Raymond James Trust N.A. Increases Stock Position in Teledyne Technologies Incorporated (NYSE:TDY)

Raymond James Trust N.A. increased its position in Teledyne Technologies Incorporated (NYSE:TDY) by 4.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 550 shares of the scientific and technical instruments company’s stock after buying an additional 25 shares during the quarter. Raymond James Trust N.A.’s holdings in Teledyne Technologies were worth $241,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Wolff Wiese Magana LLC acquired a new position in shares of Teledyne Technologies in the 3rd quarter valued at about $27,000. American National Bank purchased a new position in Teledyne Technologies in the second quarter valued at approximately $28,000. Innealta Capital LLC acquired a new position in Teledyne Technologies during the second quarter valued at approximately $28,000. Tortoise Investment Management LLC grew its stake 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 worth $29,000 after buying an additional 24 shares during the period. Finally, Crewe Advisors LLC increased its position in shares of Teledyne Technologies by 319.0% in the second quarter. Crewe Advisors LLC now owns 88 shares of the scientific and technical instruments company’s stock worth $34,000 after acquiring an additional 67 shares in the last quarter. Institutional investors and hedge funds own 91.58% of the company’s stock.

Insider Buying and Selling at Teledyne Technologies

In other news, Chairman Robert Mehrabian sold 46,075 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $487.33, for a total value of $22,453,729.75. Following the sale, the chairman now owns 171,802 shares in the company, valued at approximately $83,724,268.66. This represents a 21.15 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.88% of the stock is currently owned by insiders.

Analysts Set New Price Targets

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

Teledyne Technologies Stock Up 1.4 %

Shares of NYSE TDY opened at $485.68 on Thursday. The firm has a market cap of $22.63 billion, a price-to-earnings ratio of 24.55, a PEG 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. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.35 and a current ratio of 2.00. The stock’s 50-day simple moving average is $458.07 and its 200-day simple moving average is $423.61.

Teledyne Technologies (NYSE:TDY) last posted its quarterly earnings data on Wednesday, October 23rd. The scientific and technical instruments company reported $5.10 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $1.42 billion. During the same period in the previous year, the business earned $5.05 EPS. Teledyne Technologies’s revenue for the quarter was up 2.9% compared to the same quarter last year. As a group, equities analysts anticipate that Teledyne Technologies Incorporated will post 19.45 earnings per share for the current fiscal year.

About Teledyne Technologies

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.