Acadian Asset Management LLC raised its position in shares of Teledyne Technologies Incorporated (NYSE:TDY) by 338.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,542 shares of the scientific and technical instruments company’s stock after acquiring an additional 23,577 shares during the period. Acadian Asset Management LLC owned approximately 0.09% of Teledyne Technologies worth $7,534,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds have also recently modified their holdings of the company. Reilly Financial Advisors LLC purchased a new stake in Teledyne Technologies during the 3rd quarter valued at $133,000. Independence Advisors LLC purchased a new stake in Teledyne Technologies during the 3rd quarter valued at $214,000. Telemus Capital LLC purchased a new stake in Teledyne Technologies during the 3rd quarter valued at $216,000. Cubist Systematic Strategies LLC raised its holdings in Teledyne Technologies by 128.2% during the 1st quarter. Cubist Systematic Strategies LLC now owns 890 shares of the scientific and technical instruments company’s stock valued at $167,000 after buying an additional 500 shares during the period. Finally, First Hawaiian Bank purchased a new stake in Teledyne Technologies during the 3rd quarter valued at $235,000. 83.65% of the stock is currently owned by institutional investors and hedge funds.
In other Teledyne Technologies news, VP Cynthia Y. Belak sold 6,000 shares of the company’s stock in a transaction on Friday, August 10th. The stock was sold at an average price of $232.22, for a total value of $1,393,320.00. Following the transaction, the vice president now owns 6,782 shares of the company’s stock, valued at approximately $1,574,916.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Robert Mehrabian sold 35,000 shares of the stock in a transaction on Thursday, August 9th. The stock was sold at an average price of $232.90, for a total value of $8,151,500.00. Following the transaction, the chairman now directly owns 259,252 shares in the company, valued at approximately $60,379,790.80. The disclosure for this sale can be found here. Corporate insiders own 3.73% of the company’s stock.
Shares of Teledyne Technologies stock opened at $230.37 on Wednesday. The firm has a market capitalization of $8.19 billion, a price-to-earnings ratio of 33.24, a price-to-earnings-growth ratio of 3.67 and a beta of 1.12. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.24 and a current ratio of 1.89. Teledyne Technologies Incorporated has a 52 week low of $172.80 and a 52 week high of $250.87.
Teledyne Technologies (NYSE:TDY) last announced its quarterly earnings data on Wednesday, October 24th. The scientific and technical instruments company reported $2.22 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.05 by $0.17. The company had revenue of $725.30 million for the quarter, compared to the consensus estimate of $710.70 million. Teledyne Technologies had a return on equity of 14.74% and a net margin of 10.86%. Teledyne Technologies’s quarterly revenue was up 9.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.96 EPS. On average, equities analysts expect that Teledyne Technologies Incorporated will post 8.25 EPS for the current fiscal year.
Several research firms recently weighed in on TDY. Jefferies Financial Group set a $222.00 price target on Teledyne Technologies and gave the company a “hold” rating in a report on Sunday, August 5th. Zacks Investment Research lowered Teledyne Technologies from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 12th. Finally, Needham & Company LLC increased their price target on Teledyne Technologies from $210.00 to $240.00 and gave the company a “buy” rating in a report on Monday, August 6th.
Teledyne Technologies Company Profile
Teledyne Technologies Incorporated provides instrumentation, digital imaging, aerospace and defense electronics, and engineered systems in the United States, Canada, the United Kingdom, France, and internationally. The company's Instrumentation segment offers monitoring and control instruments for marine, environmental, industrial, and other applications, as well as electronic test and measurement equipment; and power and communications connectivity devices for distributed instrumentation systems and sensor networks deployed in mission critical and harsh environments.
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