Weiss Asset Management LP Takes Position in Teledyne Technologies Incorporated (NYSE:TDY)

Weiss Asset Management LP bought a new stake in shares of Teledyne Technologies Incorporated (NYSE:TDY - Free Report) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 6,632 shares of the scientific and technical instruments company's stock, valued at approximately $2,903,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Wolff Wiese Magana LLC acquired a new position in shares of Teledyne Technologies during the 3rd quarter worth about $27,000. American National Bank acquired a new position in shares of Teledyne Technologies during the 2nd quarter worth about $28,000. Innealta Capital LLC acquired a new position in shares of Teledyne Technologies during the 2nd quarter worth about $28,000. 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 valued at $29,000 after acquiring an additional 24 shares in the last quarter. Finally, Brooklyn Investment Group purchased a new stake in Teledyne Technologies during the 3rd quarter valued at about $32,000. 91.58% of the stock is currently owned by institutional investors and hedge funds.

Teledyne Technologies Stock Down 0.7 %

Teledyne Technologies stock traded down $3.17 during mid-day trading on Friday, reaching $473.55. 255,053 shares of the company's stock were exchanged, compared to its average volume of 244,530. The company has a market cap of $22.07 billion, a P/E ratio of 23.94, a P/E/G ratio of 3.32 and a beta of 1.01. Teledyne Technologies Incorporated has a twelve month low of $355.41 and a twelve month high of $492.00. The company has a quick ratio of 1.35, a current ratio of 2.00 and a debt-to-equity ratio of 0.28. The company has a fifty day moving average of $464.41 and a 200-day moving average of $427.42.

Teledyne Technologies (NYSE:TDY - Get Free Report) last announced its quarterly earnings data 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 business had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.42 billion. During the same period last year, the business earned $5.05 EPS. The company's revenue was up 2.9% on a year-over-year basis. Sell-side analysts expect that Teledyne Technologies Incorporated will post 19.45 EPS for the current year.

Insider Activity at Teledyne Technologies

In other news, Chairman Robert Mehrabian sold 3,925 shares of Teledyne Technologies stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $490.50, for a total value of $1,925,212.50. Following the sale, the chairman now owns 171,802 shares of the company's stock, valued at $84,268,881. The trade was a 2.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.14% of the company's stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Bank of America raised shares of Teledyne Technologies from a "neutral" rating to a "buy" rating and increased their price target for the company from $450.00 to $550.00 in a research note on Friday, November 8th. Needham & Company LLC increased 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. TD Cowen increased 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, StockNews.com raised shares of Teledyne Technologies from a "hold" rating to a "buy" rating in a research report on Wednesday, October 2nd. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has a consensus rating of "Buy" and an average 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.