Signature Estate & Investment Advisors LLC Cuts Stock Position in Teledyne Technologies Incorporated (NYSE:TDY)

Signature Estate & Investment Advisors LLC cut its holdings in shares of Teledyne Technologies Incorporated (NYSE:TDY) by 28.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,943 shares of the scientific and technical instruments company’s stock after selling 1,953 shares during the period. Signature Estate & Investment Advisors LLC’s holdings in Teledyne Technologies were worth $2,163,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Empowered Funds LLC raised its holdings in Teledyne Technologies by 24.6% in the 1st quarter. Empowered Funds LLC now owns 588 shares of the scientific and technical instruments company’s stock worth $252,000 after purchasing an additional 116 shares during the period. US Bancorp DE increased its holdings in Teledyne Technologies by 1.7% during the 1st quarter. US Bancorp DE now owns 7,696 shares of the scientific and technical instruments company’s stock worth $3,304,000 after purchasing an additional 130 shares during the period. ProShare Advisors LLC lifted its stake in Teledyne Technologies by 14.3% in the first quarter. ProShare Advisors LLC now owns 9,907 shares of the scientific and technical instruments company’s stock worth $4,253,000 after acquiring an additional 1,238 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its position in shares of Teledyne Technologies by 15.6% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,978 shares of the scientific and technical instruments company’s stock worth $1,279,000 after purchasing an additional 401 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System increased its holdings in shares of Teledyne Technologies by 3.6% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 48,288 shares of the scientific and technical instruments company’s stock valued at $21,602,000 after acquiring an additional 1,665 shares during the last quarter. 91.58% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently commented on TDY. Vertical Research initiated coverage on Teledyne Technologies in a research report on Tuesday, July 23rd. They set a “buy” rating and a $470.00 target price on the stock. TD Cowen raised their price objective on shares of Teledyne Technologies from $450.00 to $500.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Needham & Company LLC boosted their price target on Teledyne Technologies from $528.00 to $550.00 and gave the stock a “buy” rating in a research note on Monday. Bank of America upgraded Teledyne Technologies from a “neutral” rating to a “buy” rating and increased their target price for the company from $450.00 to $550.00 in a report on Friday, November 8th. Finally, StockNews.com raised Teledyne Technologies from a “hold” rating to a “buy” rating in a research report on Wednesday, October 2nd. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $517.50.

Insider Activity at Teledyne Technologies

In related news, Chairman Robert Mehrabian sold 3,925 shares of Teledyne Technologies stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $490.50, for a total transaction of $1,925,212.50. Following the sale, the chairman now directly owns 171,802 shares of the company’s stock, valued at $84,268,881. This trade represents a 2.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.14% of the stock is currently owned by company insiders.

Teledyne Technologies Stock Down 2.1 %

TDY opened at $476.56 on Friday. The stock’s 50 day moving average price is $448.38 and its 200 day moving average price is $417.49. 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 stock has a market cap of $22.21 billion, a P/E ratio of 24.09, a P/E/G ratio of 3.38 and a beta of 1.01. Teledyne Technologies Incorporated has a 12 month low of $355.41 and a 12 month high of $492.00.

Teledyne Technologies (NYSE:TDY) last released its quarterly earnings data on Wednesday, October 23rd. The scientific and technical instruments company reported $5.10 earnings per share for the quarter, beating the consensus estimate of $4.97 by $0.13. The firm had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.42 billion. Teledyne Technologies had a net margin of 16.88% and a return on equity of 10.02%. The company’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $5.05 EPS. As a group, research analysts predict that Teledyne Technologies Incorporated will post 19.44 earnings per share for the current year.

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.