Weiss Asset Management LP Takes $2.90 Million Position in Teledyne Technologies Incorporated (NYSE:TDY)

Weiss Asset Management LP bought a new position in shares of Teledyne Technologies Incorporated (NYSE:TDY) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 6,632 shares of the scientific and technical instruments company’s stock, valued at approximately $2,903,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Verition Fund Management LLC raised its position in shares of Teledyne Technologies by 240.5% during the third quarter. Verition Fund Management LLC now owns 36,524 shares of the scientific and technical instruments company’s stock valued at $15,985,000 after buying an additional 25,796 shares during the last quarter. Royal London Asset Management Ltd. lifted its stake in Teledyne Technologies by 11.7% in the 2nd quarter. Royal London Asset Management Ltd. now owns 20,498 shares of the scientific and technical instruments company’s stock worth $7,953,000 after purchasing an additional 2,152 shares in the last quarter. Bank of Montreal Can boosted its holdings in shares of Teledyne Technologies by 14.2% during the 2nd quarter. Bank of Montreal Can now owns 38,115 shares of the scientific and technical instruments company’s stock valued at $14,922,000 after purchasing an additional 4,731 shares during the last quarter. ING Groep NV purchased a new position in shares of Teledyne Technologies during the third quarter valued at about $1,064,000. Finally, Congress Asset Management Co. increased its holdings in shares of Teledyne Technologies by 0.7% in the third quarter. Congress Asset Management Co. now owns 274,769 shares of the scientific and technical instruments company’s stock worth $120,255,000 after purchasing an additional 1,805 shares during the last quarter. Institutional investors own 91.58% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on TDY shares. Bank of America raised Teledyne Technologies from a “neutral” rating to a “buy” rating and increased their price target for the company from $450.00 to $550.00 in a research note on Friday, November 8th. Needham & Company LLC boosted their price target on shares of Teledyne Technologies from $528.00 to $550.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. TD Cowen increased their price objective on shares of Teledyne Technologies from $450.00 to $500.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Finally, StockNews.com upgraded shares of Teledyne Technologies from a “hold” rating to a “buy” rating in a research report on Wednesday, October 2nd. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $517.50.

Insider Activity

In related news, Chairman Robert Mehrabian sold 3,925 shares of the business’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $490.50, for a total transaction of $1,925,212.50. Following the completion of the transaction, the chairman now owns 171,802 shares in the company, valued at $84,268,881. The trade was a 2.23 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 2.14% of the company’s stock.

Teledyne Technologies Stock Down 0.7 %

Shares of TDY opened at $473.55 on Friday. 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 market cap of $22.07 billion, a PE ratio of 23.94, a P/E/G ratio of 3.32 and a beta of 1.01. The business has a fifty day moving average of $464.41 and a 200 day moving average of $427.42.

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

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.