Teledyne Technologies Incorporated (NYSE:TDY) Shares Purchased by CIBC Asset Management Inc

CIBC Asset Management Inc lifted its position in Teledyne Technologies Incorporated (NYSE:TDY) by 4.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,147 shares of the scientific and technical instruments company’s stock after purchasing an additional 293 shares during the quarter. CIBC Asset Management Inc’s holdings in Teledyne Technologies were worth $3,317,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Brooklyn Investment Group acquired a new stake in shares of Teledyne Technologies in the 3rd quarter valued at about $32,000. Wilmington Savings Fund Society FSB acquired a new stake in Teledyne Technologies during the 3rd quarter worth approximately $39,000. Newbridge Financial Services Group Inc. acquired a new stake in Teledyne Technologies during the 4th quarter worth approximately $46,000. Exchange Traded Concepts LLC lifted its position in Teledyne Technologies by 432.0% during the 3rd quarter. Exchange Traded Concepts LLC now owns 133 shares of the scientific and technical instruments company’s stock worth $58,000 after acquiring an additional 108 shares during the period. Finally, Allworth Financial LP lifted its position in Teledyne Technologies by 15.1% during the 4th quarter. Allworth Financial LP now owns 206 shares of the scientific and technical instruments company’s stock worth $105,000 after acquiring an additional 27 shares during the period. 91.58% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on TDY shares. TD Cowen increased their price objective on Teledyne Technologies from $450.00 to $500.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Needham & Company LLC reaffirmed a “buy” rating and set a $585.00 price objective on shares of Teledyne Technologies in a research report on Wednesday, February 5th. UBS Group initiated coverage on Teledyne Technologies in a research report on Tuesday, December 10th. They set a “buy” rating and a $585.00 price objective for the company. Finally, Bank of America raised 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 research note on Friday, November 8th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, Teledyne Technologies currently has a consensus rating of “Buy” and a consensus target price of $538.00.

Teledyne Technologies Stock Performance

Shares of TDY stock opened at $501.19 on Friday. Teledyne Technologies Incorporated has a 12-month low of $355.41 and a 12-month high of $522.50. The company has a market cap of $23.36 billion, a price-to-earnings ratio of 29.09, a price-to-earnings-growth ratio of 3.11 and a beta of 1.03. The stock has a 50 day simple moving average of $484.90 and a 200-day simple moving average of $460.20. The company has a current ratio of 2.33, a quick ratio of 1.61 and a debt-to-equity ratio of 0.28.

Teledyne Technologies (NYSE:TDY) last released its quarterly earnings data on Wednesday, January 22nd. The scientific and technical instruments company reported $5.52 earnings per share for the quarter, beating 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 firm had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.45 billion. During the same period last year, the business posted $5.44 EPS. Teledyne Technologies’s quarterly revenue was up 5.4% on a year-over-year basis. On average, equities analysts forecast that Teledyne Technologies Incorporated will post 21.55 EPS for the current year.

Insider Activity at Teledyne Technologies

In related news, VP Cynthia Y. Belak sold 5,745 shares of the firm’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 completion of the transaction, the vice president now directly owns 4,962 shares of the company’s stock, valued at $2,522,383.08. This trade represents a 53.66 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman Robert Mehrabian sold 5,768 shares of the stock in a transaction on Friday, January 31st. The shares were sold at an average price of $518.22, for a total value of $2,989,092.96. Following the sale, the chairman now owns 144,553 shares in the company, valued at approximately $74,910,255.66. This trade represents a 3.84 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 32,190 shares of company stock valued at $16,386,864 in the last ninety days. Corporate insiders own 2.14% of the company’s stock.

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.