Cairn Investment Group Inc. Buys New Holdings in Teledyne Technologies Incorporated (NYSE:TDY)

Cairn Investment Group Inc. bought a new stake in shares of Teledyne Technologies Incorporated (NYSE:TDY) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 446 shares of the scientific and technical instruments company’s stock, valued at approximately $207,000.

A number of other large investors have also added to or reduced their stakes in TDY. International Assets Investment Management LLC increased its stake in Teledyne Technologies by 44,457.2% in the 3rd quarter. International Assets Investment Management LLC now owns 73,965 shares of the scientific and technical instruments company’s stock worth $32,372,000 after acquiring an additional 73,799 shares during the last quarter. JPMorgan Chase & Co. increased its stake in Teledyne Technologies by 6.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,150,065 shares of the scientific and technical instruments company’s stock worth $503,338,000 after acquiring an additional 64,617 shares during the last quarter. State Street Corp increased its stake in Teledyne Technologies by 1.9% in the 3rd quarter. State Street Corp now owns 2,040,896 shares of the scientific and technical instruments company’s stock worth $893,219,000 after acquiring an additional 37,884 shares during the last quarter. National Bank of Canada FI boosted its holdings in shares of Teledyne Technologies by 217.5% in the 3rd quarter. National Bank of Canada FI now owns 53,819 shares of the scientific and technical instruments company’s stock worth $23,554,000 after purchasing an additional 36,867 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec boosted its holdings in shares of Teledyne Technologies by 11.2% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 288,826 shares of the scientific and technical instruments company’s stock worth $126,408,000 after purchasing an additional 28,979 shares during the period. Institutional investors own 91.58% of the company’s stock.

Insiders Place Their Bets

In related 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 transaction of $1,925,212.50. Following the transaction, the chairman now directly owns 171,802 shares of the company’s stock, valued at $84,268,881. This represents a 2.23 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Vice Chairman Jason Vanwees sold 1,500 shares of the company’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $488.71, for a total value of $733,065.00. Following the transaction, the insider now directly owns 2,900 shares in the company, valued at $1,417,259. This represents a 34.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 72,915 shares of company stock worth $35,954,556. 2.14% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have recently commented on TDY shares. UBS Group started coverage on Teledyne Technologies in a report on Tuesday, December 10th. They issued a “buy” rating and a $585.00 target price for the company. TD Cowen lifted their target price on Teledyne Technologies from $450.00 to $500.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. StockNews.com upgraded Teledyne Technologies from a “hold” rating to a “buy” rating in a report on Wednesday, October 2nd. Bank of America upgraded 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. Finally, Needham & Company LLC boosted their price objective on Teledyne Technologies from $528.00 to $550.00 and gave the company a “buy” rating in a report on Monday, November 11th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, Teledyne Technologies has an average rating of “Buy” and an average price target of $531.00.

Teledyne Technologies Price Performance

TDY opened at $508.81 on Thursday. The business has a fifty day moving average of $476.25 and a 200 day moving average of $449.79. Teledyne Technologies Incorporated has a 52-week low of $355.41 and a 52-week high of $518.85. The company has a quick ratio of 1.35, a current ratio of 2.33 and a debt-to-equity ratio of 0.28. The stock has a market cap of $23.71 billion, a P/E ratio of 29.53, a PEG ratio of 3.24 and a beta of 1.01.

Teledyne Technologies (NYSE:TDY) last issued its earnings results on Wednesday, January 22nd. The scientific and technical instruments company reported $5.52 earnings per share for the quarter, topping the consensus estimate of $5.23 by $0.29. Teledyne Technologies had a return on equity of 9.94% and a net margin of 14.45%. The business had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.45 billion. During the same period in the prior year, the business earned $5.44 EPS. The business’s revenue for the quarter was up 5.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Teledyne Technologies Incorporated will post 21.3 EPS for the current year.

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.