Ascent Group LLC Sells 5,597 Shares of Teledyne Technologies Incorporated (NYSE:TDY)

Ascent Group LLC decreased its holdings in Teledyne Technologies Incorporated (NYSE:TDY - Free Report) by 85.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 938 shares of the scientific and technical instruments company's stock after selling 5,597 shares during the quarter. Ascent Group LLC's holdings in Teledyne Technologies were worth $411,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of TDY. Beacon Investment Advisory Services Inc. bought a new stake in shares of Teledyne Technologies in the 3rd quarter valued at $214,000. Benjamin Edwards Inc. boosted its position in Teledyne Technologies by 1,030.2% during the third quarter. Benjamin Edwards Inc. now owns 1,085 shares of the scientific and technical instruments company's stock valued at $475,000 after acquiring an additional 989 shares during the last quarter. Paloma Partners Management Co bought a new position in shares of Teledyne Technologies in the 3rd quarter worth about $486,000. Caisse DE Depot ET Placement DU Quebec lifted its stake in shares of Teledyne Technologies by 11.2% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 288,826 shares of the scientific and technical instruments company's stock valued at $126,408,000 after purchasing an additional 28,979 shares during the period. Finally, Verition Fund Management LLC boosted its holdings in shares of Teledyne Technologies by 240.5% during the 3rd quarter. Verition Fund Management LLC now owns 36,524 shares of the scientific and technical instruments company's stock worth $15,985,000 after buying an additional 25,796 shares in the last quarter. 91.58% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

TDY has been the topic of several research analyst reports. Bank of America raised shares of Teledyne Technologies from a "neutral" rating to a "buy" rating and increased their target price for the stock from $450.00 to $550.00 in a research note on Friday, November 8th. StockNews.com upgraded Teledyne Technologies from a "hold" rating to a "buy" rating in a research note on Wednesday, October 2nd. TD Cowen upped their price target on Teledyne Technologies from $450.00 to $500.00 and gave the stock a "buy" rating in a research note on Thursday, October 24th. 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 note on Monday, November 11th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $517.50.

Insiders Place Their Bets

In related news, Chairman Robert Mehrabian sold 46,075 shares of Teledyne Technologies stock in a transaction on Monday, November 11th. The stock was sold at an average price of $487.33, for a total transaction of $22,453,729.75. Following the sale, the chairman now directly owns 171,802 shares in the company, valued at approximately $83,724,268.66. This trade represents a 21.15 % 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. Insiders own 2.14% of the company's stock.

Teledyne Technologies Stock Down 0.5 %

Shares of TDY traded down $2.17 on Thursday, reaching $476.72. The company's stock had a trading volume of 189,891 shares, compared to its average volume of 241,342. Teledyne Technologies Incorporated has a twelve month low of $355.41 and a twelve month high of $492.00. The stock has a market capitalization of $22.22 billion, a PE ratio of 24.21, a PEG 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. The firm has a fifty day moving average of $462.84 and a 200-day moving average of $426.47.

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 firm had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.42 billion. Teledyne Technologies had a return on equity of 10.02% and a net margin of 16.88%. The company's quarterly revenue was up 2.9% compared to the same quarter last year. During the same period in the prior year, the business posted $5.05 earnings per share. Equities analysts predict that Teledyne Technologies Incorporated will post 19.45 EPS for the current 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.