Teledyne Technologies Incorporated (NYSE:TDY) Shares Bought by Cibc World Markets Corp

Cibc World Markets Corp boosted its position in shares of Teledyne Technologies Incorporated (NYSE:TDY) by 14.1% in the fourth quarter, HoldingsChannel.com reports. The fund owned 7,335 shares of the scientific and technical instruments company’s stock after acquiring an additional 909 shares during the quarter. Cibc World Markets Corp’s holdings in Teledyne Technologies were worth $3,404,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TDY. Amundi lifted its holdings in shares of Teledyne Technologies by 11.9% in the 4th quarter. Amundi now owns 124,874 shares of the scientific and technical instruments company’s stock valued at $57,687,000 after buying an additional 13,244 shares during the period. Covea Finance lifted its holdings in shares of Teledyne Technologies by 25.1% in the 4th quarter. Covea Finance now owns 21,400 shares of the scientific and technical instruments company’s stock valued at $9,932,000 after buying an additional 4,300 shares during the period. ING Groep NV lifted its holdings in shares of Teledyne Technologies by 144.9% in the 4th quarter. ING Groep NV now owns 5,952 shares of the scientific and technical instruments company’s stock valued at $2,763,000 after buying an additional 3,522 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Teledyne Technologies by 6.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,150,065 shares of the scientific and technical instruments company’s stock valued at $503,338,000 after buying an additional 64,617 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in shares of Teledyne Technologies by 10.9% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 6,515 shares of the scientific and technical instruments company’s stock valued at $3,024,000 after buying an additional 640 shares during the period. Institutional investors and hedge funds own 91.58% of the company’s stock.

Wall Street Analysts Forecast Growth

TDY has been the subject of several analyst reports. UBS Group began coverage on Teledyne Technologies in a report on Tuesday, December 10th. They issued a “buy” rating and a $585.00 price objective for the company. Bank of America lifted their price target on Teledyne Technologies from $550.00 to $600.00 and gave the company a “buy” rating in a research note on Monday. Finally, Needham & Company LLC restated a “buy” rating and issued a $585.00 price target on shares of Teledyne Technologies in a research note on Wednesday, February 5th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Teledyne Technologies currently has an average rating of “Buy” and an average target price of $548.00.

Insiders Place Their Bets

In other Teledyne Technologies news, COO George C. Bobb III sold 6,308 shares of the business’s stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $507.77, for a total transaction of $3,203,013.16. Following the completion of the sale, the chief operating officer now directly owns 10,482 shares in the company, valued at approximately $5,322,445.14. The trade was a 37.57 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Cynthia Y. Belak sold 5,745 shares of the business’s stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $508.34, for a total value of $2,920,413.30. Following the sale, the vice president now owns 4,962 shares of the company’s stock, valued at approximately $2,522,383.08. This trade represents a 53.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 34,571 shares of company stock worth $17,709,721. Corporate insiders own 2.14% of the company’s stock.

Teledyne Technologies Price Performance

Shares of Teledyne Technologies stock opened at $499.60 on Friday. The company has a quick ratio of 1.61, a current ratio of 2.33 and a debt-to-equity ratio of 0.28. Teledyne Technologies Incorporated has a twelve month low of $355.41 and a twelve month high of $522.50. The business has a 50-day moving average price of $496.34 and a 200 day moving average price of $471.23. The firm has a market cap of $23.40 billion, a PE ratio of 29.00, a P/E/G ratio of 3.14 and a beta of 1.03.

Teledyne Technologies (NYSE:TDY) last posted its quarterly earnings data on Wednesday, January 22nd. The scientific and technical instruments company reported $5.52 EPS for the quarter, topping the consensus estimate of $5.23 by $0.29. Teledyne Technologies had a return on equity of 9.94% and a net margin of 14.45%. The company had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.45 billion. During the same period in the previous year, the business earned $5.44 EPS. Teledyne Technologies’s quarterly revenue was up 5.4% on a year-over-year basis. Sell-side analysts predict that Teledyne Technologies Incorporated will post 21.55 earnings per share for the current fiscal year.

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.