Teledyne Technologies Incorporated (NYSE:TDY) Holdings Trimmed by Commerce Bank

Commerce Bank lowered its holdings in Teledyne Technologies Incorporated (NYSE:TDY) by 6.5% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,328 shares of the scientific and technical instruments company’s stock after selling 93 shares during the period. Commerce Bank’s holdings in Teledyne Technologies were worth $581,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Tidal Investments LLC increased its stake in Teledyne Technologies by 131.5% in the 1st quarter. Tidal Investments LLC now owns 3,737 shares of the scientific and technical instruments company’s stock valued at $1,604,000 after buying an additional 2,123 shares during the period. Royal London Asset Management Ltd. grew its holdings in shares of Teledyne Technologies by 11.7% during the 2nd quarter. Royal London Asset Management Ltd. now owns 20,498 shares of the scientific and technical instruments company’s stock valued at $7,953,000 after acquiring an additional 2,152 shares in the last quarter. Bank of Montreal Can raised its holdings in shares of Teledyne Technologies by 14.2% during the second quarter. Bank of Montreal Can now owns 38,115 shares of the scientific and technical instruments company’s stock worth $14,922,000 after acquiring an additional 4,731 shares in the last quarter. Congress Asset Management Co. raised its holdings in shares of Teledyne Technologies by 0.7% during the third quarter. Congress Asset Management Co. now owns 274,769 shares of the scientific and technical instruments company’s stock worth $120,255,000 after acquiring an additional 1,805 shares in the last quarter. Finally, ING Groep NV acquired a new stake in Teledyne Technologies during the third quarter valued at $1,064,000. Institutional investors and hedge funds own 91.58% of the company’s stock.

Insider Transactions at Teledyne Technologies

In other Teledyne Technologies news, Chairman Robert Mehrabian sold 46,075 shares of the firm’s stock in a transaction that occurred on 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 filing with the SEC, which is available through this link. 1.88% of the stock is currently owned by corporate insiders.

Teledyne Technologies Stock Down 1.3 %

TDY opened at $477.45 on Tuesday. Teledyne Technologies Incorporated has a twelve month low of $355.41 and a twelve month high of $492.00. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.35 and a current ratio of 2.00. The business has a 50 day moving average price of $454.91 and a 200 day moving average price of $421.97. The firm has a market cap of $22.25 billion, a P/E ratio of 24.14, a price-to-earnings-growth ratio of 3.36 and a beta of 1.01.

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

Analysts Set New Price Targets

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

Teledyne Technologies Company 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.