Portfolio Design Labs LLC Has $735,000 Position in Teledyne Technologies Incorporated (NYSE:TDY)

Portfolio Design Labs LLC cut its position in shares of Teledyne Technologies Incorporated (NYSE:TDY) by 80.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,680 shares of the scientific and technical instruments company’s stock after selling 6,832 shares during the quarter. Portfolio Design Labs LLC’s holdings in Teledyne Technologies were worth $735,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds 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 during the third quarter valued at approximately $27,000. American National Bank bought a new position in shares of Teledyne Technologies during the 2nd quarter worth about $28,000. Innealta Capital LLC acquired a new stake in shares of Teledyne Technologies during the 2nd quarter valued at about $28,000. Tortoise Investment Management LLC increased its stake 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 acquiring an additional 24 shares during the period. Finally, Crewe Advisors LLC raised its position in Teledyne Technologies by 319.0% in the second quarter. Crewe Advisors LLC now owns 88 shares of the scientific and technical instruments company’s stock worth $34,000 after purchasing an additional 67 shares in the last quarter. 91.58% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Teledyne Technologies

In other news, Chairman Robert Mehrabian sold 3,925 shares of the company’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $490.50, for a total value of $1,925,212.50. Following the completion of the sale, the chairman now directly owns 171,802 shares of the company’s stock, valued at $84,268,881. This represents a 2.23 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 1.88% of the company’s stock.

Teledyne Technologies Price Performance

Shares of TDY stock opened at $464.84 on Wednesday. The firm has a market cap of $21.66 billion, a price-to-earnings ratio of 23.50, a PEG ratio of 3.26 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. 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 stock has a 50-day moving average price of $451.10 and a 200 day moving average price of $419.59.

Teledyne Technologies (NYSE:TDY) last issued its quarterly earnings results on Wednesday, October 23rd. The scientific and technical instruments company reported $5.10 EPS for the quarter, topping the consensus estimate of $4.97 by $0.13. Teledyne Technologies had a net margin of 16.88% and a return on equity of 10.02%. The company had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.42 billion. During the same quarter in the previous year, the company earned $5.05 EPS. Teledyne Technologies’s revenue was up 2.9% on a year-over-year basis. Research analysts expect that Teledyne Technologies Incorporated will post 19.45 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on TDY. Vertical Research initiated coverage on Teledyne Technologies in a research note on Tuesday, July 23rd. They issued a “buy” rating and a $470.00 price objective on the stock. Needham & Company LLC increased their price objective on Teledyne Technologies from $528.00 to $550.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. TD Cowen upped their price objective on shares of Teledyne Technologies from $450.00 to $500.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Bank of America upgraded Teledyne Technologies from a “neutral” rating to a “buy” rating and increased their target price for the stock from $450.00 to $550.00 in a report on Friday, November 8th. 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, Based on data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $517.50.

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.