National Bank of Canada FI Buys 36,867 Shares of Teledyne Technologies Incorporated (NYSE:TDY)

National Bank of Canada FI lifted its stake in shares of Teledyne Technologies Incorporated (NYSE:TDY - Free Report) by 217.5% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 53,819 shares of the scientific and technical instruments company's stock after purchasing an additional 36,867 shares during the quarter. National Bank of Canada FI owned about 0.12% of Teledyne Technologies worth $23,554,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Tortoise Investment Management LLC lifted its position in shares of 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 in the last quarter. Metis Global Partners LLC boosted its holdings in shares of Teledyne Technologies by 1.6% during the third quarter. Metis Global Partners LLC now owns 1,514 shares of the scientific and technical instruments company's stock worth $663,000 after purchasing an additional 24 shares during the last quarter. Crumly & Associates Inc. increased its position in Teledyne Technologies by 3.8% during the third quarter. Crumly & Associates Inc. now owns 677 shares of the scientific and technical instruments company's stock worth $296,000 after purchasing an additional 25 shares during the last quarter. Raymond James Trust N.A. increased its stake in Teledyne Technologies by 4.8% during the third quarter. Raymond James Trust N.A. now owns 550 shares of the scientific and technical instruments company's stock worth $241,000 after acquiring an additional 25 shares during the last quarter. Finally, Bleakley Financial Group LLC grew its holdings in shares of Teledyne Technologies by 4.0% during the 3rd quarter. Bleakley Financial Group LLC now owns 681 shares of the scientific and technical instruments company's stock worth $298,000 after purchasing an additional 26 shares during the period. Institutional investors and hedge funds own 91.58% of the company's stock.

Insiders Place Their Bets

In related news, Chairman Robert Mehrabian sold 3,925 shares of Teledyne Technologies stock in a transaction on Friday, November 8th. The stock was sold at an average price of $490.50, for a total transaction of $1,925,212.50. Following the completion of the sale, the chairman now owns 171,802 shares of the company's stock, valued at approximately $84,268,881. This trade represents a 2.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.88% of the company's stock.

Teledyne Technologies Price Performance

Shares of TDY traded up $0.03 during mid-day trading on Tuesday, hitting $470.77. The company's stock had a trading volume of 367,049 shares, compared to its average volume of 242,071. Teledyne Technologies Incorporated has a fifty-two week low of $355.41 and a fifty-two week high of $492.00. The stock has a market capitalization of $21.94 billion, a price-to-earnings ratio of 23.80, a PEG ratio of 3.29 and a beta of 1.01. The firm has a 50-day moving average price of $465.70 and a 200 day moving average price of $428.52. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.00 and a quick ratio of 1.35.

Teledyne Technologies (NYSE:TDY - Get Free Report) last released its quarterly earnings data on Wednesday, October 23rd. The scientific and technical instruments company reported $5.10 earnings per share for the quarter, topping the consensus estimate of $4.97 by $0.13. The business had revenue of $1.44 billion during 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%. The company's revenue was up 2.9% compared to the same quarter last year. During the same period last year, the company posted $5.05 EPS. On average, research analysts predict that Teledyne Technologies Incorporated will post 19.45 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently issued reports on TDY shares. UBS Group began coverage on Teledyne Technologies in a report on Tuesday. They issued a "buy" rating and a $585.00 price target for the company. StockNews.com raised Teledyne Technologies from a "hold" rating to a "buy" rating in a research report on Wednesday, October 2nd. Bank of America raised shares of Teledyne Technologies from a "neutral" rating to a "buy" rating and increased their price objective for the company from $450.00 to $550.00 in a research report on Friday, November 8th. Needham & Company LLC upped their target price 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, TD Cowen raised their price objective on Teledyne Technologies from $450.00 to $500.00 and gave the company a "buy" rating in a research note on Thursday, October 24th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Teledyne Technologies presently has a consensus rating of "Buy" and a consensus price target of $531.00.

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.