Geode Capital Management LLC Boosts Stake in Teledyne Technologies Incorporated (NYSE:TDY)

Geode Capital Management LLC increased its position in Teledyne Technologies Incorporated (NYSE:TDY - Free Report) by 2.4% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 1,192,019 shares of the scientific and technical instruments company's stock after buying an additional 28,224 shares during the period. Geode Capital Management LLC owned about 2.56% of Teledyne Technologies worth $520,335,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the business. State Street Corp grew 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 purchasing an additional 37,884 shares in the last quarter. Janus Henderson Group PLC boosted its stake in Teledyne Technologies by 0.6% in the 3rd 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 purchasing an additional 9,368 shares during the period. Kayne Anderson Rudnick Investment Management LLC raised its position in shares of Teledyne Technologies by 17.8% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,238,091 shares of the scientific and technical instruments company's stock valued at $480,355,000 after buying an additional 186,849 shares during the last quarter. Earnest Partners LLC lifted its holdings in shares of Teledyne Technologies by 3.5% in the second quarter. Earnest Partners LLC now owns 398,642 shares of the scientific and technical instruments company's stock worth $154,665,000 after buying an additional 13,576 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of Teledyne Technologies by 9.4% during the second quarter. Dimensional Fund Advisors LP now owns 375,265 shares of the scientific and technical instruments company's stock worth $145,594,000 after acquiring an additional 32,339 shares during the last quarter. Hedge funds and other institutional investors own 91.58% of the company's stock.

Teledyne Technologies Trading Down 0.8 %

NYSE TDY traded down $3.91 on Friday, hitting $475.05. 172,525 shares of the stock were exchanged, compared to its average volume of 241,941. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.35 and a current ratio of 2.00. Teledyne Technologies Incorporated has a 52-week low of $355.41 and a 52-week high of $492.00. The firm has a market capitalization of $22.14 billion, a P/E ratio of 24.02, a P/E/G ratio of 3.29 and a beta of 1.01. The stock has a fifty day moving average price of $467.11 and a two-hundred day moving average price of $429.19.

Teledyne Technologies (NYSE:TDY - Get Free Report) last posted its quarterly earnings data on Wednesday, October 23rd. The scientific and technical instruments company reported $5.10 earnings per share for the quarter, topping analysts' consensus estimates of $4.97 by $0.13. Teledyne Technologies had a net margin of 16.88% and a return on equity of 10.02%. The company had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.42 billion. During the same period in the prior year, the company posted $5.05 EPS. The firm's revenue for the quarter was up 2.9% on a year-over-year basis. Research analysts forecast that Teledyne Technologies Incorporated will post 19.45 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

TDY has been the subject of a number of research analyst reports. StockNews.com upgraded 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 price objective for the stock from $450.00 to $550.00 in a research note on Friday, November 8th. UBS Group initiated coverage on Teledyne Technologies in a research report on Tuesday. They set a "buy" rating and a $585.00 target price for the company. TD Cowen upped their price target on shares of Teledyne Technologies from $450.00 to $500.00 and gave the company a "buy" rating in a research note on Thursday, October 24th. Finally, Needham & Company LLC increased their price objective on shares of Teledyne Technologies from $528.00 to $550.00 and gave the company a "buy" rating in a research report on Monday, November 11th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $531.00.

Insider Buying and Selling at Teledyne Technologies

In other Teledyne Technologies news, Chairman Robert Mehrabian sold 46,075 shares of the company's stock in a transaction dated 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 in the company, valued at $83,724,268.66. This represents a 21.15 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Michael T. Smith sold 2,025 shares of Teledyne Technologies stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $478.25, for a total transaction of $968,456.25. Following the sale, the director now directly owns 54,935 shares of the company's stock, valued at $26,272,663.75. This represents a 3.56 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 52,025 shares of company stock valued at $25,347,399 in the last quarter. 2.14% of the stock is owned by insiders.

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.