Teledyne Technologies Incorporated (NYSE:TDY) Shares Acquired by Quantinno Capital Management LP

Quantinno Capital Management LP lifted its position in Teledyne Technologies Incorporated (NYSE:TDY) by 73.5% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,078 shares of the scientific and technical instruments company’s stock after purchasing an additional 880 shares during the quarter. Quantinno Capital Management LP’s holdings in Teledyne Technologies were worth $910,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in TDY. Wolff Wiese Magana LLC acquired a new position in Teledyne Technologies in the third quarter valued at $27,000. American National Bank acquired a new position in Teledyne Technologies in the 2nd quarter valued at about $28,000. Brooklyn Investment Group purchased a new stake in Teledyne Technologies during the 3rd quarter valued at approximately $32,000. Innealta Capital LLC acquired a new stake in Teledyne Technologies during the 2nd quarter worth approximately $28,000. Finally, Tortoise Investment Management LLC grew its stake in shares of Teledyne Technologies by 48.0% in 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 purchasing an additional 24 shares during the last quarter. Hedge funds and other institutional investors own 91.58% of the company’s stock.

Teledyne Technologies Stock Down 0.8 %

Shares of NYSE TDY opened at $475.05 on Friday. 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 firm has a 50-day moving average price of $467.11 and a 200 day moving average price of $429.19. Teledyne Technologies Incorporated has a 52 week low of $355.41 and a 52 week high of $492.00. The stock has a market capitalization of $22.14 billion, a price-to-earnings ratio of 24.02, a price-to-earnings-growth ratio of 3.29 and a beta of 1.01.

Teledyne Technologies (NYSE:TDY) last posted its quarterly earnings results on Wednesday, October 23rd. The scientific and technical instruments company reported $5.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.97 by $0.13. The company had revenue of $1.44 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period last year, the firm earned $5.05 EPS. Equities research analysts anticipate that Teledyne Technologies Incorporated will post 19.45 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Michael T. Smith sold 2,025 shares of the stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $478.25, for a total value of $968,456.25. Following the sale, the director now directly owns 54,935 shares in the company, valued at $26,272,663.75. This represents a 3.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Robert Mehrabian sold 3,925 shares of Teledyne Technologies stock in a transaction that occurred on 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 transaction, the chairman now owns 171,802 shares of the company’s stock, valued at $84,268,881. This represents a 2.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 52,025 shares of company stock worth $25,347,399. 2.14% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on TDY. UBS Group initiated coverage on Teledyne Technologies in a research note on Tuesday. They set a “buy” rating and a $585.00 price target for the company. StockNews.com upgraded shares of Teledyne Technologies from a “hold” rating to a “buy” rating in a research note on Wednesday, October 2nd. Needham & Company LLC boosted their price target on shares of 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 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. Finally, Bank of America upgraded Teledyne Technologies from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $450.00 to $550.00 in a research report on Friday, November 8th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Teledyne Technologies presently has a consensus rating of “Buy” and an average target price of $531.00.

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.