Cinctive Capital Management LP Buys Shares of 1,000 Teledyne Technologies Incorporated (NYSE:TDY)

Cinctive Capital Management LP purchased a new position in shares of Teledyne Technologies Incorporated (NYSE:TDY) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 1,000 shares of the scientific and technical instruments company’s stock, valued at approximately $438,000.

Several other institutional investors have also recently made changes to their positions in TDY. Wolff Wiese Magana LLC acquired a new stake in Teledyne Technologies during the third quarter worth $27,000. American National Bank acquired a new stake in shares of Teledyne Technologies during the 2nd quarter worth about $28,000. Innealta Capital LLC purchased a new stake in Teledyne Technologies in the 2nd quarter valued at about $28,000. Tortoise Investment Management LLC lifted its position in Teledyne Technologies by 48.0% in the second 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 about $32,000. Hedge funds and other institutional investors own 91.58% of the company’s stock.

Analysts Set New Price Targets

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

Teledyne Technologies Stock Performance

NYSE:TDY opened at $478.52 on Wednesday. The company has a market cap of $22.30 billion, a price-to-earnings ratio of 24.19, a price-to-earnings-growth ratio of 3.33 and a beta of 1.01. The company has a quick ratio of 1.35, a current ratio of 2.00 and a debt-to-equity ratio of 0.28. Teledyne Technologies Incorporated has a 52 week low of $355.41 and a 52 week high of $492.00. The company has a fifty day simple moving average of $461.93 and a two-hundred day simple moving average of $426.11.

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

Insider Activity at Teledyne Technologies

In other Teledyne Technologies news, Chairman Robert Mehrabian sold 3,925 shares of the stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $490.50, for a total value of $1,925,212.50. Following the sale, the chairman now directly owns 171,802 shares of the company’s stock, valued at approximately $84,268,881. This represents a 2.23 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. 1.88% of the stock is owned by corporate insiders.

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.