Charles Schwab Investment Management Inc. Increases Stake in Teledyne Technologies Incorporated (NYSE:TDY)

Charles Schwab Investment Management Inc. boosted its stake in shares of Teledyne Technologies Incorporated (NYSE:TDY) by 0.8% during the 3rd quarter, Holdings Channel reports. The firm owned 291,279 shares of the scientific and technical instruments company’s stock after acquiring an additional 2,206 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Teledyne Technologies were worth $127,481,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of TDY. Intech Investment Management LLC grew its holdings in shares of Teledyne Technologies by 70.4% during the third quarter. Intech Investment Management LLC now owns 11,019 shares of the scientific and technical instruments company’s stock valued at $4,823,000 after buying an additional 4,552 shares during the last quarter. Grandfield & Dodd LLC lifted its position in Teledyne Technologies by 2.5% during the 3rd quarter. Grandfield & Dodd LLC now owns 35,191 shares of the scientific and technical instruments company’s stock worth $15,402,000 after acquiring an additional 852 shares during the period. Prospera Private Wealth LLC purchased a new stake in Teledyne Technologies during the 3rd quarter valued at about $279,000. PNC Financial Services Group Inc. increased its holdings in shares of Teledyne Technologies by 0.6% in the third quarter. PNC Financial Services Group Inc. now owns 107,515 shares of the scientific and technical instruments company’s stock valued at $47,055,000 after purchasing an additional 611 shares during the period. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of Teledyne Technologies in the third quarter valued at about $435,000. Institutional investors and hedge funds own 91.58% of the company’s stock.

Teledyne Technologies Trading Down 1.3 %

Shares of NYSE:TDY opened at $477.45 on Tuesday. 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 12-month low of $355.41 and a 12-month high of $492.00. The business has a 50 day moving average of $454.91 and a two-hundred day moving average of $421.97. The company has a market capitalization of $22.25 billion, a PE ratio of 24.14, a PEG ratio of 3.36 and a beta of 1.01.

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

Insiders Place Their Bets

In other news, Chairman Robert Mehrabian sold 46,075 shares of the firm’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $487.33, for a total transaction of $22,453,729.75. Following the sale, the chairman now directly owns 171,802 shares in the company, valued at $83,724,268.66. This trade represents a 21.15 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.88% of the company’s stock.

Wall Street Analyst Weigh In

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

Teledyne Technologies Company 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.