ING Groep NV Purchases Shares of 2,430 Teledyne Technologies Incorporated (NYSE:TDY)

ING Groep NV acquired a new position in shares of Teledyne Technologies Incorporated (NYSE:TDY - Free Report) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 2,430 shares of the scientific and technical instruments company's stock, valued at approximately $1,064,000.

Other hedge funds have also made changes to their positions in the company. Wolff Wiese Magana LLC acquired a new stake in shares of Teledyne Technologies during the third quarter worth $27,000. American National Bank acquired a new position in Teledyne Technologies in the second quarter valued at $28,000. Innealta Capital LLC acquired a new position in Teledyne Technologies in the second quarter valued at $28,000. Tortoise Investment Management LLC boosted its holdings 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 during the last quarter. Finally, Crewe Advisors LLC boosted its holdings in 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 valued at $34,000 after acquiring an additional 67 shares during the last quarter. Institutional investors and hedge funds own 91.58% of the company's stock.

Teledyne Technologies Stock Performance

TDY stock traded down $4.26 during trading on Monday, reaching $465.89. 258,274 shares of the company's stock were exchanged, compared to its average volume of 240,817. 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 1-year low of $355.41 and a 1-year high of $492.00. The company's fifty day moving average price is $450.27 and its 200-day moving average price is $419.02. The firm has a market cap of $21.71 billion, a PE ratio of 23.72, a P/E/G ratio of 3.26 and a beta of 1.01.

Teledyne Technologies (NYSE:TDY - Get Free Report) last posted 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 analyst estimates of $1.42 billion. Teledyne Technologies had a return on equity of 10.02% and a net margin of 16.88%. Teledyne Technologies's quarterly revenue was up 2.9% on a year-over-year basis. During the same period in the previous year, the firm earned $5.05 earnings per share. On average, research analysts expect that Teledyne Technologies Incorporated will post 19.45 EPS for the current fiscal year.

Insider Activity at Teledyne Technologies

In other Teledyne Technologies news, Chairman Robert Mehrabian sold 46,075 shares of the business's stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $487.33, for a total value of $22,453,729.75. Following the transaction, the chairman now owns 171,802 shares in the company, valued at $83,724,268.66. The trade was a 21.15 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 2.14% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on TDY shares. TD Cowen lifted 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. StockNews.com upgraded Teledyne Technologies from a "hold" rating to a "buy" rating in a report on Wednesday, October 2nd. Vertical Research assumed coverage on Teledyne Technologies in a research report on Tuesday, July 23rd. They issued a "buy" rating and a $470.00 price objective on the stock. Bank of America raised Teledyne Technologies from a "neutral" rating to a "buy" rating and raised their price objective for the company from $450.00 to $550.00 in a research report on Friday, November 8th. Finally, Needham & Company LLC raised their price objective on Teledyne Technologies from $528.00 to $550.00 and gave the company a "buy" rating in a research report on Monday, November 11th. Five analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of $517.50.

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.