ProShare Advisors LLC Acquires 2,654 Shares of Teledyne Technologies Incorporated (NYSE:TDY)

ProShare Advisors LLC lifted its position in shares of Teledyne Technologies Incorporated (NYSE:TDY) by 34.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,285 shares of the scientific and technical instruments company’s stock after acquiring an additional 2,654 shares during the period. ProShare Advisors LLC’s holdings in Teledyne Technologies were worth $4,601,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in TDY. CVA Family Office LLC bought a new stake in shares of Teledyne Technologies during the fourth quarter valued at approximately $30,000. TCI Wealth Advisors Inc. increased its position in shares of Teledyne Technologies by 236.4% during the first quarter. TCI Wealth Advisors Inc. now owns 74 shares of the scientific and technical instruments company’s stock valued at $33,000 after acquiring an additional 52 shares in the last quarter. Belpointe Asset Management LLC bought a new stake in shares of Teledyne Technologies during the fourth quarter valued at approximately $36,000. Beacon Capital Management LLC bought a new stake in shares of Teledyne Technologies during the first quarter valued at approximately $41,000. Finally, Clear Street Markets LLC increased its position in shares of Teledyne Technologies by 91.7% during the first quarter. Clear Street Markets LLC now owns 92 shares of the scientific and technical instruments company’s stock valued at $41,000 after acquiring an additional 44 shares in the last quarter. Institutional investors own 87.57% of the company’s stock.

Teledyne Technologies Trading Up 1.2 %

Shares of Teledyne Technologies stock opened at $420.06 on Tuesday. The company’s fifty day simple moving average is $404.20 and its 200-day simple moving average is $411.09. The stock has a market capitalization of $19.77 billion, a PE ratio of 26.12, a P/E/G ratio of 3.42 and a beta of 1.03. Teledyne Technologies Incorporated has a 1-year low of $325.00 and a 1-year high of $448.71. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.62 and a quick ratio of 1.02.

Teledyne Technologies (NYSE:TDY) last issued its quarterly earnings results on Wednesday, July 26th. The scientific and technical instruments company reported $4.67 earnings per share for the quarter, topping the consensus estimate of $4.63 by $0.04. The business had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.41 billion. Teledyne Technologies had a net margin of 13.75% and a return on equity of 10.90%. The company’s revenue was up 5.1% compared to the same quarter last year. During the same quarter last year, the company posted $4.43 EPS. As a group, equities analysts anticipate that Teledyne Technologies Incorporated will post 19.12 earnings per share for the current year.

Insider Transactions at Teledyne Technologies

In related news, CEO Robert Mehrabian sold 45,500 shares of Teledyne Technologies stock in a transaction on Tuesday, August 29th. The shares were sold at an average price of $416.13, for a total transaction of $18,933,915.00. Following the transaction, the chief executive officer now 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 this link. In related news, Director Schack Wesley W. Von sold 376 shares of Teledyne Technologies stock in a transaction on Thursday, September 14th. The shares were sold at an average price of $412.30, for a total transaction of $155,024.80. Following the transaction, the director now owns 11,967 shares in the company, valued at approximately $4,933,994.10. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Robert Mehrabian sold 45,500 shares of Teledyne Technologies stock in a transaction on Tuesday, August 29th. The shares were sold at an average price of $416.13, for a total transaction of $18,933,915.00. Following the transaction, the chief executive officer now owns 196,052 shares in the company, valued at approximately $81,583,118.76. The disclosure for this sale can be found here. Insiders have sold 61,646 shares of company stock worth $25,717,295 in the last 90 days. 2.14% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on TDY. Bank of America raised their target price on shares of Teledyne Technologies from $533.00 to $565.00 in a report on Thursday, May 25th. The Goldman Sachs Group upgraded shares of Teledyne Technologies from a “neutral” rating to a “buy” rating and raised their target price for the stock from $423.00 to $495.00 in a report on Monday, August 14th. StockNews.com cut shares of Teledyne Technologies from a “buy” rating to a “hold” rating in a report on Wednesday, September 13th. Finally, Needham & Company LLC dropped their target price on shares of Teledyne Technologies from $470.00 to $455.00 and set a “buy” rating on the stock in a report on Thursday, July 27th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $500.40.

Teledyne Technologies Company 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.