Weiss Asset Management LP Invests $2.90 Million in Teledyne Technologies Incorporated (NYSE:TDY)

Weiss Asset Management LP purchased a new stake in Teledyne Technologies Incorporated (NYSE:TDY) in the third quarter, Holdings Channel reports. The firm purchased 6,632 shares of the scientific and technical instruments company’s stock, valued at approximately $2,903,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Wolff Wiese Magana LLC purchased a new stake in shares of Teledyne Technologies in the 3rd quarter worth approximately $27,000. American National Bank purchased a new stake in Teledyne Technologies during the second quarter worth $28,000. Innealta Capital LLC bought a new stake in Teledyne Technologies during the 2nd quarter valued at $28,000. Tortoise Investment Management LLC increased its holdings in shares of 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 valued at $29,000 after acquiring an additional 24 shares during the period. Finally, Brooklyn Investment Group bought a new position in shares of Teledyne Technologies in the 3rd quarter worth $32,000. Institutional investors own 91.58% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on TDY shares. Bank of America raised 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 research report on Friday, November 8th. StockNews.com upgraded shares of Teledyne Technologies from a “hold” rating to a “buy” rating in a report on Wednesday, October 2nd. TD Cowen boosted their price objective 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. Finally, Needham & Company LLC raised their target price on shares of Teledyne Technologies from $528.00 to $550.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $517.50.

Insiders Place Their Bets

In other Teledyne Technologies news, Chairman Robert Mehrabian sold 46,075 shares of the stock in a transaction dated 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 sale, the chairman now directly owns 171,802 shares of the company’s stock, valued at approximately $83,724,268.66. This trade represents a 21.15 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 2.14% of the stock is currently owned by insiders.

Teledyne Technologies Trading Down 0.7 %

NYSE TDY opened at $473.55 on Friday. Teledyne Technologies Incorporated has a 12-month low of $355.41 and a 12-month high of $492.00. The company has a fifty day simple moving average of $464.41 and a two-hundred day simple moving average of $427.42. 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 has a market cap of $22.07 billion, a P/E ratio of 23.94, a P/E/G ratio of 3.32 and a beta of 1.01.

Teledyne Technologies (NYSE:TDY) last issued its quarterly earnings results on Wednesday, October 23rd. The scientific and technical instruments company reported $5.10 EPS for the quarter, topping 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 company 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 firm posted $5.05 EPS. The firm’s revenue was up 2.9% compared to the same quarter last year. On average, analysts forecast that Teledyne Technologies Incorporated will post 19.45 earnings per share for the current year.

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.