Beacon Investment Advisory Services Inc. Purchases New Shares in Teledyne Technologies Incorporated (NYSE:TDY)

Beacon Investment Advisory Services Inc. purchased a new stake in Teledyne Technologies Incorporated (NYSE:TDY) during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 490 shares of the scientific and technical instruments company’s stock, valued at approximately $214,000.

A number of other institutional investors have also recently added to or reduced their stakes in TDY. Kayne Anderson Rudnick Investment Management LLC grew its stake in Teledyne Technologies by 17.8% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,238,091 shares of the scientific and technical instruments company’s stock valued at $480,355,000 after acquiring an additional 186,849 shares during the period. Assenagon Asset Management S.A. grew its stake in Teledyne Technologies by 235.6% in the 2nd quarter. Assenagon Asset Management S.A. now owns 125,245 shares of the scientific and technical instruments company’s stock valued at $48,593,000 after acquiring an additional 87,925 shares during the period. International Assets Investment Management LLC grew 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 valued at $32,372,000 after acquiring an additional 73,799 shares during the period. Millennium Management LLC lifted its holdings in Teledyne Technologies by 88.4% in the 2nd quarter. Millennium Management LLC now owns 127,752 shares of the scientific and technical instruments company’s stock valued at $49,565,000 after purchasing an additional 59,942 shares in the last quarter. Finally, Distillate Capital Partners LLC acquired a new stake in Teledyne Technologies during the 2nd quarter worth $14,529,000. Institutional investors and hedge funds own 91.58% of the company’s stock.

Insider Activity

In other news, Chairman Robert Mehrabian sold 3,925 shares of the business’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $490.50, for a total transaction of $1,925,212.50. Following the transaction, the chairman now owns 171,802 shares of the company’s stock, valued at approximately $84,268,881. The trade was a 2.23 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 1.88% of the company’s stock.

Teledyne Technologies Trading Down 1.1 %

Shares of TDY stock opened at $479.86 on Tuesday. The company’s 50-day moving average price is $461.07 and its 200-day moving average price is $425.60. The company has a current ratio of 2.00, a quick ratio of 1.35 and a debt-to-equity ratio of 0.28. The stock has a market cap of $22.36 billion, a price-to-earnings ratio of 24.26, a PEG ratio of 3.37 and a beta of 1.01. Teledyne Technologies Incorporated has a twelve month low of $355.41 and a twelve month high of $492.00.

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 for the quarter, beating the consensus estimate of $4.97 by $0.13. The firm had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.42 billion. Teledyne Technologies had a net margin of 16.88% and a return on equity of 10.02%. The company’s revenue was up 2.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $5.05 EPS. As a group, equities analysts predict that Teledyne Technologies Incorporated will post 19.45 earnings per share for the current year.

Analyst Upgrades and Downgrades

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

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.