Cramer Rosenthal Mcglynn LLC acquired a new position in shares of Teledyne Technologies Incorporated (NYSE:TDY) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 265,502 shares of the scientific and technical instruments company’s stock, valued at approximately $42,263,000. Cramer Rosenthal Mcglynn LLC owned approximately 0.75% of Teledyne Technologies at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Janus Henderson Group PLC acquired a new stake in shares of Teledyne Technologies in the second quarter valued at approximately $280,989,000. Westfield Capital Management Co. LP acquired a new stake in shares of Teledyne Technologies in the third quarter valued at approximately $27,400,000. CI Investments Inc. acquired a new stake in shares of Teledyne Technologies in the third quarter valued at approximately $20,298,000. Principal Financial Group Inc. increased its holdings in shares of Teledyne Technologies by 85.5% in the second quarter. Principal Financial Group Inc. now owns 268,662 shares of the scientific and technical instruments company’s stock valued at $34,295,000 after purchasing an additional 123,831 shares in the last quarter. Finally, Victory Capital Management Inc. acquired a new stake in shares of Teledyne Technologies in the third quarter valued at approximately $19,150,000. 84.11% of the stock is owned by institutional investors.
A number of analysts recently weighed in on the stock. ValuEngine lowered shares of Teledyne Technologies from a “buy” rating to a “hold” rating in a report on Friday. Jefferies Group raised their price target on shares of Teledyne Technologies from $150.00 to $170.00 and gave the company a “hold” rating in a report on Friday, November 3rd. Needham & Company LLC raised their price target on shares of Teledyne Technologies from $157.00 to $190.00 and gave the company a “buy” rating in a report on Friday, November 3rd. Zacks Investment Research lowered shares of Teledyne Technologies from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 4th. Finally, BidaskClub raised shares of Teledyne Technologies from a “hold” rating to a “buy” rating in a report on Tuesday, August 8th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $175.33.
In other news, VP Cynthia Y. Belak sold 4,000 shares of Teledyne Technologies stock in a transaction on Monday, December 4th. The shares were sold at an average price of $185.19, for a total transaction of $740,760.00. Following the transaction, the vice president now directly owns 6,903 shares of the company’s stock, valued at $1,278,366.57. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Sue Main sold 7,000 shares of Teledyne Technologies stock in a transaction on Tuesday, November 7th. The stock was sold at an average price of $183.88, for a total transaction of $1,287,160.00. Following the transaction, the chief financial officer now directly owns 40,874 shares in the company, valued at $7,515,911.12. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 20,406 shares of company stock worth $3,743,275. Insiders own 3.30% of the company’s stock.
Shares of Teledyne Technologies Incorporated (NYSE TDY) traded down $1.57 during mid-day trading on Tuesday, reaching $181.92. 113,800 shares of the company’s stock were exchanged, compared to its average volume of 165,182. Teledyne Technologies Incorporated has a 1 year low of $119.67 and a 1 year high of $186.54. The company has a market capitalization of $6,370.00, a PE ratio of 27.76, a PEG ratio of 3.65 and a beta of 1.03. The company has a current ratio of 1.98, a quick ratio of 1.16 and a debt-to-equity ratio of 0.64.
Teledyne Technologies (NYSE:TDY) last announced its quarterly earnings data on Thursday, November 2nd. The scientific and technical instruments company reported $1.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.62 by $0.34. Teledyne Technologies had a net margin of 8.67% and a return on equity of 14.18%. The firm had revenue of $662.20 million for the quarter, compared to analysts’ expectations of $656.20 million. During the same period last year, the firm earned $1.46 earnings per share. The business’s revenue for the quarter was up 25.7% on a year-over-year basis. analysts forecast that Teledyne Technologies Incorporated will post 6.7 EPS for the current year.
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Teledyne Technologies Profile
Teledyne Technologies Incorporated provides enabling technologies for industrial growth markets. The Company’s segments include Instrumentation, Digital Imaging, Aerospace and Defense Electronics, and Engineered Systems. Instrumentation segment provides monitoring and control instruments for marine, environmental, industrial and other applications, as well as electronic test and measurement equipment.
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