Janus Henderson Group PLC Grows Stock Position in Teledyne Technologies Incorporated (NYSE:TDY)

Janus Henderson Group PLC increased its holdings in shares of Teledyne Technologies Incorporated (NYSE:TDY) by 0.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,709,475 shares of the scientific and technical instruments company’s stock after buying an additional 9,368 shares during the quarter. Janus Henderson Group PLC’s holdings in Teledyne Technologies were worth $748,167,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the business. Kayne Anderson Rudnick Investment Management LLC lifted its position in Teledyne Technologies by 17.8% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,238,091 shares of the scientific and technical instruments company’s stock worth $480,355,000 after buying an additional 186,849 shares during the period. Earnest Partners LLC raised its holdings in shares of Teledyne Technologies by 3.5% in the 2nd quarter. Earnest Partners LLC now owns 398,642 shares of the scientific and technical instruments company’s stock worth $154,665,000 after purchasing an additional 13,576 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Teledyne Technologies by 9.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 375,265 shares of the scientific and technical instruments company’s stock worth $145,594,000 after purchasing an additional 32,339 shares during the period. Sei Investments Co. raised its holdings in shares of Teledyne Technologies by 4.4% in the 2nd quarter. Sei Investments Co. now owns 367,770 shares of the scientific and technical instruments company’s stock worth $142,689,000 after purchasing an additional 15,604 shares during the period. Finally, Bank of New York Mellon Corp raised its holdings in shares of Teledyne Technologies by 3.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 300,302 shares of the scientific and technical instruments company’s stock worth $116,511,000 after purchasing an additional 9,732 shares during the period. 91.58% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on TDY shares. Bank of America upgraded Teledyne Technologies from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $450.00 to $550.00 in a report on Friday, November 8th. Needham & Company LLC raised their target price on Teledyne Technologies from $528.00 to $550.00 and gave the company a “buy” rating in a report on Monday, November 11th. TD Cowen raised their target price on Teledyne Technologies from $450.00 to $500.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Finally, StockNews.com upgraded Teledyne Technologies from a “hold” rating to a “buy” rating in a report on Wednesday, October 2nd. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $517.50.

Teledyne Technologies Stock Performance

Shares of NYSE:TDY opened at $479.86 on Tuesday. The company has a market cap of $22.36 billion, a P/E ratio of 24.26, a PEG ratio of 3.37 and a beta of 1.01. 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 one year low of $355.41 and a one year high of $492.00. The business’s 50-day simple moving average is $461.07 and its 200 day simple moving average is $425.60.

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

Insider Buying and Selling at Teledyne Technologies

In other Teledyne Technologies news, Chairman Robert Mehrabian sold 3,925 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $490.50, for a total transaction of $1,925,212.50. Following the completion of the sale, the chairman now owns 171,802 shares in the company, valued at $84,268,881. This trade represents a 2.23 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.88% of the stock is owned by insiders.

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.