Cardinal Capital Management Boosts Stock Holdings in Teledyne Technologies Incorporated (NYSE:TDY)

Cardinal Capital Management lifted its holdings in Teledyne Technologies Incorporated (NYSE:TDY) by 0.6% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 7,389 shares of the scientific and technical instruments company’s stock after purchasing an additional 43 shares during the period. Cardinal Capital Management’s holdings in Teledyne Technologies were worth $3,429,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Brooklyn Investment Group purchased a new stake in Teledyne Technologies during the third quarter worth $32,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Teledyne Technologies during the 3rd quarter worth $39,000. Newbridge Financial Services Group Inc. purchased a new stake in shares of Teledyne Technologies during the 4th quarter worth $46,000. Exchange Traded Concepts LLC boosted its position in Teledyne Technologies by 432.0% during the third quarter. Exchange Traded Concepts LLC now owns 133 shares of the scientific and technical instruments company’s stock valued at $58,000 after purchasing an additional 108 shares in the last quarter. Finally, Allworth Financial LP raised its holdings in Teledyne Technologies by 15.1% in the fourth quarter. Allworth Financial LP now owns 206 shares of the scientific and technical instruments company’s stock worth $105,000 after purchasing an additional 27 shares in the last quarter. 91.58% of the stock is currently owned by institutional investors.

Insider Transactions at Teledyne Technologies

In related news, Chairman Robert Mehrabian sold 5,768 shares of the stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $518.22, for a total value of $2,989,092.96. Following the transaction, the chairman now owns 144,553 shares in the company, valued at approximately $74,910,255.66. This represents a 3.84 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Cynthia Y. Belak sold 5,745 shares of the firm’s stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $508.34, for a total transaction of $2,920,413.30. Following the transaction, the vice president now directly owns 4,962 shares of the company’s stock, valued at $2,522,383.08. This represents a 53.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 32,190 shares of company stock worth $16,386,864 over the last three months. 2.14% of the stock is currently owned by insiders.

Teledyne Technologies Trading Down 1.9 %

Shares of Teledyne Technologies stock opened at $489.74 on Tuesday. The firm’s 50 day simple moving average is $483.38 and its two-hundred day simple moving average is $459.01. The firm has a market capitalization of $22.82 billion, a price-to-earnings ratio of 28.42, a PEG ratio of 3.19 and a beta of 1.03. Teledyne Technologies Incorporated has a 12-month low of $355.41 and a 12-month high of $522.50. The company has a current ratio of 2.33, a quick ratio of 1.61 and a debt-to-equity ratio of 0.28.

Teledyne Technologies (NYSE:TDY) last released its earnings results on Wednesday, January 22nd. The scientific and technical instruments company reported $5.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.23 by $0.29. Teledyne Technologies had a return on equity of 9.94% and a net margin of 14.45%. The firm had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.45 billion. During the same period in the prior year, the firm earned $5.44 EPS. The firm’s revenue was up 5.4% on a year-over-year basis. Analysts predict that Teledyne Technologies Incorporated will post 21.59 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on TDY. TD Cowen raised their price target on shares of Teledyne Technologies from $450.00 to $500.00 and gave the company a “buy” rating in a report on Thursday, October 24th. UBS Group started coverage on shares of Teledyne Technologies in a research note on Tuesday, December 10th. They issued a “buy” rating and a $585.00 target price for the company. Needham & Company LLC reaffirmed a “buy” rating and set a $585.00 price target on shares of Teledyne Technologies in a research report on Wednesday, February 5th. Finally, Bank of America raised Teledyne Technologies from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $450.00 to $550.00 in a research report on Friday, November 8th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Teledyne Technologies has a consensus rating of “Buy” and a consensus price target of $538.00.

About Teledyne Technologies

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.