Teledyne Technologies Incorporated (NYSE:TDY) Shares Bought by Cerity Partners LLC

Cerity Partners LLC increased its stake in Teledyne Technologies Incorporated (NYSE:TDY) by 30.6% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 16,383 shares of the scientific and technical instruments company’s stock after buying an additional 3,838 shares during the quarter. Cerity Partners LLC’s holdings in Teledyne Technologies were worth $7,170,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of TDY. Kayne Anderson Rudnick Investment Management LLC lifted its stake in shares of Teledyne Technologies by 17.8% in 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 acquiring an additional 186,849 shares during the period. 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 lifted its position in Teledyne Technologies by 9.4% in 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 purchasing an additional 32,339 shares during the period. Sei Investments Co. boosted its stake in Teledyne Technologies by 4.4% during 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 purchasing an additional 15,604 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of Teledyne Technologies by 3.3% during 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 purchasing an additional 9,732 shares during the period. Institutional investors own 91.58% of the company’s stock.

Wall Street Analyst Weigh In

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

Teledyne Technologies Trading Up 1.4 %

NYSE:TDY opened at $485.68 on Thursday. The stock has a fifty day simple moving average of $458.07 and a 200 day simple moving average of $423.61. The company has a quick ratio of 1.35, a current ratio of 2.00 and a debt-to-equity ratio of 0.28. The firm has a market capitalization of $22.63 billion, a price-to-earnings ratio of 24.55, a price-to-earnings-growth ratio of 3.31 and a beta of 1.01. 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 earnings results on Wednesday, October 23rd. The scientific and technical instruments company reported $5.10 earnings per share for the quarter, topping the consensus estimate of $4.97 by $0.13. The business had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.42 billion. Teledyne Technologies had a net margin of 16.88% and a return on equity of 10.02%. The firm’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same period last year, the firm posted $5.05 earnings per share. Sell-side analysts forecast that Teledyne Technologies Incorporated will post 19.45 earnings per share for the current year.

Insider Buying and Selling at Teledyne Technologies

In other news, Chairman Robert Mehrabian sold 3,925 shares of the company’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $490.50, for a total value of $1,925,212.50. Following the transaction, the chairman now owns 171,802 shares in the company, valued at $84,268,881. This represents a 2.23 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.88% of the company’s stock.

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.