NFJ Investment Group LLC Cuts Stock Holdings in Teledyne Technologies Incorporated (NYSE:TDY)

NFJ Investment Group LLC lessened its holdings in Teledyne Technologies Incorporated (NYSE:TDY) by 2.8% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 13,428 shares of the scientific and technical instruments company’s stock after selling 389 shares during the period. NFJ Investment Group LLC’s holdings in Teledyne Technologies were worth $5,877,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of TDY. Cetera Investment Advisers lifted its holdings in Teledyne Technologies by 345.9% during the first quarter. Cetera Investment Advisers now owns 8,708 shares of the scientific and technical instruments company’s stock worth $3,739,000 after buying an additional 6,755 shares during the period. Cetera Advisors LLC boosted its position in Teledyne Technologies by 146.3% during the first quarter. Cetera Advisors LLC now owns 1,441 shares of the scientific and technical instruments company’s stock valued at $619,000 after purchasing an additional 856 shares in the last quarter. DekaBank Deutsche Girozentrale grew its stake in Teledyne Technologies by 2.6% in the first quarter. DekaBank Deutsche Girozentrale now owns 6,680 shares of the scientific and technical instruments company’s stock valued at $2,850,000 after purchasing an additional 170 shares during the last quarter. GAMMA Investing LLC raised its holdings in Teledyne Technologies by 51.1% in the second quarter. GAMMA Investing LLC now owns 414 shares of the scientific and technical instruments company’s stock worth $161,000 after purchasing an additional 140 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV lifted its position in shares of Teledyne Technologies by 32.1% during the second quarter. Massmutual Trust Co. FSB ADV now owns 140 shares of the scientific and technical instruments company’s stock valued at $54,000 after buying an additional 34 shares during the last quarter. 91.58% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

TDY has been the topic of a number of analyst reports. TD Cowen lifted their price objective on shares of 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 raised Teledyne Technologies from a “hold” rating to a “buy” rating in a research report on Wednesday, October 2nd. 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. Finally, Needham & Company LLC upped their target price on Teledyne Technologies from $528.00 to $550.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $517.50.

Teledyne Technologies Stock Performance

Shares of TDY opened at $478.52 on Wednesday. The stock has a 50-day moving average of $461.93 and a two-hundred day moving average of $426.11. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.35 and a current ratio of 2.00. The stock has a market cap of $22.30 billion, a P/E ratio of 24.19, a P/E/G ratio of 3.33 and a beta of 1.01. Teledyne Technologies Incorporated has a one year low of $355.41 and a one year high of $492.00.

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, beating analysts’ consensus estimates of $4.97 by $0.13. Teledyne Technologies had a return on equity of 10.02% and a net margin of 16.88%. The firm had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.42 billion. During the same quarter in the prior year, the firm earned $5.05 earnings per share. Teledyne Technologies’s revenue for the quarter was up 2.9% on a year-over-year basis. As a group, research analysts predict that Teledyne Technologies Incorporated will post 19.45 EPS for the current year.

Insider Activity at Teledyne Technologies

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

Teledyne Technologies Company 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.