Tidal Investments LLC Raises Stake in Teledyne Technologies Incorporated (NYSE:TDY)

Tidal Investments LLC lifted its stake in shares of Teledyne Technologies Incorporated (NYSE:TDY - Free Report) by 26.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,486 shares of the scientific and technical instruments company's stock after buying an additional 1,157 shares during the quarter. Tidal Investments LLC's holdings in Teledyne Technologies were worth $2,401,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the stock. Wolff Wiese Magana LLC bought a new position in shares of Teledyne Technologies in the 3rd quarter worth approximately $27,000. American National Bank purchased a new stake in shares of Teledyne Technologies in the 2nd quarter worth about $28,000. Innealta Capital LLC bought a new position in shares of Teledyne Technologies in the 2nd quarter worth about $28,000. Tortoise Investment Management LLC lifted its position 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 valued at $29,000 after acquiring an additional 24 shares during the period. Finally, Brooklyn Investment Group bought a new stake in Teledyne Technologies during the third quarter worth about $32,000. 91.58% of the stock is owned by institutional investors.

Teledyne Technologies Stock Performance

Shares of NYSE TDY traded up $0.91 during mid-day trading on Monday, hitting $475.96. The stock had a trading volume of 264,000 shares, compared to its average volume of 242,032. 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 twelve month low of $355.41 and a twelve month high of $492.00. The company has a 50 day moving average of $467.79 and a two-hundred day moving average of $430.25. The firm has a market cap of $22.18 billion, a PE ratio of 24.10, a PEG ratio of 3.30 and a beta of 1.01.

Teledyne Technologies (NYSE:TDY - Get Free Report) last issued its quarterly earnings data 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. Teledyne Technologies had a return on equity of 10.02% and a net margin of 16.88%. The business had revenue of $1.44 billion during the quarter, compared to analysts' expectations of $1.42 billion. During the same quarter in the previous year, the firm posted $5.05 EPS. The company's revenue for the quarter was up 2.9% on a year-over-year basis. Research analysts predict that Teledyne Technologies Incorporated will post 19.45 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on TDY shares. Needham & Company LLC raised their price objective on Teledyne Technologies from $528.00 to $550.00 and gave the company a "buy" rating in a research report on Monday, November 11th. StockNews.com upgraded shares of Teledyne Technologies from a "hold" rating to a "buy" rating in a research note on Wednesday, October 2nd. UBS Group began coverage on shares of Teledyne Technologies in a research note on Tuesday, December 10th. They set a "buy" rating and a $585.00 price target on the stock. Bank of America raised 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 report on Friday, November 8th. 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 research report on Thursday, October 24th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Teledyne Technologies currently has a consensus rating of "Buy" and an average price target of $531.00.

Insider Activity

In related news, Chairman Robert Mehrabian sold 46,075 shares of the business's stock in a transaction that occurred on Monday, November 11th. The stock was 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 approximately $83,724,268.66. The trade was a 21.15 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael T. Smith sold 2,025 shares of the firm's stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $478.25, for a total value of $968,456.25. Following the completion of the transaction, the director now owns 54,935 shares in the company, valued at $26,272,663.75. The trade was 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 worth $25,347,399 in the last ninety days. Company insiders own 2.14% of the company's stock.

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.