Acadian Asset Management LLC Buys 23,577 Shares of Teledyne Technologies Incorporated (TDY)

Acadian Asset Management LLC boosted its stake in shares of Teledyne Technologies Incorporated (NYSE:TDY) by 338.5% during the third quarter, HoldingsChannel reports. The firm owned 30,542 shares of the scientific and technical instruments company’s stock after purchasing an additional 23,577 shares during the quarter. Acadian Asset Management LLC’s holdings in Teledyne Technologies were worth $7,534,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Arizona State Retirement System raised its stake in Teledyne Technologies by 2.7% in the third 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 buying an additional 671 shares during the last quarter. Public Employees Retirement Association of Colorado raised its stake in shares of Teledyne Technologies by 10.2% in the third quarter. Public Employees Retirement Association of Colorado now owns 131,207 shares of the scientific and technical instruments company’s stock worth $32,366,000 after purchasing an additional 12,193 shares during the last quarter. Congress Asset Management Co. MA raised its stake in shares of Teledyne Technologies by 10.1% in the third quarter. Congress Asset Management Co. MA now owns 11,069 shares of the scientific and technical instruments company’s stock worth $2,731,000 after purchasing an additional 1,015 shares during the last quarter. Russell Investments Group Ltd. raised its stake in shares of Teledyne Technologies by 1.4% in the third quarter. Russell Investments Group Ltd. now owns 51,146 shares of the scientific and technical instruments company’s stock worth $12,600,000 after purchasing an additional 711 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. raised its stake in shares of Teledyne Technologies by 100.0% in the third quarter. Robeco Institutional Asset Management B.V. now owns 2,124 shares of the scientific and technical instruments company’s stock worth $473,000 after purchasing an additional 1,062 shares during the last quarter. 83.65% of the stock is currently owned by institutional investors.

TDY has been the subject of several research analyst reports. Needham & Company LLC raised their price objective on Teledyne Technologies from $210.00 to $240.00 and gave the stock a “buy” rating in a research note on Monday, August 6th. 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 research note on Thursday, August 2nd. Finally, Jefferies Financial Group set a $222.00 price objective on Teledyne Technologies and gave the stock a “hold” rating in a research note on Sunday, August 5th.

In other news, Chairman Robert Mehrabian sold 35,000 shares of the firm’s stock in a transaction dated 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 transaction, the chairman now directly owns 259,252 shares in the company, valued at $60,379,790.80. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Cynthia Y. Belak sold 6,000 shares of the firm’s stock in a transaction dated 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 transaction, the vice president now owns 6,782 shares of the company’s stock, valued at $1,574,916.04. The disclosure for this sale can be found here. Company insiders own 3.73% of the company’s stock.

Shares of NYSE:TDY opened at $230.37 on Wednesday. Teledyne Technologies Incorporated has a 52-week low of $172.80 and a 52-week high of $250.87. The stock has a market capitalization of $8.19 billion, a PE ratio of 33.24, a PEG ratio of 3.67 and a beta of 1.12. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.89 and a quick ratio of 1.24.

Teledyne Technologies (NYSE:TDY) last announced its quarterly earnings data on Wednesday, October 24th. The scientific and technical instruments company reported $2.22 earnings per share (EPS) 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 firm had revenue of $725.30 million during the quarter, compared to analysts’ expectations of $710.70 million. During the same period last year, the business posted $1.96 earnings per share. The company’s revenue for the quarter was up 9.5% compared to the same quarter last year. As a group, equities analysts predict that Teledyne Technologies Incorporated will post 8.25 earnings per share for the current fiscal year.

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About Teledyne Technologies

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.

See Also: Buyback

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

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