Pacer Advisors Inc. Raises Position in Teledyne Technologies Incorporated (NYSE:TDY)

Pacer Advisors Inc. boosted its position in Teledyne Technologies Incorporated (NYSE:TDY) by 50.0% during the 4th quarter, Holdings Channel.com reports. The firm owned 5,311 shares of the scientific and technical instruments company’s stock after purchasing an additional 1,770 shares during the period. Pacer Advisors Inc.’s holdings in Teledyne Technologies were worth $2,465,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of TDY. AQR Capital Management LLC lifted its position in shares of Teledyne Technologies by 1.5% during the 2nd quarter. AQR Capital Management LLC now owns 9,275 shares of the scientific and technical instruments company’s stock valued at $3,591,000 after buying an additional 141 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in Teledyne Technologies by 1.1% during the second quarter. The Manufacturers Life Insurance Company now owns 28,742 shares of the scientific and technical instruments company’s stock valued at $11,151,000 after purchasing an additional 307 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its position in Teledyne Technologies by 14.0% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,906 shares of the scientific and technical instruments company’s stock worth $739,000 after purchasing an additional 234 shares during the period. Quarry LP increased its stake in shares of Teledyne Technologies by 706.3% in the second quarter. Quarry LP now owns 129 shares of the scientific and technical instruments company’s stock worth $50,000 after purchasing an additional 113 shares in the last quarter. Finally, Sanctuary Advisors LLC bought a new stake in shares of Teledyne Technologies in the second quarter valued at approximately $4,947,000. 91.58% of the stock is owned by institutional investors.

Teledyne Technologies Price Performance

Teledyne Technologies stock opened at $510.96 on Friday. The business has a 50-day simple moving average of $477.57 and a 200 day simple moving average of $451.08. Teledyne Technologies Incorporated has a 52 week low of $355.41 and a 52 week high of $522.50. The stock has a market cap of $23.81 billion, a price-to-earnings ratio of 29.66, a PEG ratio of 3.21 and a beta of 1.01. The company has a quick ratio of 1.61, a current ratio of 2.33 and a debt-to-equity ratio of 0.28.

Teledyne Technologies (NYSE:TDY) last announced its earnings results on Wednesday, January 22nd. The scientific and technical instruments company reported $5.52 earnings per share for the quarter, beating analysts’ consensus estimates of $5.23 by $0.29. Teledyne Technologies had a net margin of 14.45% and a return on equity of 9.94%. The business had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.45 billion. During the same period last year, the firm posted $5.44 earnings per share. Teledyne Technologies’s quarterly revenue was up 5.4% on a year-over-year basis. On average, research analysts forecast that Teledyne Technologies Incorporated will post 21.4 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Teledyne Technologies news, Chairman Robert Mehrabian sold 3,925 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $490.50, for a total value of $1,925,212.50. Following the completion of the sale, the chairman now owns 171,802 shares of the company’s stock, valued at $84,268,881. This represents a 2.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael T. Smith sold 2,025 shares of Teledyne Technologies stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $478.25, for a total transaction of $968,456.25. Following the transaction, the director now directly owns 54,935 shares in the company, valued at $26,272,663.75. This trade represents a 3.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 78,683 shares of company stock worth $38,943,649. Corporate insiders own 2.14% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on TDY. UBS Group initiated coverage on shares of Teledyne Technologies in a research note on Tuesday, December 10th. They issued a “buy” rating and a $585.00 price objective for the company. TD Cowen increased their price objective on Teledyne Technologies from $450.00 to $500.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Needham & Company LLC lifted their target price on Teledyne Technologies from $528.00 to $550.00 and gave the company a “buy” rating in a report on Monday, November 11th. Finally, Bank of America raised shares of Teledyne Technologies from a “neutral” rating to a “buy” rating and increased their price target for the stock from $450.00 to $550.00 in a report on Friday, November 8th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $531.00.

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.