Fifth Third Wealth Advisors LLC Reduces Position in Teledyne Technologies Incorporated (NYSE:TDY)

Fifth Third Wealth Advisors LLC lowered its position in Teledyne Technologies Incorporated (NYSE:TDY) by 4.5% in the third quarter, Holdings Channel.com reports. The institutional investor owned 822 shares of the scientific and technical instruments company’s stock after selling 39 shares during the period. Fifth Third Wealth Advisors LLC’s holdings in Teledyne Technologies were worth $360,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Kayne Anderson Rudnick Investment Management LLC grew its holdings in shares of Teledyne Technologies by 17.8% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,238,091 shares of the scientific and technical instruments company’s stock worth $480,355,000 after buying an additional 186,849 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in shares of Teledyne Technologies by 235.6% in the 2nd quarter. Assenagon Asset Management S.A. now owns 125,245 shares of the scientific and technical instruments company’s stock valued at $48,593,000 after purchasing an additional 87,925 shares during the last quarter. International Assets Investment Management LLC increased its holdings in shares of Teledyne Technologies by 44,457.2% in the third quarter. International Assets Investment Management LLC now owns 73,965 shares of the scientific and technical instruments company’s stock valued at $32,372,000 after purchasing an additional 73,799 shares during the period. Millennium Management LLC raised its stake in shares of Teledyne Technologies by 88.4% during the second quarter. Millennium Management LLC now owns 127,752 shares of the scientific and technical instruments company’s stock worth $49,565,000 after purchasing an additional 59,942 shares during the last quarter. Finally, Janus Henderson Group PLC grew its position in Teledyne Technologies by 3.2% in the 1st quarter. Janus Henderson Group PLC now owns 1,574,679 shares of the scientific and technical instruments company’s stock valued at $676,041,000 after buying an additional 48,397 shares during the last quarter. 91.58% of the stock is owned by institutional investors and hedge funds.

Teledyne Technologies Trading Up 2.1 %

Shares of TDY stock opened at $480.22 on Friday. The firm has a market cap of $22.38 billion, a P/E ratio of 23.78, a PEG ratio of 3.22 and a beta of 1.01. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.00 and a quick ratio of 1.35. The firm’s 50-day simple moving average is $452.74 and its 200-day simple moving average is $420.50. Teledyne Technologies Incorporated has a 1-year low of $355.41 and a 1-year high of $492.00.

Teledyne Technologies (NYSE:TDY) last announced its quarterly earnings results on Wednesday, October 23rd. The scientific and technical instruments company reported $5.10 EPS for the quarter, topping the consensus estimate of $4.97 by $0.13. The company had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.42 billion. Teledyne Technologies had a return on equity of 10.02% and a net margin of 16.88%. The firm’s revenue was up 2.9% on a year-over-year basis. During the same period in the prior year, the firm posted $5.05 earnings per share. As a group, equities analysts forecast that Teledyne Technologies Incorporated will post 19.45 EPS for the current year.

Analyst Ratings Changes

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

Insider Activity

In other news, Chairman Robert Mehrabian sold 46,075 shares of the business’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $487.33, for a total transaction of $22,453,729.75. Following the transaction, the chairman now directly owns 171,802 shares of the company’s stock, valued at approximately $83,724,268.66. The trade was a 21.15 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 2.14% of the company’s stock.

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.