Teledyne Technologies Incorporated (NYSE:TDY) Shares Sold by Kingfisher Capital LLC

Kingfisher Capital LLC lessened its stake in Teledyne Technologies Incorporated (NYSE:TDY) by 10.1% during the 3rd quarter, HoldingsChannel reports. The firm owned 6,198 shares of the scientific and technical instruments company’s stock after selling 695 shares during the quarter. Kingfisher Capital LLC’s holdings in Teledyne Technologies were worth $2,713,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Kayne Anderson Rudnick Investment Management LLC boosted its holdings 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 in the last quarter. Assenagon Asset Management S.A. raised 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 acquiring an additional 87,925 shares during the period. International Assets Investment Management LLC boosted its stake in shares of Teledyne Technologies by 44,457.2% during the 3rd quarter. International Assets Investment Management LLC now owns 73,965 shares of the scientific and technical instruments company’s stock worth $32,372,000 after acquiring an additional 73,799 shares in the last quarter. Millennium Management LLC grew its position in shares of Teledyne Technologies by 88.4% during the 2nd quarter. Millennium Management LLC now owns 127,752 shares of the scientific and technical instruments company’s stock valued at $49,565,000 after acquiring an additional 59,942 shares during the period. Finally, Distillate Capital Partners LLC purchased a new position in shares of Teledyne Technologies in the 2nd quarter valued at about $14,529,000. Institutional investors and hedge funds own 91.58% of the company’s stock.

Analysts Set New Price Targets

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

Teledyne Technologies Stock Up 1.4 %

NYSE TDY opened at $485.68 on Friday. The business has a fifty day moving average price of $459.04 and a 200 day moving average price of $424.04. 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 company has a market cap of $22.63 billion, a P/E ratio of 24.55, a P/E/G ratio of 3.37 and a beta of 1.01. Teledyne Technologies Incorporated has a one year low of $355.41 and a one year high of $492.00.

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

Insiders Place Their Bets

In other news, Chairman Robert Mehrabian sold 3,925 shares of the business’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $490.50, for a total transaction of $1,925,212.50. Following the transaction, the chairman now owns 171,802 shares of the company’s stock, valued at approximately $84,268,881. The trade was a 2.23 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 2.14% of the company’s stock.

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.