Polar Asset Management Partners Inc. Acquires Shares of 11,900 Teledyne Technologies Incorporated (NYSE:TDY)

Polar Asset Management Partners Inc. bought a new stake in shares of Teledyne Technologies Incorporated (NYSE:TDY - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 11,900 shares of the scientific and technical instruments company's stock, valued at approximately $5,208,000.

Other large investors also recently added to or reduced their stakes in the company. Port Capital LLC boosted its holdings in Teledyne Technologies by 0.4% during the 3rd quarter. Port Capital LLC now owns 200,538 shares of the scientific and technical instruments company's stock valued at $87,767,000 after acquiring an additional 707 shares during the period. Maren Capital LLC lifted its position in Teledyne Technologies by 4.0% in the third quarter. Maren Capital LLC now owns 275,235 shares of the scientific and technical instruments company's stock valued at $120,459,000 after purchasing an additional 10,598 shares during the last quarter. Maven Securities LTD purchased a new stake in shares of Teledyne Technologies during the third quarter valued at approximately $1,083,000. Investment Management Corp of Ontario grew its holdings in shares of Teledyne Technologies by 48.6% in the third quarter. Investment Management Corp of Ontario now owns 1,528 shares of the scientific and technical instruments company's stock worth $669,000 after purchasing an additional 500 shares during the last quarter. Finally, Janus Henderson Group PLC grew its holdings in shares of Teledyne Technologies by 0.6% in the third quarter. Janus Henderson Group PLC now owns 1,709,475 shares of the scientific and technical instruments company's stock worth $748,167,000 after purchasing an additional 9,368 shares during the last quarter. Hedge funds and other institutional investors own 91.58% of the company's stock.

Insiders Place Their Bets

In related news, Chairman Robert Mehrabian sold 46,075 shares of the business's stock in a transaction dated 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 sale, the chairman now owns 171,802 shares of the company's stock, valued at $83,724,268.66. The trade was a 21.15 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 2.14% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

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

Teledyne Technologies Trading Down 0.5 %

NYSE TDY traded down $2.17 during trading on Thursday, hitting $476.72. The company had a trading volume of 189,891 shares, compared to its average volume of 241,342. The company's fifty day moving average is $463.65 and its 200-day moving average is $426.82. The company has a market cap of $22.22 billion, a price-to-earnings ratio of 24.10, a price-to-earnings-growth ratio of 3.32 and a beta of 1.01. 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 one year low of $355.41 and a one year high of $492.00.

Teledyne Technologies (NYSE:TDY - Get Free Report) last issued its quarterly earnings data on Wednesday, October 23rd. The scientific and technical instruments company reported $5.10 EPS for the quarter, topping the consensus estimate of $4.97 by $0.13. The business had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.42 billion. Teledyne Technologies had a net margin of 16.88% and a return on equity of 10.02%. Teledyne Technologies's quarterly revenue was up 2.9% compared to the same quarter last year. During the same period last year, the business posted $5.05 earnings per share. On average, sell-side analysts predict that Teledyne Technologies Incorporated will post 19.45 earnings per share for the current year.

Teledyne Technologies 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.