Teledyne Technologies Incorporated (NYSE:TDY) Shares Bought by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. grew its position in shares of Teledyne Technologies Incorporated (NYSE:TDY) by 7.0% during the third quarter, Holdings Channel reports. The firm owned 4,640 shares of the scientific and technical instruments company’s stock after acquiring an additional 304 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Teledyne Technologies were worth $2,031,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Victory Capital Management Inc. lifted its stake in Teledyne Technologies by 1.8% during the 3rd quarter. Victory Capital Management Inc. now owns 31,436 shares of the scientific and technical instruments company’s stock worth $13,758,000 after acquiring an additional 563 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. increased its stake in Teledyne Technologies by 0.5% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 131,965 shares of the scientific and technical instruments company’s stock worth $57,756,000 after purchasing an additional 624 shares during the period. WCM Investment Management LLC lifted its position in shares of Teledyne Technologies by 30.5% during the third quarter. WCM Investment Management LLC now owns 3,595 shares of the scientific and technical instruments company’s stock worth $1,566,000 after purchasing an additional 841 shares in the last quarter. Venturi Wealth Management LLC boosted its stake in shares of Teledyne Technologies by 29.4% in the third quarter. Venturi Wealth Management LLC now owns 1,754 shares of the scientific and technical instruments company’s stock valued at $768,000 after purchasing an additional 398 shares during the period. Finally, Crumly & Associates Inc. grew its holdings in shares of Teledyne Technologies by 3.8% in the third quarter. Crumly & Associates Inc. now owns 677 shares of the scientific and technical instruments company’s stock valued at $296,000 after purchasing an additional 25 shares in the last quarter. 91.58% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have commented on TDY. TD Cowen raised their price target 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. Vertical Research began 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 boosted their target price on Teledyne Technologies from $528.00 to $550.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Bank of America raised Teledyne Technologies from a “neutral” rating to a “buy” rating and increased their price target for the company from $450.00 to $550.00 in a research 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 research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $517.50.

Insider Transactions at Teledyne Technologies

In related news, Chairman Robert Mehrabian sold 3,925 shares of Teledyne Technologies stock in a transaction on Friday, November 8th. The shares were 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 in the company, valued at $84,268,881. This trade represents a 2.23 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 2.14% of the company’s stock.

Teledyne Technologies Stock Performance

NYSE:TDY opened at $470.15 on Friday. Teledyne Technologies Incorporated has a 12 month low of $355.41 and a 12 month high of $492.00. 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 firm has a market capitalization of $21.91 billion, a PE ratio of 23.77, a price-to-earnings-growth ratio of 3.38 and a beta of 1.01. The business’s fifty day moving average price is $450.27 and its 200 day moving average price is $418.51.

Teledyne Technologies (NYSE:TDY) last issued its earnings results on Wednesday, October 23rd. The scientific and technical instruments company reported $5.10 earnings per share for the quarter, topping the consensus estimate of $4.97 by $0.13. The business had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.42 billion. Teledyne Technologies had a return on equity of 10.02% and a net margin of 16.88%. The business’s quarterly revenue was up 2.9% on a year-over-year basis. During the same quarter last year, the company earned $5.05 EPS. On average, sell-side analysts anticipate that Teledyne Technologies Incorporated will post 19.44 earnings per share for the current fiscal 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.