLC lifted its stake in Teledyne Technologies by 48.0% in the 2nd quarter. Tortoise Investment Management LLC now owns 74 shares of the scientific and technical instruments company’s stock worth $29,000 after acquiring an additional 24 shares in the last quarter. Finally, Crewe Advisors LLC boosted its position in Teledyne Technologies by 319.0% during the 2nd quarter. Crewe Advisors LLC now owns 88 shares of the scientific and technical instruments company’s stock worth $34,000 after acquiring an additional 67 shares during the period. Institutional investors and hedge funds own 91.58% of the company’s stock.

Teledyne Technologies Price Performance

NYSE TDY opened at $485.68 on Thursday. The company has a 50 day moving average price of $458.07 and a two-hundred day moving average price of $423.61. 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 $22.63 billion, a PE ratio of 24.55, a price-to-earnings-growth ratio of 3.31 and a beta of 1.01. 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 (NYSE:TDY) last released its quarterly earnings data on Wednesday, October 23rd. The scientific and technical instruments company reported $5.10 earnings per share (EPS) 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 analyst estimates of $1.42 billion. Teledyne Technologies had a net margin of 16.88% and a return on equity of 10.02%. Teledyne Technologies’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $5.05 EPS. As a group, equities analysts predict that Teledyne Technologies Incorporated will post 19.45 earnings per share for the current fiscal year.

Insider Transactions at Teledyne Technologies

In related news, Chairman Robert Mehrabian sold 46,075 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was 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 in the company, valued at approximately $83,724,268.66. The trade was a 21.15 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.88% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

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

Teledyne Technologies Company 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.