Commerce Bank Sells 93 Shares of Teledyne Technologies Incorporated (NYSE:TDY)

Commerce Bank lessened its stake in Teledyne Technologies Incorporated (NYSE:TDY) by 6.5% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 1,328 shares of the scientific and technical instruments company’s stock after selling 93 shares during the period. Commerce Bank’s holdings in Teledyne Technologies were worth $581,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in the company. Kayne Anderson Rudnick Investment Management LLC grew its holdings in shares of Teledyne Technologies by 17.8% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,238,091 shares of the scientific and technical instruments company’s stock worth $480,355,000 after purchasing an additional 186,849 shares in the last quarter. Earnest Partners LLC lifted its position in Teledyne Technologies by 3.5% in the second quarter. Earnest Partners LLC now owns 398,642 shares of the scientific and technical instruments company’s stock worth $154,665,000 after purchasing an additional 13,576 shares during the period. Dimensional Fund Advisors LP boosted its stake in Teledyne Technologies by 9.4% during the second quarter. Dimensional Fund Advisors LP now owns 375,265 shares of the scientific and technical instruments company’s stock worth $145,594,000 after buying an additional 32,339 shares in the last quarter. Sei Investments Co. increased its holdings in Teledyne Technologies by 4.4% in the 2nd quarter. Sei Investments Co. now owns 367,770 shares of the scientific and technical instruments company’s stock valued at $142,689,000 after buying an additional 15,604 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in shares of Teledyne Technologies by 3.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 300,302 shares of the scientific and technical instruments company’s stock valued at $116,511,000 after buying an additional 9,732 shares in the last quarter. 91.58% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on TDY. Needham & Company LLC lifted their target price on shares of Teledyne Technologies from $528.00 to $550.00 and gave the company a “buy” rating in a research report on Monday, November 11th. TD Cowen upped their price objective on Teledyne Technologies from $450.00 to $500.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. StockNews.com upgraded Teledyne Technologies from a “hold” rating to a “buy” rating in a research report on Wednesday, October 2nd. Finally, Bank of America upgraded Teledyne Technologies from a “neutral” rating to a “buy” rating and upped their price target for the company from $450.00 to $550.00 in a research report on Friday, November 8th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, the company has an average rating of “Buy” and a consensus target price of $517.50.

Insider Activity at Teledyne Technologies

In related news, Chairman Robert Mehrabian sold 46,075 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $487.33, for a total value of $22,453,729.75. Following the completion of the sale, the chairman now owns 171,802 shares of the company’s stock, valued at $83,724,268.66. This trade represents a 21.15 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 1.88% of the stock is currently owned by company insiders.

Teledyne Technologies Price Performance

Shares of Teledyne Technologies stock opened at $477.45 on Tuesday. The stock has a market capitalization of $22.25 billion, a price-to-earnings ratio of 24.14, a P/E/G ratio of 3.36 and a beta of 1.01. The firm’s 50-day moving average price is $454.91 and its two-hundred day moving average price is $421.97. The company has a current ratio of 2.00, a quick ratio of 1.35 and a debt-to-equity ratio of 0.28. Teledyne Technologies Incorporated has a 1-year low of $355.41 and a 1-year high of $492.00.

Teledyne Technologies (NYSE:TDY) last released its quarterly earnings results on Wednesday, October 23rd. The scientific and technical instruments company reported $5.10 earnings per share for the quarter, beating analysts’ consensus estimates of $4.97 by $0.13. The firm had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.42 billion. Teledyne Technologies had a return on equity of 10.02% and a net margin of 16.88%. The business’s revenue was up 2.9% on a year-over-year basis. During the same period last year, the firm posted $5.05 EPS. On average, equities analysts predict that Teledyne Technologies Incorporated will post 19.45 earnings per share for the current fiscal year.

Teledyne Technologies Profile

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.