FMR LLC lessened its holdings in Teledyne Technologies Incorporated (NYSE:TDY - Free Report) by 29.6% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 257,113 shares of the scientific and technical instruments company's stock after selling 107,993 shares during the period. FMR LLC owned approximately 0.55% of Teledyne Technologies worth $112,528,000 at the end of the most recent reporting period.
Several other institutional investors also recently modified their holdings of the business. Wolff Wiese Magana LLC purchased a new position in Teledyne Technologies in the third quarter worth $27,000. American National Bank bought a new position in Teledyne Technologies during the second quarter valued at about $28,000. Innealta Capital LLC purchased a new stake in Teledyne Technologies during the second quarter worth about $28,000. Tortoise Investment Management LLC raised its position 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 worth $29,000 after acquiring an additional 24 shares during the period. Finally, Crewe Advisors LLC boosted its stake 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. 91.58% of the stock is owned by institutional investors.
Teledyne Technologies Stock Performance
Shares of Teledyne Technologies stock traded down $2.17 during trading hours on Thursday, reaching $476.72. The company had a trading volume of 189,891 shares, compared to its average volume of 241,342. The firm has a market cap of $22.22 billion, a PE ratio of 24.10, a price-to-earnings-growth ratio of 3.32 and a beta of 1.01. Teledyne Technologies Incorporated has a one year low of $355.41 and a one year high of $492.00. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.00 and a quick ratio of 1.35. The business has a fifty day simple moving average of $463.65 and a 200 day simple moving average of $426.82.
Teledyne Technologies (NYSE:TDY - Get Free Report) last issued its earnings results 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. Teledyne Technologies had a return on equity of 10.02% and a net margin of 16.88%. The business had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.42 billion. During the same quarter last year, the company earned $5.05 EPS. The firm's revenue was up 2.9% compared to the same quarter last year. On average, analysts anticipate that Teledyne Technologies Incorporated will post 19.45 earnings per share for the current fiscal year.
Analysts Set New Price Targets
Several equities research analysts have recently issued reports on TDY shares. Bank of America upgraded shares of Teledyne Technologies from a "neutral" rating to a "buy" rating and raised their price target for the stock from $450.00 to $550.00 in a research note on Friday, November 8th. TD Cowen boosted their target price on Teledyne Technologies from $450.00 to $500.00 and gave the company a "buy" rating in a research note on Thursday, October 24th. Needham & Company LLC increased their price target 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, StockNews.com upgraded 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 stock has a consensus rating of "Buy" and a consensus price target of $517.50.
Check Out Our Latest Analysis on TDY
Insider Activity at Teledyne Technologies
In other Teledyne Technologies news, Chairman Robert Mehrabian sold 46,075 shares of the firm'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 sale, the chairman now owns 171,802 shares of the company's stock, valued at $83,724,268.66. This trade represents a 21.15 % decrease in their position. 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.
Teledyne Technologies Profile
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Free Report)
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.
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