Fifth Third Wealth Advisors LLC Buys 126 Shares of Teledyne Technologies Incorporated (NYSE:TDY)

Fifth Third Wealth Advisors LLC lifted its stake in shares of Teledyne Technologies Incorporated (NYSE:TDY) by 15.3% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 948 shares of the scientific and technical instruments company’s stock after acquiring an additional 126 shares during the quarter. Fifth Third Wealth Advisors LLC’s holdings in Teledyne Technologies were worth $440,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Wolff Wiese Magana LLC acquired a new stake in Teledyne Technologies in the 3rd quarter worth approximately $27,000. Brooklyn Investment Group acquired a new stake in shares of Teledyne Technologies in the third quarter worth $32,000. Wilmington Savings Fund Society FSB acquired a new position in Teledyne Technologies in the 3rd quarter valued at $39,000. Brown Brothers Harriman & Co. raised its holdings in Teledyne Technologies by 1,081.8% in the 2nd quarter. Brown Brothers Harriman & Co. now owns 130 shares of the scientific and technical instruments company’s stock worth $50,000 after acquiring an additional 119 shares during the period. Finally, Quarry LP lifted its position in Teledyne Technologies by 706.3% during the 2nd quarter. Quarry LP now owns 129 shares of the scientific and technical instruments company’s stock worth $50,000 after acquiring an additional 113 shares during the last quarter. Institutional investors and hedge funds own 91.58% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on TDY shares. UBS Group began coverage on Teledyne Technologies in a research report on Tuesday, December 10th. They issued a “buy” rating and a $585.00 price target on the stock. TD Cowen lifted their price target on Teledyne Technologies from $450.00 to $500.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. StockNews.com upgraded Teledyne Technologies from a “hold” rating to a “buy” rating in a report on Wednesday, October 2nd. Needham & Company LLC raised their price objective 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, Bank of America upgraded shares of Teledyne Technologies from a “neutral” rating to a “buy” rating and upped their target price for the company from $450.00 to $550.00 in a research note on Friday, November 8th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $531.00.

Teledyne Technologies Price Performance

Shares of TDY stock opened at $472.26 on Friday. Teledyne Technologies Incorporated has a 12 month low of $355.41 and a 12 month high of $492.00. The company has a market capitalization of $22.01 billion, a P/E ratio of 23.88, a P/E/G ratio of 2.85 and a beta of 1.01. The stock has a 50 day moving average of $472.32 and a two-hundred day moving average of $442.29. The company has a current ratio of 2.00, a quick ratio of 1.35 and a debt-to-equity ratio of 0.28.

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

Insider Activity

In other Teledyne Technologies news, Vice Chairman Jason Vanwees sold 1,500 shares of the stock in a transaction on Friday, November 8th. The stock was sold at an average price of $488.71, for a total transaction of $733,065.00. Following the completion of the transaction, the insider now directly owns 2,900 shares in the company, valued at $1,417,259. This represents a 34.09 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman Robert Mehrabian sold 3,925 shares of Teledyne Technologies stock in a transaction 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 transaction, the chairman now directly owns 171,802 shares of the company’s stock, valued at approximately $84,268,881. The trade was a 2.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 53,525 shares of company stock worth $26,080,464. Corporate insiders own 1.88% of the company’s stock.

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.