Teledyne Technologies Incorporated $TDY Stock Purchased by International Assets Investment Management LLC

Key Points

• International Assets Investment Management LLC increased its Teledyne Technologies stake by 1,789.9% in the third quarter, reaching 10,300 shares valued at approximately $6.25 million. Institutional investors collectively own 91.58% of TDY.
• Analyst sentiment remains positive overall, with TDY carrying a “Moderate Buy” consensus rating and an average price target of $730.17, despite some firms maintaining hold ratings.
• Teledyne exceeded quarterly expectations, reporting $6.72 in earnings per share versus the $6.17 estimate and revenue of $1.68 billion, up 9.4% year over year.

International Assets Investment Management LLC lifted its position in Teledyne Technologies Incorporated (NYSE:TDY - Free Report) by 1,789.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,300 shares of the scientific and technical instruments company's stock after purchasing an additional 9,755 shares during the period. International Assets Investment Management LLC's holdings in Teledyne Technologies were worth $6,250,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on TDY. Weiss Ratings raised shares of Teledyne Technologies from a "buy (b)" rating to a "buy (b+)" rating in a research report on Thursday. Stifel Nicolaus increased their target price on shares of Teledyne Technologies from $775.00 to $795.00 and gave the stock a "buy" rating in a research report on Thursday, October 22nd. Zacks Research cut Teledyne Technologies from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 25th. Barclays raised their price objective 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, 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. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $730.17.

Teledyne Technologies Stock Performance

Shares of TDY opened at $657.24 on Monday. The company has a 50-day simple moving average of $618.24 and a two-hundred day simple moving average of $633.07. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.31 and a quick ratio of 1.51. The firm has a market capitalization of $30.26 billion, a PE ratio of 30.04, a price-to-earnings-growth ratio of 2.42 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 released 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. Teledyne Technologies had a return on equity of 10.89% and a net margin of 15.75%. The company had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.65 billion. During the same period in the previous year, the company posted $5.57 earnings per share. The firm's revenue was up 9.4% on a year-over-year basis. On average, analysts anticipate that Teledyne Technologies Incorporated will post 25.59 EPS for the current fiscal year.

Insider Transactions at Teledyne Technologies

In other Teledyne Technologies news, Director Simon Lorne sold 6,449 shares of the company's stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $680.34, for a total transaction 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 document filed with the SEC, which is available at this link. Corporate insiders own 1.36% of the company's stock.

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.

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