ING Groep NV Takes Position in Teledyne Technologies Incorporated (NYSE:TDY)

ING Groep NV purchased a new stake in Teledyne Technologies Incorporated (NYSE:TDY) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 2,430 shares of the scientific and technical instruments company’s stock, valued at approximately $1,064,000.

Several other large investors have also recently bought and sold shares of the company. Wolff Wiese Magana LLC bought a new stake in shares of Teledyne Technologies during the third quarter worth $27,000. American National Bank acquired a new stake in Teledyne Technologies in the second quarter worth about $28,000. Innealta Capital LLC acquired a new position in Teledyne Technologies during the 2nd quarter valued at about $28,000. Tortoise Investment Management LLC boosted 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. Finally, Crewe Advisors LLC boosted its stake in shares of Teledyne Technologies by 319.0% in the 2nd quarter. Crewe Advisors LLC now owns 88 shares of the scientific and technical instruments company’s stock valued at $34,000 after purchasing an additional 67 shares during the last quarter. Institutional investors and hedge funds own 91.58% of the company’s stock.

Insider Activity

In other Teledyne Technologies news, Chairman Robert Mehrabian sold 46,075 shares of Teledyne Technologies 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 sale, the chairman now owns 171,802 shares of the company’s stock, valued at $83,724,268.66. This trade represents a 21.15 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 2.14% of the company’s stock.

Analysts Set New Price Targets

TDY has been the topic of a number of recent research reports. 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 note on Thursday, October 24th. Vertical Research began coverage on Teledyne Technologies in a research report on Tuesday, July 23rd. They issued a “buy” rating and a $470.00 price target on the stock. Bank of America raised Teledyne Technologies from a “neutral” rating to a “buy” rating and increased their target price for the company from $450.00 to $550.00 in a research note on Friday, November 8th. StockNews.com upgraded Teledyne Technologies from a “hold” rating to a “buy” rating in a research report on Wednesday, October 2nd. Finally, Needham & Company LLC increased their price target 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. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Teledyne Technologies presently has an average rating of “Buy” and a consensus price target of $517.50.

Teledyne Technologies Stock Performance

TDY stock opened at $470.15 on Monday. Teledyne Technologies Incorporated has a 1-year low of $355.41 and a 1-year high of $492.00. The company has a current ratio of 2.00, a quick ratio of 1.35 and a debt-to-equity ratio of 0.28. The firm has a market cap of $21.91 billion, a PE ratio of 23.77, a P/E/G ratio of 3.26 and a beta of 1.01. The business’s 50-day moving average price is $450.27 and its two-hundred day moving average price is $418.77.

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