Royal Bank of Canada Grows Stock Position in Teledyne Technologies Incorporated (NYSE:TDY)

Royal Bank of Canada raised its holdings in Teledyne Technologies Incorporated (NYSE:TDY - Free Report) by 10.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 236,134 shares of the scientific and technical instruments company's stock after buying an additional 22,427 shares during the quarter. Royal Bank of Canada owned about 0.51% of Teledyne Technologies worth $109,596,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in TDY. Quarry LP purchased a new stake in Teledyne Technologies in the fourth quarter valued at about $28,000. Hurley Capital LLC purchased a new stake in Teledyne Technologies in the fourth quarter valued at about $33,000. Ancora Advisors LLC raised its stake in Teledyne Technologies by 192.3% in the fourth quarter. Ancora Advisors LLC now owns 76 shares of the scientific and technical instruments company's stock valued at $35,000 after buying an additional 50 shares during the last quarter. Millstone Evans Group LLC purchased a new stake in Teledyne Technologies in the fourth quarter valued at about $42,000. Finally, Newbridge Financial Services Group Inc. purchased a new position in shares of Teledyne Technologies in the fourth quarter worth about $46,000. 91.58% of the stock is currently owned by hedge funds and other institutional investors.

Teledyne Technologies Stock Down 0.5%

Teledyne Technologies stock opened at $496.62 on Tuesday. The firm has a market cap of $23.27 billion, a price-to-earnings ratio of 28.82, a price-to-earnings-growth ratio of 3.14 and a beta of 1.06. Teledyne Technologies Incorporated has a 52 week low of $380.63 and a 52 week high of $522.50. The business's 50-day moving average price is $477.73 and its 200 day moving average price is $481.83. The company has a quick ratio of 1.61, a current ratio of 2.33 and a debt-to-equity ratio of 0.28.

Teledyne Technologies (NYSE:TDY - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The scientific and technical instruments company reported $4.95 EPS for the quarter, topping the consensus estimate of $4.92 by $0.03. The firm had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.44 billion. Teledyne Technologies had a return on equity of 9.94% and a net margin of 14.45%. Teledyne Technologies's revenue for the quarter was up 7.4% compared to the same quarter last year. During the same period last year, the company earned $4.55 earnings per share. As a group, sell-side analysts anticipate that Teledyne Technologies Incorporated will post 21.55 earnings per share for the current year.

Insider Buying and Selling at Teledyne Technologies

In other Teledyne Technologies news, EVP Melanie Susan Cibik sold 706 shares of the firm's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $519.96, for a total value of $367,091.76. Following the sale, the executive vice president now directly owns 26,529 shares of the company's stock, valued at approximately $13,794,018.84. This trade represents a 2.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Vice Chairman Jason Vanwees sold 3,700 shares of the firm's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $520.06, for a total value of $1,924,222.00. Following the completion of the sale, the insider now directly owns 51,324 shares in the company, valued at approximately $26,691,559.44. The trade was a 6.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.50% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on TDY shares. StockNews.com upgraded Teledyne Technologies from a "hold" rating to a "buy" rating in a research note on Friday, May 9th. TD Securities restated a "buy" rating and issued a $550.00 price objective on shares of Teledyne Technologies in a research note on Thursday, April 24th. Bank of America raised their price objective on Teledyne Technologies from $550.00 to $600.00 and gave the stock a "buy" rating in a research note on Monday, March 17th. Finally, Needham & Company LLC reduced their price objective on Teledyne Technologies from $585.00 to $550.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $542.50.

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.

Want to see what other hedge funds are holding TDY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Teledyne Technologies Incorporated (NYSE:TDY - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.