State Street Corp Increases Stake in Teledyne Technologies Incorporated (NYSE:TDY)

State Street Corp increased its holdings in shares of Teledyne Technologies Incorporated (NYSE:TDY - Free Report) by 1.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,040,896 shares of the scientific and technical instruments company's stock after acquiring an additional 37,884 shares during the period. State Street Corp owned approximately 4.38% of Teledyne Technologies worth $893,219,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Tortoise Investment Management LLC grew its stake in shares of Teledyne Technologies by 48.0% in the 2nd quarter. Tortoise Investment Management LLC now owns 74 shares of the scientific and technical instruments company's stock worth $29,000 after buying an additional 24 shares during the last quarter. Metis Global Partners LLC grew its stake in shares of Teledyne Technologies by 1.6% in 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 acquiring an additional 24 shares during the last quarter. Crumly & Associates Inc. increased its holdings in shares of 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 valued at $296,000 after acquiring an additional 25 shares in the last quarter. Raymond James Trust N.A. raised its position in shares of Teledyne Technologies by 4.8% in the 3rd quarter. Raymond James Trust N.A. now owns 550 shares of the scientific and technical instruments company's stock worth $241,000 after purchasing an additional 25 shares during the last quarter. Finally, Bleakley Financial Group LLC grew its position in 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 valued at $298,000 after purchasing an additional 26 shares during the last quarter. Hedge funds and other institutional investors own 91.58% of the company's stock.

Insiders Place Their Bets

In other news, Chairman Robert Mehrabian sold 46,075 shares of the stock in a transaction 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 completion of the sale, the chairman now directly owns 171,802 shares of the company's stock, valued at $83,724,268.66. This represents a 21.15 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 2.14% of the company's stock.

Teledyne Technologies Stock Performance

NYSE:TDY traded down $3.17 during trading hours on Friday, reaching $473.55. The company had a trading volume of 255,053 shares, compared to its average volume of 244,530. The firm has a market cap of $22.07 billion, a price-to-earnings ratio of 23.94, a PEG ratio of 3.32 and a beta of 1.01. The company has a current ratio of 2.00, a quick ratio of 1.35 and a debt-to-equity ratio of 0.28. The firm's 50 day moving average price is $464.41 and its 200-day moving average price is $427.42. Teledyne Technologies Incorporated has a 52 week low of $355.41 and a 52 week high of $492.00.

Teledyne Technologies (NYSE:TDY - Get Free Report) last announced its 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 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%. The firm's quarterly revenue was up 2.9% compared to the same quarter last year. During the same period in the previous year, the business posted $5.05 earnings per share. On average, analysts forecast that Teledyne Technologies Incorporated will post 19.45 EPS for the current year.

Analyst Ratings Changes

TDY has been the topic of several analyst reports. Needham & Company LLC upped 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. 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 Teledyne Technologies from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $450.00 to $550.00 in a report on Friday, November 8th. Finally, TD Cowen increased their price objective on Teledyne Technologies from $450.00 to $500.00 and gave the company a "buy" rating in a research report on Thursday, October 24th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has an average rating of "Buy" and a consensus target price of $517.50.

Teledyne Technologies 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.