Teledyne Technologies Incorporated (NYSE:TDY) Shares Bought by Victory Capital Management Inc.

Victory Capital Management Inc. grew its stake in Teledyne Technologies Incorporated (NYSE:TDY) by 1.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 31,436 shares of the scientific and technical instruments company’s stock after buying an additional 563 shares during the period. Victory Capital Management Inc.’s holdings in Teledyne Technologies were worth $13,758,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of TDY. Tortoise Investment Management LLC boosted its stake in Teledyne Technologies by 48.0% in the second quarter. Tortoise Investment Management LLC now owns 74 shares of the scientific and technical instruments company’s stock valued at $29,000 after acquiring an additional 24 shares in the last quarter. Crumly & Associates Inc. increased its holdings in shares of Teledyne Technologies by 3.8% in the 3rd quarter. Crumly & Associates Inc. now owns 677 shares of the scientific and technical instruments company’s stock valued at $296,000 after acquiring an additional 25 shares during the period. Bleakley Financial Group LLC increased its holdings in shares of Teledyne Technologies by 4.0% in the 3rd quarter. Bleakley Financial Group LLC now owns 681 shares of the scientific and technical instruments company’s stock valued at $298,000 after acquiring an additional 26 shares during the period. Summit Trail Advisors LLC raised its position in Teledyne Technologies by 3.9% in the 2nd quarter. Summit Trail Advisors LLC now owns 720 shares of the scientific and technical instruments company’s stock valued at $279,000 after purchasing an additional 27 shares during the last quarter. Finally, Linscomb Wealth Inc. increased its stake in Teledyne Technologies by 4.4% in the second quarter. Linscomb Wealth Inc. now owns 695 shares of the scientific and technical instruments company’s stock valued at $270,000 after purchasing an additional 29 shares during the period. 91.58% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Chairman Robert Mehrabian sold 46,075 shares of Teledyne Technologies stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $487.33, for a total transaction of $22,453,729.75. Following the completion of the sale, the chairman now directly owns 171,802 shares in the company, valued at approximately $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 accessible through the SEC website. 1.88% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities analysts recently issued reports on TDY shares. Bank of America raised Teledyne Technologies from a “neutral” rating to a “buy” rating and raised their price target for the stock from $450.00 to $550.00 in a report on Friday, November 8th. Vertical Research initiated coverage on Teledyne Technologies in a report on Tuesday, July 23rd. They issued a “buy” rating and a $470.00 target price on the stock. TD Cowen upped their price target on Teledyne Technologies from $450.00 to $500.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. StockNews.com upgraded shares of Teledyne Technologies from a “hold” rating to a “buy” rating in a research report on Wednesday, October 2nd. Finally, Needham & Company LLC upped their price objective on shares of Teledyne Technologies from $528.00 to $550.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $517.50.

Teledyne Technologies Stock Performance

Shares of TDY stock opened at $464.84 on Wednesday. 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 company has a market cap of $21.66 billion, a price-to-earnings ratio of 23.50, a price-to-earnings-growth ratio of 3.26 and a beta of 1.01. The stock has a 50 day simple moving average of $451.10 and a 200-day simple moving average of $419.59.

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