FORA Capital LLC Cuts Stock Position in Teledyne Technologies Incorporated (NYSE:TDY)

FORA Capital LLC reduced its holdings in shares of Teledyne Technologies Incorporated (NYSE:TDY - Free Report) by 46.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,635 shares of the scientific and technical instruments company's stock after selling 3,151 shares during the quarter. FORA Capital LLC's holdings in Teledyne Technologies were worth $1,591,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of TDY. Glenmede Trust Co. NA raised its position in Teledyne Technologies by 12.6% in the third quarter. Glenmede Trust Co. NA now owns 1,792 shares of the scientific and technical instruments company's stock worth $784,000 after acquiring an additional 201 shares during the period. Townsquare Capital LLC raised its holdings in shares of Teledyne Technologies by 6.4% in the 3rd quarter. Townsquare Capital LLC now owns 23,221 shares of the scientific and technical instruments company's stock worth $10,163,000 after purchasing an additional 1,398 shares during the period. BNP Paribas Financial Markets lifted its stake in Teledyne Technologies by 0.7% in the third quarter. BNP Paribas Financial Markets now owns 67,815 shares of the scientific and technical instruments company's stock valued at $29,680,000 after purchasing an additional 490 shares during the last quarter. Brooklyn Investment Group bought a new position in Teledyne Technologies during the third quarter valued at $32,000. Finally, Dai ichi Life Insurance Company Ltd increased its position in Teledyne Technologies by 195.2% in the third quarter. Dai ichi Life Insurance Company Ltd now owns 3,032 shares of the scientific and technical instruments company's stock worth $1,327,000 after buying an additional 2,005 shares during the last quarter. Hedge funds and other institutional investors own 91.58% of the company's stock.

Analysts Set New Price Targets

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

Insider Activity at Teledyne Technologies

In related news, Chairman Robert Mehrabian sold 46,075 shares of the firm's stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $487.33, for a total value of $22,453,729.75. Following the sale, the chairman now directly owns 171,802 shares of the company's stock, valued at $83,724,268.66. This trade represents 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. 1.88% of the stock is owned by corporate insiders.

Teledyne Technologies Price Performance

Shares of TDY traded up $6.65 during midday trading on Thursday, hitting $485.68. 201,541 shares of the company traded hands, compared to its average volume of 242,628. Teledyne Technologies Incorporated has a one year low of $355.41 and a one year high of $492.00. The firm has a market cap of $22.63 billion, a P/E ratio of 24.55, a PEG ratio of 3.31 and a beta of 1.01. 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 stock has a 50-day moving average of $458.07 and a 200-day moving average of $423.61.

Teledyne Technologies (NYSE:TDY - Get Free Report) last posted its earnings results on Wednesday, October 23rd. The scientific and technical instruments company reported $5.10 earnings per share for the quarter, topping analysts' consensus estimates of $4.97 by $0.13. The business had revenue of $1.44 billion for 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 revenue was up 2.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $5.05 EPS. As a group, sell-side analysts predict that Teledyne Technologies Incorporated will post 19.45 EPS for the current fiscal 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.