Zions Bancorporation Buys Shares of 1,437 Teledyne Technologies Incorporated (TDY)

Zions Bancorporation bought a new stake in shares of Teledyne Technologies Incorporated (NYSE:TDY) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,437 shares of the scientific and technical instruments company’s stock, valued at approximately $354,000.

A number of other hedge funds also recently modified their holdings of the stock. Meeder Asset Management Inc. boosted its holdings in Teledyne Technologies by 23.5% during the 3rd quarter. Meeder Asset Management Inc. now owns 5,025 shares of the scientific and technical instruments company’s stock valued at $1,240,000 after acquiring an additional 955 shares during the period. Wells Fargo & Company MN boosted its holdings in Teledyne Technologies by 81.1% during the 3rd quarter. Wells Fargo & Company MN now owns 578,648 shares of the scientific and technical instruments company’s stock valued at $142,740,000 after acquiring an additional 259,094 shares during the period. Comerica Bank boosted its holdings in Teledyne Technologies by 3.3% during the 3rd quarter. Comerica Bank now owns 29,754 shares of the scientific and technical instruments company’s stock valued at $6,584,000 after acquiring an additional 953 shares during the period. Acadian Asset Management LLC boosted its holdings in Teledyne Technologies by 338.5% during the 3rd quarter. Acadian Asset Management LLC now owns 30,542 shares of the scientific and technical instruments company’s stock valued at $7,534,000 after acquiring an additional 23,577 shares during the period. Finally, Arizona State Retirement System boosted its holdings in Teledyne Technologies by 2.7% during the 3rd quarter. Arizona State Retirement System now owns 25,500 shares of the scientific and technical instruments company’s stock valued at $6,290,000 after acquiring an additional 671 shares during the period. Institutional investors own 83.65% of the company’s stock.

In other Teledyne Technologies news, Chairman Robert Mehrabian sold 35,000 shares of the stock in a transaction that occurred on Thursday, August 9th. The stock was sold at an average price of $232.90, for a total value of $8,151,500.00. Following the completion of the sale, the chairman now owns 259,252 shares in the company, valued at approximately $60,379,790.80. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, VP Cynthia Y. Belak sold 6,000 shares of the stock in a transaction that occurred on Friday, August 10th. The stock was sold at an average price of $232.22, for a total value of $1,393,320.00. Following the completion of the sale, the vice president now owns 6,782 shares of the company’s stock, valued at approximately $1,574,916.04. The disclosure for this sale can be found here. Company insiders own 3.73% of the company’s stock.

Several equities research analysts have weighed in on TDY shares. Zacks Investment Research upgraded Teledyne Technologies from a “hold” rating to a “buy” rating and set a $246.00 price objective for the company in a report on Thursday, August 2nd. Jefferies Financial Group set a $222.00 price objective on Teledyne Technologies and gave the stock a “hold” rating in a report on Sunday, August 5th. Finally, Needham & Company LLC increased their price objective on Teledyne Technologies from $210.00 to $240.00 and gave the stock a “buy” rating in a report on Monday, August 6th.

NYSE TDY opened at $226.53 on Tuesday. Teledyne Technologies Incorporated has a fifty-two week low of $172.80 and a fifty-two week high of $250.87. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.89 and a quick ratio of 1.24. The company has a market capitalization of $8.19 billion, a price-to-earnings ratio of 32.69, a price-to-earnings-growth ratio of 3.67 and a beta of 1.12.

Teledyne Technologies (NYSE:TDY) last released its quarterly earnings data on Wednesday, October 24th. The scientific and technical instruments company reported $2.22 earnings per share for the quarter, topping the consensus estimate of $2.05 by $0.17. Teledyne Technologies had a return on equity of 14.74% and a net margin of 10.86%. The business had revenue of $725.30 million during the quarter, compared to analysts’ expectations of $710.70 million. During the same quarter last year, the business posted $1.96 EPS. The business’s revenue was up 9.5% on a year-over-year basis. As a group, research analysts expect that Teledyne Technologies Incorporated will post 8.25 earnings per share for the current year.

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Teledyne Technologies Profile

Teledyne Technologies Incorporated provides instrumentation, digital imaging, aerospace and defense electronics, and engineered systems in the United States, Canada, the United Kingdom, France, and internationally. The company's Instrumentation segment offers monitoring and control instruments for marine, environmental, industrial, and other applications, as well as electronic test and measurement equipment; and power and communications connectivity devices for distributed instrumentation systems and sensor networks deployed in mission critical and harsh environments.

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Institutional Ownership by Quarter for Teledyne Technologies (NYSE:TDY)

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