Raymond James Financial Inc. Makes New $53.30 Million Investment in Teledyne Technologies Incorporated (NYSE:TDY)

Raymond James Financial Inc. bought a new position in shares of Teledyne Technologies Incorporated (NYSE:TDY - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 114,847 shares of the scientific and technical instruments company's stock, valued at approximately $53,304,000. Raymond James Financial Inc. owned approximately 0.25% of Teledyne Technologies at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the stock. State Street Corp lifted its position in shares of Teledyne Technologies by 1.9% during the third quarter. State Street Corp now owns 2,040,896 shares of the scientific and technical instruments company's stock worth $893,219,000 after acquiring an additional 37,884 shares in the last quarter. Janus Henderson Group PLC lifted its position in shares of Teledyne Technologies by 0.6% during the third quarter. Janus Henderson Group PLC now owns 1,709,475 shares of the scientific and technical instruments company's stock worth $748,167,000 after acquiring an additional 9,368 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Teledyne Technologies by 2.4% during the third quarter. Geode Capital Management LLC now owns 1,192,019 shares of the scientific and technical instruments company's stock worth $520,335,000 after acquiring an additional 28,224 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Teledyne Technologies by 6.0% during the third quarter. JPMorgan Chase & Co. now owns 1,150,065 shares of the scientific and technical instruments company's stock worth $503,338,000 after acquiring an additional 64,617 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its position in shares of Teledyne Technologies by 10.5% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 318,712 shares of the scientific and technical instruments company's stock worth $145,974,000 after acquiring an additional 30,157 shares in the last quarter. Hedge funds and other institutional investors own 91.58% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on TDY shares. Needham & Company LLC reaffirmed a "buy" rating and issued a $585.00 price target on shares of Teledyne Technologies in a report on Wednesday, February 5th. UBS Group started coverage on shares of Teledyne Technologies in a report on Tuesday, December 10th. They issued a "buy" rating and a $585.00 price target on the stock. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $538.00.

Remove Ads

Teledyne Technologies Stock Up 2.1 %

TDY opened at $489.12 on Wednesday. The stock has a market cap of $22.91 billion, a PE ratio of 28.39, a P/E/G ratio of 3.14 and a beta of 1.03. The company has a quick ratio of 1.61, a current ratio of 2.33 and a debt-to-equity ratio of 0.28. Teledyne Technologies Incorporated has a 52 week low of $355.41 and a 52 week high of $522.50. The business's fifty day simple moving average is $491.68 and its 200 day simple moving average is $468.57.

Teledyne Technologies (NYSE:TDY - Get Free Report) last released its earnings results on Wednesday, January 22nd. The scientific and technical instruments company reported $5.52 EPS for the quarter, beating analysts' consensus estimates of $5.23 by $0.29. The business had revenue of $1.50 billion for the quarter, compared to analysts' expectations of $1.45 billion. Teledyne Technologies had a return on equity of 9.94% and a net margin of 14.45%. The firm's revenue was up 5.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $5.44 earnings per share. As a group, research analysts expect that Teledyne Technologies Incorporated will post 21.55 earnings per share for the current fiscal year.

Insider Activity at Teledyne Technologies

In other news, EVP Melanie Susan Cibik sold 706 shares of Teledyne Technologies stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $519.96, for a total value of $367,091.76. Following the transaction, the executive vice president now owns 26,529 shares in the company, valued at approximately $13,794,018.84. The trade was a 2.59 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Vice Chairman Jason Vanwees sold 3,700 shares of Teledyne Technologies stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $520.06, for a total value of $1,924,222.00. Following the completion of the transaction, the insider now owns 51,324 shares in the company, valued at approximately $26,691,559.44. This represents a 6.72 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 36,596 shares of company stock valued at $18,678,177 over the last 90 days. 2.14% of the stock is owned by 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.