Empirical Finance LLC Increases Stock Position in Teledyne Technologies Incorporated (NYSE:TDY)

Empirical Finance LLC raised its holdings in shares of Teledyne Technologies Incorporated (NYSE:TDY) by 2.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,521 shares of the scientific and technical instruments company’s stock after purchasing an additional 37 shares during the period. Empirical Finance LLC’s holdings in Teledyne Technologies were worth $666,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of TDY. Tortoise Investment Management LLC increased its holdings in 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 worth $29,000 after buying an additional 24 shares in the last quarter. Metis Global Partners LLC grew its stake in shares of Teledyne Technologies by 1.6% in the third quarter. Metis Global Partners LLC now owns 1,514 shares of the scientific and technical instruments company’s stock worth $663,000 after acquiring an additional 24 shares during the period. Crumly & Associates Inc. raised its holdings in shares of Teledyne Technologies by 3.8% during 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 during the last quarter. Bleakley Financial Group LLC lifted its position in Teledyne Technologies by 4.0% during the third quarter. Bleakley Financial Group LLC now owns 681 shares of the scientific and technical instruments company’s stock valued at $298,000 after purchasing an additional 26 shares during the period. Finally, Summit Trail Advisors LLC boosted its holdings in Teledyne Technologies by 3.9% in the second quarter. Summit Trail Advisors LLC now owns 720 shares of the scientific and technical instruments company’s stock worth $279,000 after purchasing an additional 27 shares during the last quarter. Institutional investors own 91.58% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on TDY. Vertical Research initiated coverage on shares of Teledyne Technologies in a research note on Tuesday, July 23rd. They set a “buy” rating and a $470.00 target price for the company. StockNews.com raised Teledyne Technologies from a “hold” rating to a “buy” rating in a report on Wednesday, October 2nd. Needham & Company LLC boosted their price target on Teledyne Technologies from $528.00 to $550.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Bank of America upgraded shares of Teledyne Technologies from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $450.00 to $550.00 in a research note on Friday, November 8th. Finally, TD Cowen boosted their target price 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. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $517.50.

Teledyne Technologies Stock Performance

Shares of TDY opened at $470.15 on Monday. The business has a 50-day simple moving average of $450.27 and a two-hundred day simple moving average of $418.77. The company has a quick ratio of 1.35, a current ratio of 2.00 and a debt-to-equity ratio of 0.28. Teledyne Technologies Incorporated has a 52 week low of $355.41 and a 52 week high of $492.00. The stock has a market cap of $21.91 billion, a price-to-earnings ratio of 23.77, a PEG ratio of 3.26 and a beta of 1.01.

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. Teledyne Technologies had a net margin of 16.88% and a return on equity of 10.02%. The company had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.42 billion. During the same period in the prior year, the firm posted $5.05 EPS. The firm’s quarterly revenue was up 2.9% compared to the same quarter last year. On average, analysts expect that Teledyne Technologies Incorporated will post 19.45 EPS for the current year.

Insider Transactions at Teledyne Technologies

In related news, Chairman Robert Mehrabian sold 3,925 shares of the company’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $490.50, for a total value of $1,925,212.50. Following the completion of the transaction, the chairman now owns 171,802 shares of the company’s stock, valued at approximately $84,268,881. This represents a 2.23 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 2.14% of the company’s stock.

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.