1,152 Shares of Teledyne Technologies Incorporated $TDY Bought by Formidable Asset Management LLC

Formidable Asset Management LLC purchased a new position in shares of Teledyne Technologies Incorporated (NYSE:TDY) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 1,152 shares of the scientific and technical instruments company’s stock, valued at approximately $768,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. BlackRock Inc. bought a new position in shares of Teledyne Technologies during the 2nd quarter worth approximately $2,751,121,000. Jupiter Topco LLC bought a new stake in shares of Teledyne Technologies during the 2nd quarter worth about $1,027,237,000. Bank of America Corp DE raised its holdings in Teledyne Technologies by 4.5% in the 1st quarter. Bank of America Corp DE now owns 671,088 shares of the scientific and technical instruments company’s stock valued at $406,015,000 after acquiring an additional 28,822 shares during the period. Findlay Park Partners LLP acquired a new stake in Teledyne Technologies during the second quarter worth approximately $277,363,000. Finally, Sei Investments Co. grew its position in shares of Teledyne Technologies by 3.6% in the first quarter. Sei Investments Co. now owns 414,989 shares of the scientific and technical instruments company’s stock valued at $251,074,000 after purchasing an additional 14,262 shares during the last quarter. Institutional investors own 91.58% of the company’s stock.

Analyst Ratings Changes

TDY has been the subject of several research reports. Zacks Research cut Teledyne Technologies from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 25th. Barclays increased their target price on shares of Teledyne Technologies from $640.00 to $646.00 and gave the stock an “equal weight” rating in a research report on Monday, October 26th. Weiss Ratings raised shares of Teledyne Technologies from a “buy (b)” rating to a “buy (b+)” rating in a report on Thursday, October 29th. Morgan Stanley raised their price objective on Teledyne Technologies from $715.00 to $725.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 3rd. Finally, Stifel Nicolaus raised their price target on Teledyne Technologies from $775.00 to $795.00 and gave the stock a “buy” rating in a research report on Thursday, October 22nd. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $731.83.

Insiders Place Their Bets

In other Teledyne Technologies news, Director Simon Lorne sold 6,449 shares of the company’s stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $680.34, for a total value of $4,387,512.66. Following the completion of the transaction, the director directly owned 55,783 shares in the company, valued at approximately $37,951,406.22. This represents a 10.36% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.36% of the stock is owned by insiders.

Teledyne Technologies Stock Down 0.1%

TDY stock opened at $617.89 on Monday. The stock has a market capitalization of $28.45 billion, a P/E ratio of 28.24, a price-to-earnings-growth ratio of 2.28 and a beta of 0.89. The company has a current ratio of 2.31, a quick ratio of 1.51 and a debt-to-equity ratio of 0.18. Teledyne Technologies Incorporated has a 12 month low of $483.02 and a 12 month high of $697.67. The firm has a 50-day moving average price of $618.57 and a 200-day moving average price of $634.72.

Teledyne Technologies (NYSE:TDY) last issued its earnings results on Wednesday, October 21st. The scientific and technical instruments company reported $6.72 earnings per share for the quarter, beating analysts’ consensus estimates of $6.17 by $0.55. Teledyne Technologies had a net margin of 15.75% and a return on equity of 10.89%. The firm had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.65 billion. During the same quarter last year, the business posted $5.57 earnings per share. The company’s quarterly revenue was up 9.4% on a year-over-year basis. As a group, equities research analysts anticipate that Teledyne Technologies Incorporated will post 25.58 EPS for the current fiscal year.

Teledyne Technologies Profile

Teledyne Technologies is an industrial technology company that develops and manufactures instrumentation, digital imaging products, aerospace and defense electronics, and engineered systems. Its products and services support applications including environmental monitoring, marine research, scientific imaging, and industrial inspection.

The company’s businesses include sensors and monitoring instruments, cameras and imaging systems, electronic components, and specialized engineering and manufacturing services.