Investment Management Corp of Ontario Boosts Position in Teledyne Technologies Incorporated (NYSE:TDY)

Investment Management Corp of Ontario raised its stake in Teledyne Technologies Incorporated (NYSE:TDY) by 48.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,528 shares of the scientific and technical instruments company’s stock after buying an additional 500 shares during the period. Investment Management Corp of Ontario’s holdings in Teledyne Technologies were worth $669,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in TDY. Wolff Wiese Magana LLC purchased a new stake in shares of Teledyne Technologies in the third quarter valued at approximately $27,000. American National Bank bought a new stake in Teledyne Technologies during the 2nd quarter valued at $28,000. Innealta Capital LLC purchased a new stake in shares of Teledyne Technologies in the 2nd quarter worth $28,000. Tortoise Investment Management LLC grew its position in shares of Teledyne Technologies by 48.0% during the 2nd quarter. Tortoise Investment Management LLC now owns 74 shares of the scientific and technical instruments company’s stock worth $29,000 after buying an additional 24 shares in the last quarter. Finally, Brooklyn Investment Group purchased a new position in shares of Teledyne Technologies during the third quarter valued at $32,000. 91.58% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

TDY has been the subject of a number of research reports. 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 raised shares of Teledyne Technologies from a “neutral” rating to a “buy” rating and upped their price target for the stock from $450.00 to $550.00 in a research report on Friday, November 8th. StockNews.com raised shares of Teledyne Technologies from a “hold” rating to a “buy” rating in a report on Wednesday, October 2nd. Finally, Needham & Company LLC upped their target price on Teledyne Technologies from $528.00 to $550.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $517.50.

Teledyne Technologies Stock Down 0.7 %

NYSE:TDY opened at $473.56 on Friday. The company’s 50-day simple moving average is $464.41 and its 200-day simple moving average is $427.28. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.35 and a current ratio of 2.00. Teledyne Technologies Incorporated has a fifty-two week low of $355.41 and a fifty-two week high of $492.00. The stock has a market capitalization of $22.07 billion, a P/E ratio of 23.94, a P/E/G ratio of 3.32 and a beta of 1.01.

Teledyne Technologies (NYSE:TDY) last posted its earnings results on Wednesday, October 23rd. The scientific and technical instruments company reported $5.10 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 analysts’ expectations of $1.42 billion. Teledyne Technologies had a net margin of 16.88% and a return on equity of 10.02%. Teledyne Technologies’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $5.05 earnings per share. On average, equities analysts anticipate that Teledyne Technologies Incorporated will post 19.45 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Teledyne Technologies news, Chairman Robert Mehrabian sold 46,075 shares of the firm’s stock in a transaction dated Monday, November 11th. The stock was 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 approximately $83,724,268.66. This trade represents a 21.15 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.14% of the stock is owned by company insiders.

Teledyne Technologies 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.