CIBC Asset Management Inc grew its holdings in shares of Teledyne Technologies Incorporated (NYSE:TDY) by 47.9% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,167 shares of the scientific and technical instruments company’s stock after purchasing an additional 1,996 shares during the period. CIBC Asset Management Inc’s holdings in Teledyne Technologies were worth $1,918,000 at the end of the most recent quarter.
Several other large investors have also made changes to their positions in TDY. Hexavest Inc. acquired a new stake in shares of Teledyne Technologies during the 1st quarter worth approximately $13,284,000. Standard Life Aberdeen plc acquired a new stake in Teledyne Technologies in the fourth quarter valued at approximately $721,000. State of Tennessee Treasury Department boosted its position in Teledyne Technologies by 10.3% in the first quarter. State of Tennessee Treasury Department now owns 9,030 shares of the scientific and technical instruments company’s stock valued at $2,684,000 after buying an additional 844 shares in the last quarter. Meeder Asset Management Inc. boosted its position in Teledyne Technologies by 266.4% in the first quarter. Meeder Asset Management Inc. now owns 2,195 shares of the scientific and technical instruments company’s stock valued at $652,000 after buying an additional 1,596 shares in the last quarter. Finally, APG Asset Management N.V. acquired a new stake in Teledyne Technologies in the first quarter valued at approximately $4,965,000. Hedge funds and other institutional investors own 86.19% of the company’s stock.
In related news, Director Roxanne S. Austin sold 1,266 shares of Teledyne Technologies stock in a transaction on Friday, June 5th. The shares were sold at an average price of $383.47, for a total transaction of $485,473.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Aldo Pichelli sold 5,000 shares of Teledyne Technologies stock in a transaction on Friday, May 8th. The stock was sold at an average price of $332.17, for a total transaction of $1,660,850.00. Following the transaction, the chief executive officer now directly owns 94,002 shares of the company’s stock, valued at approximately $31,224,644.34. The disclosure for this sale can be found here. Insiders have sold 36,316 shares of company stock valued at $12,240,352 in the last ninety days. Insiders own 3.15% of the company’s stock.
A number of analysts have weighed in on the stock. Zacks Investment Research lowered shares of Teledyne Technologies from a “hold” rating to a “sell” rating and set a $359.00 target price on the stock. in a research report on Tuesday, May 26th. Jefferies Financial Group upgraded shares of Teledyne Technologies from a “hold” rating to a “buy” rating and raised their target price for the company from $310.00 to $360.00 in a research report on Wednesday, July 15th. Finally, Needham & Company LLC raised their price target on shares of Teledyne Technologies from $345.00 to $365.00 and gave the company a “buy” rating in a research note on Thursday, July 23rd. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $374.75.
TDY stock opened at $306.77 on Friday. The company has a fifty day moving average price of $314.01 and a 200-day moving average price of $331.68. The company has a market capitalization of $11.25 billion, a P/E ratio of 29.08 and a beta of 1.03. Teledyne Technologies Incorporated has a 52-week low of $195.34 and a 52-week high of $398.99. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.45 and a current ratio of 1.97.
Teledyne Technologies (NYSE:TDY) last released its quarterly earnings results on Wednesday, July 22nd. The scientific and technical instruments company reported $2.48 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.99 by $0.49. The firm had revenue of $743.30 million during the quarter, compared to the consensus estimate of $743.70 million. Teledyne Technologies had a net margin of 12.59% and a return on equity of 14.45%. During the same quarter last year, the firm earned $2.80 earnings per share. As a group, sell-side analysts forecast that Teledyne Technologies Incorporated will post 9.81 earnings per share for the current fiscal year.
Teledyne Technologies Profile
Teledyne Technologies Incorporated provides instrumentation, digital imaging, aerospace and defense electronics, and engineered systems in the United States, the United Kingdom, Denmark, Canada, France, and the Netherlands. The company's Instrumentation segment offers monitoring and control instruments for marine, environmental, industrial, and other applications, as well as electronic test and measurement equipment; and power and communications connectivity devices for distributed instrumentation systems and sensor networks deployed in mission critical and harsh environments.
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