B. Riley Wealth Advisors Inc. Acquires 563 Shares of Teledyne Technologies Incorporated (NYSE:TDY)

B. Riley Wealth Advisors Inc. grew its holdings in Teledyne Technologies Incorporated (NYSE:TDY) by 14.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,543 shares of the scientific and technical instruments company’s stock after acquiring an additional 563 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in Teledyne Technologies were worth $1,990,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Sumitomo Mitsui Trust Holdings Inc. increased its stake in shares of Teledyne Technologies by 0.4% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 131,341 shares of the scientific and technical instruments company’s stock worth $50,958,000 after purchasing an additional 586 shares in the last quarter. Raymond James & Associates grew its stake in Teledyne Technologies by 6.1% during the second quarter. Raymond James & Associates now owns 100,752 shares of the scientific and technical instruments company’s stock valued at $39,090,000 after acquiring an additional 5,819 shares in the last quarter. Fifth Third Bancorp grew its stake in Teledyne Technologies by 3.5% during the second quarter. Fifth Third Bancorp now owns 8,215 shares of the scientific and technical instruments company’s stock valued at $3,187,000 after acquiring an additional 277 shares in the last quarter. Fifth Third Wealth Advisors LLC grew its stake in Teledyne Technologies by 71.5% during the second quarter. Fifth Third Wealth Advisors LLC now owns 861 shares of the scientific and technical instruments company’s stock valued at $334,000 after acquiring an additional 359 shares in the last quarter. Finally, Lecap Asset Management Ltd. purchased a new position in Teledyne Technologies during the second quarter valued at $2,302,000. 91.58% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have commented on the stock. StockNews.com upgraded shares of Teledyne Technologies from a “hold” rating to a “buy” rating in a research report on Wednesday, October 2nd. TD Cowen increased 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. UBS Group assumed coverage on shares of Teledyne Technologies in a research report on Tuesday, December 10th. They set a “buy” rating and a $585.00 price objective for the company. Needham & Company LLC increased their price objective on shares of Teledyne Technologies from $528.00 to $550.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Finally, Bank of America upgraded shares of Teledyne Technologies from a “neutral” rating to a “buy” rating and increased their price objective for the company from $450.00 to $550.00 in a research report on Friday, November 8th. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $531.00.

Teledyne Technologies Price Performance

Teledyne Technologies stock opened at $475.05 on Monday. The firm has a 50-day moving average price of $467.79 and a 200-day moving average price of $430.25. The firm has a market capitalization of $22.14 billion, a PE ratio of 24.02, a price-to-earnings-growth ratio of 3.30 and a beta of 1.01. The company has a current ratio of 2.00, a quick ratio of 1.35 and a debt-to-equity ratio of 0.28. Teledyne Technologies Incorporated has a 12-month low of $355.41 and a 12-month high of $492.00.

Teledyne Technologies (NYSE:TDY) last released its earnings results on Wednesday, October 23rd. The scientific and technical instruments company reported $5.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.97 by $0.13. The firm had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.42 billion. Teledyne Technologies had a net margin of 16.88% and a return on equity of 10.02%. The business’s revenue was up 2.9% on a year-over-year basis. During the same quarter last year, the business earned $5.05 EPS. As a group, equities research analysts forecast that Teledyne Technologies Incorporated will post 19.45 EPS for the current year.

Insider Activity at Teledyne Technologies

In other news, Director Michael T. Smith sold 2,025 shares of Teledyne Technologies 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 transaction, the director now owns 54,935 shares of the company’s stock, valued at $26,272,663.75. The trade was a 3.56 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Robert Mehrabian sold 46,075 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $487.33, for a total transaction of $22,453,729.75. Following the sale, the chairman now directly owns 171,802 shares in the company, valued at approximately $83,724,268.66. This represents a 21.15 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 52,025 shares of company stock worth $25,347,399 in the last 90 days. 2.14% of the stock is owned by corporate 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.