Teledyne Technologies Incorporated $TDY Shares Acquired by Asset Management One Co. Ltd.

Key Points

• Asset Management One increased its Teledyne Technologies stake by 5.3% in the third quarter, bringing its holdings to 39,222 shares valued at approximately $23.8 million. Institutional investors and hedge funds collectively own 91.58% of the company.
• Analyst sentiment remains positive but mixed, with Teledyne receiving a “Moderate Buy” consensus rating and an average price target of $730.17. Stifel Nicolaus and Needham raised their price targets, while Barclays and Morgan Stanley maintained “equal weight” ratings.
• Teledyne exceeded quarterly expectations, reporting $6.72 in earnings per share versus the $6.17 consensus estimate and $1.68 billion in revenue. Revenue rose 9.4% year over year, while the stock opened at $677.45, near its 52-week high of $697.67.

Asset Management One Co. Ltd. boosted its position in Teledyne Technologies Incorporated (NYSE:TDY - Free Report) by 5.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,222 shares of the scientific and technical instruments company's stock after buying an additional 1,965 shares during the period. Asset Management One Co. Ltd. owned approximately 0.08% of Teledyne Technologies worth $23,800,000 at the end of the most recent quarter.

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

Analyst Ratings Changes

A number of research firms have recently weighed in on TDY. Stifel Nicolaus raised their target price on Teledyne Technologies from $775.00 to $795.00 and gave the company a "buy" rating in a report on Thursday, October 22nd. Zacks Research downgraded Teledyne Technologies from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 25th. Needham & Company LLC increased their price target on Teledyne Technologies from $760.00 to $775.00 and gave the company a "buy" rating in a research report on Friday, October 23rd. Barclays raised their price objective on Teledyne Technologies from $640.00 to $646.00 and gave the company an "equal weight" rating in a research note on Monday. Finally, Morgan Stanley lifted their price objective on shares of Teledyne Technologies from $680.00 to $715.00 and gave the stock an "equal weight" rating in a report on Thursday, August 13th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $730.17.

Teledyne Technologies Price Performance

Shares of NYSE:TDY opened at $677.45 on Friday. The company's 50-day moving average is $617.79 and its 200 day moving average is $632.53. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.51 and a current ratio of 2.31. The company has a market capitalization of $31.19 billion, a P/E ratio of 26.52, a price-to-earnings-growth ratio of 2.45 and a beta of 0.89. Teledyne Technologies Incorporated has a fifty-two week low of $483.02 and a fifty-two week high of $697.67.

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

Insider Transactions at Teledyne Technologies

In related news, Director Simon Lorne sold 6,449 shares of Teledyne Technologies stock in a transaction dated Wednesday, August 12th. The stock was 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 owned 55,783 shares of the company's stock, valued at approximately $37,951,406.22. This trade represents a 10.36% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.36% of the stock is owned by corporate insiders.

About Teledyne Technologies

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.