Massachusetts Financial Services Co. MA Sells 165 Shares of Teledyne Technologies Incorporated (NYSE:TDY)

Massachusetts Financial Services Co. MA lowered its stake in shares of Teledyne Technologies Incorporated (NYSE:TDY) by 0.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,556 shares of the scientific and technical instruments company’s stock after selling 165 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Teledyne Technologies were worth $10,747,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in the stock. Tortoise Investment Management LLC boosted its position in Teledyne Technologies by 48.0% during 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 purchasing an additional 24 shares in the last quarter. Metis Global Partners LLC boosted its holdings in Teledyne Technologies by 1.6% in the third quarter. Metis Global Partners LLC now owns 1,514 shares of the scientific and technical instruments company’s stock worth $663,000 after acquiring an additional 24 shares in the last quarter. Crumly & Associates Inc. boosted its holdings in Teledyne Technologies by 3.8% in the third quarter. Crumly & Associates Inc. now owns 677 shares of the scientific and technical instruments company’s stock worth $296,000 after acquiring an additional 25 shares in the last quarter. Bleakley Financial Group LLC boosted its holdings in Teledyne Technologies by 4.0% in the third quarter. Bleakley Financial Group LLC now owns 681 shares of the scientific and technical instruments company’s stock worth $298,000 after acquiring an additional 26 shares in the last quarter. Finally, Summit Trail Advisors LLC boosted its holdings in Teledyne Technologies by 3.9% in the second quarter. Summit Trail Advisors LLC now owns 720 shares of the scientific and technical instruments company’s stock worth $279,000 after acquiring an additional 27 shares in the last quarter. Institutional investors own 91.58% of the company’s stock.

Insider Buying and Selling at Teledyne Technologies

In other Teledyne Technologies news, Chairman Robert Mehrabian sold 3,925 shares of the business’s stock in a transaction that occurred on 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 completion of the transaction, the chairman now directly owns 171,802 shares of the company’s stock, valued at approximately $84,268,881. The trade was a 2.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.88% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have weighed in on TDY. Needham & Company LLC raised their price target on Teledyne Technologies from $528.00 to $550.00 and gave the stock a “buy” rating in a report on Monday, November 11th. 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. StockNews.com raised Teledyne Technologies from a “hold” rating to a “buy” rating in a report on Wednesday, October 2nd. Finally, 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. Five analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $517.50.

Teledyne Technologies Trading Up 0.3 %

Teledyne Technologies stock opened at $478.96 on Wednesday. The company has a quick ratio of 1.35, a current ratio of 2.00 and a debt-to-equity ratio of 0.28. Teledyne Technologies Incorporated has a 52 week low of $355.41 and a 52 week high of $492.00. The company has a market capitalization of $22.32 billion, a price-to-earnings ratio of 24.21, a price-to-earnings-growth ratio of 3.36 and a beta of 1.01. The stock has a 50-day moving average price of $455.89 and a 200 day moving average price of $422.57.

Teledyne Technologies (NYSE:TDY) last announced its quarterly earnings results on Wednesday, October 23rd. The scientific and technical instruments company reported $5.10 earnings per share (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 period in the previous year, the company posted $5.05 earnings per share. Teledyne Technologies’s revenue for the quarter was up 2.9% on a year-over-year basis. Sell-side analysts anticipate 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.