Teledyne Technologies Incorporated $TDY Stock: ProShare Advisors LLC Increases Position

Key Points

• ProShare Advisors increased its Teledyne stake by 20.7% in the third quarter, to 10,346 shares valued at about $6.28 million. Institutional investors collectively own 91.58% of the company.
• Teledyne reported quarterly EPS of $6.72, above the $6.17 estimate, and revenue of $1.68 billion, up 9.4% year over year.
• Analysts’ consensus rating is “Moderate Buy”, with an average price target of $731.83; recent targets include $795 from Stifel and $775 from Needham.

ProShare Advisors LLC lifted its stake in Teledyne Technologies Incorporated (NYSE:TDY - Free Report) by 20.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,346 shares of the scientific and technical instruments company's stock after purchasing an additional 1,775 shares during the period. ProShare Advisors LLC's holdings in Teledyne Technologies were worth $6,278,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in TDY. Meeder Asset Management Inc. purchased a new position in Teledyne Technologies in the first quarter valued at about $27,000. Elevation Wealth Partners LLC boosted its stake in shares of 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 acquiring an additional 41 shares in the last quarter. Allied Private Wealth LLC purchased a new stake in shares of Teledyne Technologies during the 2nd quarter worth approximately $28,000. Trust Co. of Vermont purchased a new stake in shares of Teledyne Technologies during the 2nd quarter worth approximately $28,000. Finally, Pension & Wealth Management Advisors Inc. acquired a new stake in shares of Teledyne Technologies in the 3rd quarter worth approximately $28,000. Hedge funds and other institutional investors own 91.58% of the company's stock.

Insider Activity

In other news, Director Simon Lorne sold 6,449 shares of the company'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 sale, the director directly owned 55,783 shares in the company, valued at $37,951,406.22. This represents a 10.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.36% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on TDY shares. Needham & Company LLC lifted their price objective on Teledyne Technologies from $760.00 to $775.00 and gave the stock a "buy" rating in a report on Friday, October 23rd. Stifel Nicolaus upped 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 cut Teledyne Technologies from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 25th. Barclays lifted their price target on Teledyne Technologies from $640.00 to $646.00 and gave the stock an "equal weight" rating in a research note on Monday, October 26th. Finally, Weiss Ratings upgraded shares of Teledyne Technologies from a "buy (b)" rating to a "buy (b+)" rating in a research report on Thursday, October 29th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $731.83.

Teledyne Technologies Trading Down 4.8%

Shares of TDY opened at $631.98 on Thursday. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.31 and a quick ratio of 1.51. Teledyne Technologies Incorporated has a 1-year low of $483.02 and a 1-year high of $697.67. The stock has a market cap of $29.10 billion, a price-to-earnings ratio of 28.88, a price-to-earnings-growth ratio of 2.44 and a beta of 0.89. The firm has a 50 day simple moving average of $619.58 and a 200-day simple moving average of $634.41.

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

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.

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 reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.