Teledyne Technologies Incorporated (NYSE:TDY) Shares Sold by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lessened its position in shares of Teledyne Technologies Incorporated (NYSE:TDY) by 7.9% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 326,718 shares of the scientific and technical instruments company’s stock after selling 28,005 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Teledyne Technologies were worth $142,991,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in TDY. Wolff Wiese Magana LLC acquired a new position in Teledyne Technologies during the third quarter worth about $27,000. American National Bank purchased a new stake in Teledyne Technologies in the 2nd quarter valued at approximately $28,000. Innealta Capital LLC purchased a new stake in Teledyne Technologies in the 2nd quarter valued at approximately $28,000. Tortoise Investment Management LLC grew its holdings in Teledyne Technologies by 48.0% during the 2nd quarter. Tortoise Investment Management LLC now owns 74 shares of the scientific and technical instruments company’s stock valued at $29,000 after buying an additional 24 shares during the last quarter. Finally, Brooklyn Investment Group purchased a new position in Teledyne Technologies during the third quarter worth $32,000. 91.58% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, Chairman Robert Mehrabian sold 46,075 shares of the stock in a transaction 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 completion of the sale, the chairman now directly owns 171,802 shares in the company, valued at approximately $83,724,268.66. This represents a 21.15 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.14% of the company’s stock.

Teledyne Technologies Price Performance

Shares of Teledyne Technologies stock opened at $485.26 on Monday. The business’s fifty day moving average price is $460.12 and its 200 day moving average price is $425.05. Teledyne Technologies Incorporated has a twelve month low of $355.41 and a twelve month high of $492.00. The company has a current ratio of 2.00, a quick ratio of 1.35 and a debt-to-equity ratio of 0.28. The stock has a market capitalization of $22.61 billion, a P/E ratio of 24.53, a PEG ratio of 3.37 and a beta of 1.01.

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 (EPS) 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 business had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.42 billion. During the same quarter in the previous year, the business earned $5.05 EPS. The company’s revenue for the quarter was up 2.9% on a year-over-year basis. As a group, research analysts anticipate that Teledyne Technologies Incorporated will post 19.45 earnings per share for the current year.

Wall Street Analyst Weigh In

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

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.