Charles Schwab Investment Management Inc. Purchases 2,206 Shares of Teledyne Technologies Incorporated (NYSE:TDY)

Charles Schwab Investment Management Inc. boosted its position in shares of Teledyne Technologies Incorporated (NYSE:TDY) by 0.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 291,279 shares of the scientific and technical instruments company’s stock after purchasing an additional 2,206 shares during the period. Charles Schwab Investment Management Inc. owned about 0.63% of Teledyne Technologies worth $127,481,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wolff Wiese Magana LLC purchased a new position in shares of Teledyne Technologies during the third quarter valued at approximately $27,000. American National Bank bought a new position in Teledyne Technologies in the 2nd quarter valued at $28,000. Innealta Capital LLC purchased a new stake in Teledyne Technologies in the second quarter worth $28,000. Tortoise Investment Management LLC lifted its position in shares of Teledyne Technologies by 48.0% during the second quarter. Tortoise Investment Management LLC now owns 74 shares of the scientific and technical instruments company’s stock worth $29,000 after purchasing an additional 24 shares during the last quarter. Finally, Crewe Advisors LLC grew its holdings in shares of Teledyne Technologies by 319.0% in the second quarter. Crewe Advisors LLC now owns 88 shares of the scientific and technical instruments company’s stock worth $34,000 after purchasing an additional 67 shares during the last quarter. 91.58% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Chairman Robert Mehrabian sold 46,075 shares of the company’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $487.33, for a total transaction of $22,453,729.75. Following the transaction, the chairman now directly owns 171,802 shares of the company’s stock, valued at approximately $83,724,268.66. This represents a 21.15 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 1.88% of the company’s stock.

Analysts Set New Price Targets

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

Teledyne Technologies Stock Performance

Shares of NYSE:TDY opened at $477.45 on Tuesday. The company has a quick ratio of 1.35, a current ratio of 2.00 and a debt-to-equity ratio of 0.28. The company has a market capitalization of $22.25 billion, a price-to-earnings ratio of 24.14, a price-to-earnings-growth ratio of 3.36 and a beta of 1.01. The firm has a 50 day moving average of $454.91 and a 200 day moving average of $421.97. Teledyne Technologies Incorporated has a 52 week low of $355.41 and a 52 week high of $492.00.

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, topping 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 analysts’ expectations of $1.42 billion. During the same period in the prior year, the business posted $5.05 EPS. The firm’s quarterly revenue was up 2.9% on a year-over-year basis. On average, sell-side analysts predict that Teledyne Technologies Incorporated will post 19.45 earnings per share for the current fiscal year.

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.