BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Sells 1,162 Shares of Teledyne Technologies Incorporated (NYSE:TDY)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp cut its holdings in Teledyne Technologies Incorporated (NYSE:TDY - Free Report) by 12.8% in the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 7,913 shares of the scientific and technical instruments company's stock after selling 1,162 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp's holdings in Teledyne Technologies were worth $3,463,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Wolff Wiese Magana LLC purchased a new position in shares of Teledyne Technologies in the third quarter valued at approximately $27,000. American National Bank acquired a new stake in shares of Teledyne Technologies in the second quarter valued at $28,000. Brooklyn Investment Group acquired a new stake in shares of Teledyne Technologies in the third quarter valued at $32,000. Innealta Capital LLC acquired a new stake in shares of Teledyne Technologies in the second quarter valued at $28,000. Finally, Tortoise Investment Management LLC grew its stake in Teledyne Technologies by 48.0% during the 2nd quarter. Tortoise Investment Management LLC now owns 74 shares of the scientific and technical instruments company's stock worth $29,000 after purchasing an additional 24 shares in the last quarter. 91.58% of the stock is currently owned by hedge funds and other institutional investors.

Teledyne Technologies Trading Up 0.1 %

Shares of NYSE TDY traded up $0.37 during midday trading on Wednesday, hitting $478.89. The stock had a trading volume of 143,657 shares, compared to its average volume of 241,562. 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 1-year low of $355.41 and a 1-year high of $492.00. The company has a fifty day moving average price of $462.84 and a 200 day moving average price of $426.47. The company has a market capitalization of $22.32 billion, a price-to-earnings ratio of 24.21, a PEG ratio of 3.33 and a beta of 1.01.

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, beating the consensus estimate of $4.97 by $0.13. The firm had revenue of $1.44 billion for 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 firm's quarterly revenue was up 2.9% on a year-over-year basis. During the same period in the prior year, the company posted $5.05 earnings per share. On average, analysts predict that Teledyne Technologies Incorporated will post 19.45 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Bank of America raised Teledyne Technologies from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $450.00 to $550.00 in a research report on Friday, November 8th. StockNews.com raised Teledyne Technologies from a "hold" rating to a "buy" rating in a research note on Wednesday, October 2nd. Needham & Company LLC boosted their target price on Teledyne Technologies from $528.00 to $550.00 and gave the stock a "buy" rating in a research report on Monday, November 11th. Finally, TD Cowen upped their price target on Teledyne Technologies from $450.00 to $500.00 and gave the stock a "buy" rating in a report on Thursday, October 24th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Teledyne Technologies presently has an average rating of "Buy" and a consensus target price of $517.50.

Insider Activity at Teledyne Technologies

In other news, Chairman Robert Mehrabian sold 46,075 shares of Teledyne Technologies 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 transaction, 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 transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.88% of the stock is currently 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.