Royal London Asset Management Ltd. Grows Position in Teledyne Technologies Incorporated (NYSE:TDY)

Royal London Asset Management Ltd. lifted its stake in Teledyne Technologies Incorporated (NYSE:TDY - Free Report) by 7.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,942 shares of the scientific and technical instruments company's stock after buying an additional 1,444 shares during the period. Royal London Asset Management Ltd.'s holdings in Teledyne Technologies were worth $9,603,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the stock. Cetera Investment Advisers grew its position in Teledyne Technologies by 345.9% during the 1st quarter. Cetera Investment Advisers now owns 8,708 shares of the scientific and technical instruments company's stock worth $3,739,000 after purchasing an additional 6,755 shares during the last quarter. Cetera Advisors LLC grew its position in Teledyne Technologies by 146.3% during the 1st quarter. Cetera Advisors LLC now owns 1,441 shares of the scientific and technical instruments company's stock worth $619,000 after purchasing an additional 856 shares during the last quarter. CWM LLC grew its position in Teledyne Technologies by 8.7% during the 2nd quarter. CWM LLC now owns 674 shares of the scientific and technical instruments company's stock worth $261,000 after purchasing an additional 54 shares during the last quarter. OLD National Bancorp IN acquired a new stake in shares of Teledyne Technologies in the 2nd quarter worth $314,000. Finally, MJP Associates Inc. ADV lifted its stake in shares of Teledyne Technologies by 5.6% in the 2nd quarter. MJP Associates Inc. ADV now owns 604 shares of the scientific and technical instruments company's stock worth $234,000 after acquiring an additional 32 shares during the period. 91.58% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. StockNews.com upgraded shares of Teledyne Technologies from a "hold" rating to a "buy" rating in a research note on Wednesday, October 2nd. TD Cowen raised 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 raised their target price on shares of Teledyne Technologies from $528.00 to $550.00 and gave the stock a "buy" rating in a research note on Monday, November 11th. Finally, Bank of America upgraded shares of Teledyne Technologies from a "neutral" rating to a "buy" rating and raised their target price for the stock from $450.00 to $550.00 in a research note on Friday, November 8th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus price target of $517.50.

Insiders Place Their Bets

In other news, Chairman Robert Mehrabian sold 46,075 shares of Teledyne Technologies stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $487.33, for a total transaction 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. The trade was a 21.15 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 2.14% of the stock is currently owned by company insiders.

Teledyne Technologies Price Performance

Shares of NYSE TDY traded down $3.17 during midday trading on Friday, hitting $473.55. The company had a trading volume of 255,053 shares, compared to its average volume of 244,530. 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 twelve month low of $355.41 and a twelve month high of $492.00. The business has a 50-day simple moving average of $464.41 and a two-hundred day simple moving average of $427.42. The firm has a market capitalization of $22.07 billion, a price-to-earnings ratio of 23.94, a price-to-earnings-growth ratio of 3.32 and a beta of 1.01.

Teledyne Technologies (NYSE:TDY - Get Free Report) last announced its quarterly earnings data on Wednesday, October 23rd. The scientific and technical instruments company reported $5.10 EPS for the quarter, beating the consensus estimate of $4.97 by $0.13. The firm had revenue of $1.44 billion during the quarter, compared to analysts' expectations of $1.42 billion. Teledyne Technologies had a net margin of 16.88% and a return on equity of 10.02%. The business's revenue for the quarter was up 2.9% compared to the same quarter last year. During the same quarter last year, the business earned $5.05 earnings per share. Equities research analysts anticipate that Teledyne Technologies Incorporated will post 19.45 earnings per share for the current 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.