Teledyne Technologies Incorporated (NYSE:TDY) Shares Purchased by LPL Financial LLC

LPL Financial LLC increased its position in shares of Teledyne Technologies Incorporated (NYSE:TDY) by 9.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,051 shares of the scientific and technical instruments company’s stock after acquiring an additional 513 shares during the period. LPL Financial LLC’s holdings in Teledyne Technologies were worth $2,707,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Baird Financial Group Inc. increased its stake in Teledyne Technologies by 2.6% in the 4th quarter. Baird Financial Group Inc. now owns 944 shares of the scientific and technical instruments company’s stock worth $378,000 after purchasing an additional 24 shares in the last quarter. Texas Permanent School Fund increased its stake in Teledyne Technologies by 0.4% in the 4th quarter. Texas Permanent School Fund now owns 6,659 shares of the scientific and technical instruments company’s stock worth $2,663,000 after purchasing an additional 28 shares in the last quarter. Sequoia Financial Advisors LLC increased its stake in Teledyne Technologies by 3.3% in the 1st quarter. Sequoia Financial Advisors LLC now owns 867 shares of the scientific and technical instruments company’s stock worth $388,000 after purchasing an additional 28 shares in the last quarter. First Manhattan Co. increased its stake in Teledyne Technologies by 0.6% in the 4th quarter. First Manhattan Co. now owns 4,466 shares of the scientific and technical instruments company’s stock worth $1,786,000 after purchasing an additional 28 shares in the last quarter. Finally, Federated Hermes Inc. increased its stake in Teledyne Technologies by 7.5% in the 1st quarter. Federated Hermes Inc. now owns 431 shares of the scientific and technical instruments company’s stock worth $204,000 after purchasing an additional 30 shares in the last quarter. 87.57% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, VP Melanie Susan Cibik sold 13,000 shares of the business’s stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $422.40, for a total value of $5,491,200.00. Following the completion of the sale, the vice president now directly owns 27,305 shares in the company, valued at approximately $11,533,632. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CEO Robert Mehrabian sold 45,500 shares of the business’s stock in a transaction that occurred on Tuesday, August 29th. The stock was sold at an average price of $416.13, for a total value of $18,933,915.00. Following the completion of the sale, the chief executive officer now directly owns 196,052 shares in the company, valued at approximately $81,583,118.76. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Melanie Susan Cibik sold 13,000 shares of the business’s stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $422.40, for a total value of $5,491,200.00. Following the completion of the sale, the vice president now owns 27,305 shares of the company’s stock, valued at $11,533,632. The disclosure for this sale can be found here. Insiders sold a total of 59,270 shares of company stock worth $24,748,731 in the last three months. 2.14% of the stock is owned by insiders.

Teledyne Technologies Trading Down 1.8 %

Shares of NYSE TDY opened at $412.94 on Wednesday. Teledyne Technologies Incorporated has a one year low of $325.00 and a one year high of $448.71. The firm has a market capitalization of $19.44 billion, a PE ratio of 25.68, a PEG ratio of 3.46 and a beta of 1.03. The company has a current ratio of 1.62, a quick ratio of 1.02 and a debt-to-equity ratio of 0.34. The business has a 50-day moving average price of $403.53 and a two-hundred day moving average price of $412.26.

Teledyne Technologies (NYSE:TDY) last announced its quarterly earnings results on Wednesday, July 26th. The scientific and technical instruments company reported $4.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.63 by $0.04. The business had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.41 billion. Teledyne Technologies had a return on equity of 10.90% and a net margin of 13.75%. The firm’s revenue was up 5.1% on a year-over-year basis. During the same period in the previous year, the company earned $4.43 EPS. As a group, analysts predict that Teledyne Technologies Incorporated will post 19.11 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on TDY shares. StockNews.com raised Teledyne Technologies from a “hold” rating to a “buy” rating in a research note on Tuesday. The Goldman Sachs Group upgraded Teledyne Technologies from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $423.00 to $495.00 in a research report on Monday, August 14th. Bank of America raised their price objective on Teledyne Technologies from $533.00 to $565.00 in a research report on Thursday, May 25th. Finally, Needham & Company LLC decreased their price objective on Teledyne Technologies from $470.00 to $455.00 and set a “buy” rating for the company in a research report on Thursday, July 27th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Teledyne Technologies currently has an average rating of “Moderate Buy” and an average price target of $500.40.

Teledyne Technologies Profile

Teledyne Technologies Incorporated, together with its subsidiaries, provides enabling technologies for industrial growth markets in the United States, Canada, the United Kingdom, France, and internationally. The company's Instrumentation segment offers monitoring and control instruments for marine, environmental, industrial, and other applications, as well as electronic test and measurement equipment; and power and communications connectivity devices for distributed instrumentation systems and sensor networks.