Connor Clark & Lunn Investment Management Ltd. Sells 12,391 Shares of Teledyne Technologies Incorporated (NYSE:TDY)

Connor Clark & Lunn Investment Management Ltd. reduced its position in shares of Teledyne Technologies Incorporated (NYSE:TDY) by 77.2% in the third quarter, Holdings Channel reports. The firm owned 3,654 shares of the scientific and technical instruments company’s stock after selling 12,391 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Teledyne Technologies were worth $1,599,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in TDY. Kayne Anderson Rudnick Investment Management LLC increased its stake in Teledyne Technologies by 17.8% in the 2nd 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 acquiring an additional 186,849 shares during the last quarter. Assenagon Asset Management S.A. increased its position in shares of Teledyne Technologies by 235.6% in the second quarter. Assenagon Asset Management S.A. now owns 125,245 shares of the scientific and technical instruments company’s stock worth $48,593,000 after purchasing an additional 87,925 shares during the last quarter. International Assets Investment Management LLC raised its stake in Teledyne Technologies by 44,457.2% in the third quarter. International Assets Investment Management LLC now owns 73,965 shares of the scientific and technical instruments company’s stock valued at $32,372,000 after purchasing an additional 73,799 shares in the last quarter. Millennium Management LLC lifted its position in Teledyne Technologies by 88.4% during the second quarter. Millennium Management LLC now owns 127,752 shares of the scientific and technical instruments company’s stock valued at $49,565,000 after purchasing an additional 59,942 shares during the last quarter. Finally, Distillate Capital Partners LLC bought a new stake in Teledyne Technologies during the second quarter valued at approximately $14,529,000. Hedge funds and other institutional investors own 91.58% of the company’s stock.

Teledyne Technologies Stock Performance

NYSE TDY opened at $477.45 on Tuesday. The company has a 50-day simple moving average of $454.91 and a two-hundred day simple moving average of $421.97. Teledyne Technologies Incorporated has a 12-month low of $355.41 and a 12-month high of $492.00. The firm has a market cap of $22.25 billion, a price-to-earnings ratio of 24.14, a PEG ratio of 3.36 and a beta of 1.01. 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 (NYSE:TDY) last issued its earnings results 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. The company had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.42 billion. Teledyne Technologies had a return on equity of 10.02% and a net margin of 16.88%. Teledyne Technologies’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same period in the prior year, the business posted $5.05 EPS. On average, equities analysts forecast that Teledyne Technologies Incorporated will post 19.45 EPS for the current year.

Wall Street Analyst Weigh In

TDY has been the topic of several research reports. 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 raised their price target on Teledyne Technologies from $450.00 to $500.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Bank of America upgraded Teledyne Technologies from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $450.00 to $550.00 in a report on Friday, November 8th. Finally, Needham & Company LLC raised their price objective on Teledyne Technologies from $528.00 to $550.00 and gave the company a “buy” rating in a report on Monday, November 11th. Five research 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 an average price target of $517.50.

Insider Transactions at Teledyne Technologies

In other Teledyne Technologies news, Chairman Robert Mehrabian sold 46,075 shares of the stock in a transaction on Monday, November 11th. The shares were sold at an average price of $487.33, for a total transaction of $22,453,729.75. Following the completion of the sale, the chairman now owns 171,802 shares of the company’s stock, valued at $83,724,268.66. This represents a 21.15 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 1.88% 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.