Teledyne Technologies Incorporated $TDY Shares Bought by CenterBook Partners LP

Key Points

• CenterBook Partners increased its Teledyne Technologies stake by 274.3% in the third quarter, to 2,508 shares valued at about $1.52 million. Institutional investors collectively own 91.58% of the stock.
• Teledyne beat quarterly expectations, reporting EPS of $6.72 versus $6.17 forecast and revenue of $1.68 billion versus $1.65 billion expected; revenue rose 9.4% year over year.
• Analysts’ consensus rating is Moderate Buy, with an average price target of $731.83. Shares opened at $643, and the article reports a 52-week range of $483.02 to $697.67.

CenterBook Partners LP raised its position in Teledyne Technologies Incorporated (NYSE:TDY - Free Report) by 274.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,508 shares of the scientific and technical instruments company's stock after purchasing an additional 1,838 shares during the quarter. CenterBook Partners LP's holdings in Teledyne Technologies were worth $1,522,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in TDY. BlackRock Inc. purchased a new stake in shares of Teledyne Technologies in the second quarter valued at approximately $2,751,121,000. Jupiter Topco LLC bought a new stake in Teledyne Technologies during the 2nd quarter valued at $1,027,237,000. Bank of America Corp DE purchased a new stake in shares of Teledyne Technologies in the 2nd quarter worth $406,938,000. Findlay Park Partners LLP bought a new position in shares of Teledyne Technologies during the 2nd quarter worth $277,363,000. Finally, Maren Capital LLC grew its holdings in Teledyne Technologies by 4.1% during the 2nd quarter. Maren Capital LLC now owns 376,928 shares of the scientific and technical instruments company's stock worth $251,373,000 after acquiring an additional 14,806 shares in the last quarter. 91.58% of the stock is currently owned by institutional investors.

Teledyne Technologies Stock Up 3.9%

Shares of TDY opened at $643.00 on Tuesday. The stock has a 50 day moving average price of $619.01 and a 200 day moving average price of $634.82. 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 stock has a market capitalization of $29.60 billion, a price-to-earnings ratio of 29.39, a PEG ratio of 2.33 and a beta of 0.89. Teledyne Technologies Incorporated has a one year low of $483.02 and a one year high of $697.67.

Teledyne Technologies (NYSE:TDY - Get Free Report) last announced its earnings results on Wednesday, October 21st. The scientific and technical instruments company reported $6.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.17 by $0.55. The company had revenue of $1.68 billion for the quarter, compared to analysts' expectations of $1.65 billion. Teledyne Technologies had a net margin of 15.75% and a return on equity of 10.89%. The firm's quarterly revenue was up 9.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $5.57 EPS. Equities research analysts forecast that Teledyne Technologies Incorporated will post 25.58 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Zacks Research downgraded Teledyne Technologies from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 25th. Barclays lifted their price objective on shares of Teledyne Technologies from $640.00 to $646.00 and gave the stock an "equal weight" rating in a research note on Monday, October 26th. Needham & Company LLC upped their target price on Teledyne Technologies from $760.00 to $775.00 and gave the company a "buy" rating in a research report on Friday, October 23rd. Weiss Ratings upgraded Teledyne Technologies from a "buy (b)" rating to a "buy (b+)" rating in a research note on Thursday, October 29th. Finally, Morgan Stanley increased their price target on shares of Teledyne Technologies from $715.00 to $725.00 and gave the stock an "equal weight" rating in a report on Tuesday, November 3rd. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $731.83.

Insider Transactions at Teledyne Technologies

In other Teledyne Technologies news, Director Simon Lorne sold 6,449 shares of the firm's stock in a transaction on 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 directly owned 55,783 shares of the company's stock, valued at $37,951,406.22. This trade represents a 10.36% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.36% of the stock is currently owned by insiders.

Teledyne Technologies Company Profile

Teledyne Technologies is an industrial technology company that develops and manufactures instrumentation, digital imaging products, aerospace and defense electronics, and engineered systems. Its products and services support applications including environmental monitoring, marine research, scientific imaging, and industrial inspection.

The company's businesses include sensors and monitoring instruments, cameras and imaging systems, electronic components, and specialized engineering and manufacturing services.

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