Grandfield & Dodd LLC Grows Holdings in Teledyne Technologies Incorporated (NYSE:TDY)

Grandfield & Dodd LLC increased its stake in Teledyne Technologies Incorporated (NYSE:TDY) by 2.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 35,191 shares of the scientific and technical instruments company’s stock after buying an additional 852 shares during the period. Grandfield & Dodd LLC’s holdings in Teledyne Technologies were worth $15,402,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Wolff Wiese Magana LLC bought a new stake in shares of Teledyne Technologies in the 3rd quarter worth about $27,000. American National Bank bought a new position in shares of Teledyne Technologies during the second quarter worth about $28,000. Innealta Capital LLC acquired a new position in Teledyne Technologies in the second quarter worth about $28,000. Tortoise Investment Management LLC increased its holdings in Teledyne Technologies by 48.0% in the second quarter. Tortoise Investment Management LLC now owns 74 shares of the scientific and technical instruments company’s stock valued at $29,000 after buying an additional 24 shares during the last quarter. Finally, Crewe Advisors LLC raised its stake in Teledyne Technologies by 319.0% during the second quarter. Crewe Advisors LLC now owns 88 shares of the scientific and technical instruments company’s stock valued at $34,000 after buying an additional 67 shares in the last quarter. 91.58% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Teledyne Technologies

In related news, Chairman Robert Mehrabian sold 46,075 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $487.33, for a total value of $22,453,729.75. Following the completion of the sale, the chairman now owns 171,802 shares of the company’s stock, valued at $83,724,268.66. This represents a 21.15 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 1.88% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on TDY shares. Vertical Research initiated coverage on Teledyne Technologies in a report on Tuesday, July 23rd. They issued a “buy” rating and a $470.00 price target for the company. TD Cowen boosted their target price 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. Needham & Company LLC raised their target price on shares of Teledyne Technologies from $528.00 to $550.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Bank of America raised Teledyne Technologies from a “neutral” rating to a “buy” rating and upped 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 report on Wednesday, October 2nd. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $517.50.

Teledyne Technologies Price Performance

NYSE TDY opened at $464.84 on Wednesday. The company has a 50-day moving average price of $451.10 and a two-hundred day moving average price of $419.59. Teledyne Technologies Incorporated has a 52 week low of $355.41 and a 52 week high of $492.00. The stock has a market cap of $21.66 billion, a price-to-earnings ratio of 23.50, a price-to-earnings-growth ratio of 3.26 and a beta of 1.01. The company has a current ratio of 2.00, a quick ratio of 1.35 and a debt-to-equity ratio of 0.28.

Teledyne Technologies (NYSE:TDY) 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, topping analysts’ consensus estimates 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 analyst estimates of $1.42 billion. During the same period in the prior year, the company posted $5.05 EPS. The business’s revenue for the quarter was up 2.9% compared to the same quarter last year. Analysts forecast 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.