JPMorgan Chase & Co. Grows Stock Holdings in Teledyne Technologies Incorporated (NYSE:TDY)

JPMorgan Chase & Co. lifted its position in Teledyne Technologies Incorporated (NYSE:TDY - Free Report) by 6.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,150,065 shares of the scientific and technical instruments company's stock after acquiring an additional 64,617 shares during the quarter. JPMorgan Chase & Co. owned 2.47% of Teledyne Technologies worth $503,338,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in TDY. Principal Financial Group Inc. boosted its position in Teledyne Technologies by 1.7% during the 3rd quarter. Principal Financial Group Inc. now owns 55,849 shares of the scientific and technical instruments company's stock valued at $24,443,000 after acquiring an additional 915 shares in the last quarter. B. Riley Wealth Advisors Inc. boosted its position in Teledyne Technologies by 14.1% during the third quarter. B. Riley Wealth Advisors Inc. now owns 4,543 shares of the scientific and technical instruments company's stock valued at $1,990,000 after purchasing an additional 563 shares in the last quarter. Tidal Investments LLC grew its stake in Teledyne Technologies by 26.7% in the third quarter. Tidal Investments LLC now owns 5,486 shares of the scientific and technical instruments company's stock valued at $2,401,000 after purchasing an additional 1,157 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new position in Teledyne Technologies in the third quarter worth about $39,000. Finally, Sanctuary Advisors LLC boosted its holdings in shares of Teledyne Technologies by 12.8% in the 3rd quarter. Sanctuary Advisors LLC now owns 14,896 shares of the scientific and technical instruments company's stock valued at $7,205,000 after buying an additional 1,692 shares in the last quarter. 91.58% of the stock is owned by hedge funds and other institutional investors.

Teledyne Technologies Stock Performance

Shares of NYSE:TDY traded down $5.13 during trading on Friday, hitting $471.44. The stock had a trading volume of 201,156 shares, compared to its average volume of 241,709. 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 12-month low of $355.41 and a 12-month high of $492.00. The stock has a market capitalization of $21.97 billion, a price-to-earnings ratio of 23.83, a price-to-earnings-growth ratio of 3.30 and a beta of 1.01. The stock has a 50-day simple moving average of $472.43 and a two-hundred day simple moving average of $435.70.

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 (EPS) for the quarter, topping analysts' consensus estimates of $4.97 by $0.13. The company 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 revenue for the quarter was up 2.9% compared to the same quarter last year. During the same period last year, the firm posted $5.05 EPS. On average, equities research analysts expect that Teledyne Technologies Incorporated will post 19.45 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts recently commented on the stock. UBS Group started coverage on shares of Teledyne Technologies in a research note on Tuesday, December 10th. They set a "buy" rating and a $585.00 price objective for the company. Needham & Company LLC increased their price objective on Teledyne Technologies from $528.00 to $550.00 and gave the company a "buy" rating in a report on Monday, November 11th. StockNews.com upgraded Teledyne Technologies from a "hold" rating to a "buy" rating in a research note on Wednesday, October 2nd. Bank of America upgraded Teledyne Technologies from a "neutral" rating to a "buy" rating and increased their price target for the company from $450.00 to $550.00 in a research note on Friday, November 8th. Finally, TD Cowen boosted 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. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $531.00.

Insider Activity

In related news, Vice Chairman Jason Vanwees sold 1,500 shares of the firm's stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $488.71, for a total value of $733,065.00. Following the transaction, the insider now directly owns 2,900 shares of the company's stock, valued at approximately $1,417,259. This trade represents a 34.09 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman Robert Mehrabian sold 46,075 shares of Teledyne Technologies stock in a transaction that occurred on 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 completion of the sale, the chairman now directly owns 171,802 shares in the company, valued at $83,724,268.66. This represents a 21.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 53,525 shares of company stock valued at $26,080,464 in the last quarter. 2.14% of the stock is currently owned by company insiders.

Teledyne Technologies Company 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.