Verition Fund Management LLC Purchases 25,796 Shares of Teledyne Technologies Incorporated (NYSE:TDY)

Verition Fund Management LLC increased its holdings in shares of Teledyne Technologies Incorporated (NYSE:TDY - Free Report) by 240.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 36,524 shares of the scientific and technical instruments company's stock after buying an additional 25,796 shares during the period. Verition Fund Management LLC owned 0.08% of Teledyne Technologies worth $15,985,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Wolff Wiese Magana LLC bought a new stake in shares of Teledyne Technologies in the 3rd quarter valued at $27,000. American National Bank bought a new position in shares of Teledyne Technologies in the second quarter valued at $28,000. Innealta Capital LLC bought a new position in Teledyne Technologies during the second quarter worth about $28,000. Tortoise Investment Management LLC increased its position in Teledyne Technologies by 48.0% during the second 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. Finally, Brooklyn Investment Group acquired a new position in shares of Teledyne Technologies during the 3rd quarter worth approximately $32,000. 91.58% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently commented on TDY. Bank of America raised shares of 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. TD Cowen increased their price objective on Teledyne Technologies from $450.00 to $500.00 and gave the stock a "buy" rating in a research report on Thursday, October 24th. Needham & Company LLC upped their price target on shares of Teledyne Technologies from $528.00 to $550.00 and gave the company a "buy" rating in a research note on Monday, November 11th. Finally, StockNews.com raised shares of Teledyne Technologies from a "hold" rating to a "buy" rating in a report on Wednesday, October 2nd. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $517.50.

Insiders Place Their Bets

In other news, Chairman Robert Mehrabian sold 46,075 shares of the firm's stock in a transaction on 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 transaction, the chairman now owns 171,802 shares of the company's stock, valued at approximately $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 Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.14% of the company's stock.

Teledyne Technologies Price Performance

Shares of TDY stock traded down $0.42 on Friday, hitting $485.26. 157,620 shares of the company's stock were exchanged, compared to its average volume of 242,260. Teledyne Technologies Incorporated has a 12 month low of $355.41 and a 12 month high of $492.00. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.00 and a quick ratio of 1.35. The company has a 50 day moving average of $460.12 and a 200 day moving average of $424.70. The stock has a market cap of $22.61 billion, a P/E ratio of 24.58, a price-to-earnings-growth ratio of 3.37 and a beta of 1.01.

Teledyne Technologies (NYSE:TDY - Get Free Report) last issued its earnings results on Wednesday, October 23rd. The scientific and technical instruments company reported $5.10 earnings per share for the quarter, beating 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 firm had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.42 billion. During the same quarter last year, the business posted $5.05 earnings per share. The company's quarterly revenue was up 2.9% on a year-over-year basis. On average, equities research analysts predict that Teledyne Technologies Incorporated will post 19.45 EPS for the current year.

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.