Charles Schwab Investment Management Inc. Grows Holdings in Teledyne Technologies Incorporated (NYSE:TDY)

Charles Schwab Investment Management Inc. lifted its position in shares of Teledyne Technologies Incorporated (NYSE:TDY - Free Report) by 4.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 315,911 shares of the scientific and technical instruments company's stock after buying an additional 13,332 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.67% of Teledyne Technologies worth $157,232,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. OneDigital Investment Advisors LLC acquired a new position in Teledyne Technologies in the 1st quarter valued at $247,000. Asset Management One Co. Ltd. grew its position in shares of Teledyne Technologies by 4.7% in the first quarter. Asset Management One Co. Ltd. now owns 38,298 shares of the scientific and technical instruments company's stock valued at $19,061,000 after purchasing an additional 1,712 shares during the period. IFM Investors Pty Ltd increased its stake in Teledyne Technologies by 8.3% in the first quarter. IFM Investors Pty Ltd now owns 8,913 shares of the scientific and technical instruments company's stock valued at $4,436,000 after purchasing an additional 681 shares during the last quarter. SG Americas Securities LLC purchased a new position in Teledyne Technologies during the first quarter worth about $6,725,000. Finally, QRG Capital Management Inc. acquired a new stake in Teledyne Technologies in the 1st quarter worth about $275,000. Institutional investors and hedge funds own 91.58% of the company's stock.

Insiders Place Their Bets

In other news, CEO George C. Bobb III sold 6,735 shares of Teledyne Technologies stock in a transaction that occurred on Wednesday, July 30th. The shares were sold at an average price of $555.41, for a total transaction of $3,740,686.35. Following the sale, the chief executive officer owned 10,391 shares in the company, valued at $5,771,265.31. This trade represents a 39.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Michael T. Smith sold 1,975 shares of the business's stock in a transaction on Monday, July 28th. The stock was sold at an average price of $560.10, for a total transaction of $1,106,197.50. Following the transaction, the director directly owned 51,328 shares in the company, valued at approximately $28,748,812.80. The trade was a 3.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 15,021 shares of company stock worth $8,315,662 in the last 90 days. 1.50% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

TDY has been the topic of several recent analyst reports. UBS Group increased their price objective on shares of Teledyne Technologies from $585.00 to $630.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. Morgan Stanley lifted their price target on shares of Teledyne Technologies from $535.00 to $580.00 and gave the company an "equal weight" rating in a report on Thursday, July 17th. Wall Street Zen upgraded Teledyne Technologies from a "hold" rating to a "buy" rating in a report on Friday, May 9th. Stifel Nicolaus initiated coverage on Teledyne Technologies in a report on Tuesday, June 24th. They issued a "buy" rating and a $626.00 target price on the stock. Finally, Needham & Company LLC cut their price objective on Teledyne Technologies from $585.00 to $550.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat.com, Teledyne Technologies has an average rating of "Moderate Buy" and a consensus target price of $576.57.

Teledyne Technologies Stock Up 2.0%

NYSE TDY traded up $10.60 during trading hours on Tuesday, hitting $552.63. The company had a trading volume of 220,513 shares, compared to its average volume of 480,845. The firm's 50 day moving average is $524.18 and its 200 day moving average is $500.52. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.66 and a quick ratio of 1.07. Teledyne Technologies Incorporated has a fifty-two week low of $406.36 and a fifty-two week high of $570.56. The company has a market capitalization of $25.91 billion, a price-to-earnings ratio of 30.43, a P/E/G ratio of 2.52 and a beta of 1.07.

Teledyne Technologies (NYSE:TDY - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The scientific and technical instruments company reported $5.20 earnings per share for the quarter, topping the consensus estimate of $5.05 by $0.15. Teledyne Technologies had a return on equity of 9.96% and a net margin of 14.54%. The company had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.47 billion. During the same quarter in the prior year, the business earned $4.58 earnings per share. The company's revenue was up 10.2% compared to the same quarter last year. Sell-side analysts anticipate that Teledyne Technologies Incorporated will post 21.55 earnings per share for the current fiscal year.

Teledyne Technologies announced that its Board of Directors has initiated a share buyback program on Wednesday, July 23rd that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the scientific and technical instruments company to purchase up to 7.7% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's board believes its shares are undervalued.

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.