Bank Julius Baer & Co. Ltd Zurich Sells 2,562 Shares of Teledyne Technologies Incorporated $TDY

Key Points

• Bank Julius Baer & Co. cut its Teledyne Technologies stake by 31.4%, selling 2,562 shares and retaining 5,599 shares valued at about $3.4 million. Institutional investors own 91.58% of the company.
• Teledyne reported quarterly EPS of $6.72, beating the $6.17 consensus, while revenue rose 9.4% year over year to $1.68 billion.
• Analysts have a consensus “Moderate Buy” rating and an average price target of $731.83; the shares opened at $663.44 in the report.

Bank Julius Baer & Co. Ltd Zurich trimmed its stake in shares of Teledyne Technologies Incorporated (NYSE:TDY - Free Report) by 31.4% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,599 shares of the scientific and technical instruments company's stock after selling 2,562 shares during the period. Bank Julius Baer & Co. Ltd Zurich's holdings in Teledyne Technologies were worth $3,395,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Trust Co. of Vermont purchased a new stake in shares of Teledyne Technologies in the second quarter worth about $28,000. Allied Private Wealth LLC purchased a new position in Teledyne Technologies during the 2nd quarter valued at approximately $28,000. Meeder Asset Management Inc. purchased a new position in Teledyne Technologies during the 1st quarter valued at approximately $27,000. Elevation Wealth Partners LLC increased its stake in Teledyne Technologies by 1,025.0% in the 3rd quarter. Elevation Wealth Partners LLC now owns 45 shares of the scientific and technical instruments company's stock worth $27,000 after acquiring an additional 41 shares during the last quarter. Finally, Pension & Wealth Management Advisors Inc. bought a new stake in Teledyne Technologies in the 3rd quarter worth approximately $28,000. 91.58% of the stock is currently owned by institutional investors.

Teledyne Technologies Stock Performance

Teledyne Technologies stock opened at $663.44 on Wednesday. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.31 and a quick ratio of 1.51. The firm has a market capitalization of $30.54 billion, a P/E ratio of 26.29, a price-to-earnings-growth ratio of 2.43 and a beta of 0.89. Teledyne Technologies Incorporated has a 1-year low of $483.02 and a 1-year high of $697.67. The company's 50-day moving average is $619.49 and its 200 day moving average is $634.10.

Teledyne Technologies (NYSE:TDY - Get Free Report) last released its earnings results on Wednesday, October 21st. The scientific and technical instruments company reported $6.72 EPS for the quarter, beating analysts' consensus estimates of $6.17 by $0.55. Teledyne Technologies had a return on equity of 10.89% and a net margin of 15.75%. The firm had revenue of $1.68 billion for the quarter, compared to analysts' expectations of $1.65 billion. During the same quarter in the prior year, the firm posted $5.57 earnings per share. The company's quarterly revenue was up 9.4% on a year-over-year basis. Research analysts forecast that Teledyne Technologies Incorporated will post 25.59 EPS for the current year.

Insider Buying and Selling

In other Teledyne Technologies news, Director Simon Lorne sold 6,449 shares of the business's stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $680.34, for a total value of $4,387,512.66. Following the completion of the sale, the director directly owned 55,783 shares of the company's stock, valued at $37,951,406.22. The trade was a 10.36% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.36% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several analysts have recently issued reports on TDY shares. Morgan Stanley upped their price objective on Teledyne Technologies from $715.00 to $725.00 and gave the stock an "equal weight" rating in a report on Tuesday. Zacks Research lowered shares of Teledyne Technologies from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 25th. Barclays boosted their price target on shares of Teledyne Technologies from $640.00 to $646.00 and gave the stock an "equal weight" rating in a research report on Monday, October 26th. Stifel Nicolaus upped their price target on shares of Teledyne Technologies from $775.00 to $795.00 and gave the company a "buy" rating in a research note on Thursday, October 22nd. Finally, Needham & Company LLC increased their price objective on shares of Teledyne Technologies from $760.00 to $775.00 and gave the company a "buy" rating in a research report on Friday, October 23rd. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, Teledyne Technologies has a consensus rating of "Moderate Buy" and an average target price of $731.83.

Teledyne Technologies Company Profile

Teledyne Technologies Incorporated NYSE: TDY is an industrial technology company that develops and manufactures sophisticated electronic, digital imaging, aerospace and defense products. Its offerings are used in commercial, industrial, scientific, government and defense applications where sensing, imaging, measurement and data processing are important.

The company's businesses include digital imaging sensors and cameras, scientific instruments, environmental and marine monitoring systems, aerospace and defense electronics, communications equipment, data-acquisition systems and engineered components.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.