Massachusetts Financial Services Co. MA Decreases Stock Holdings in Teledyne Technologies Incorporated (NYSE:TDY)

Massachusetts Financial Services Co. MA trimmed its position in shares of Teledyne Technologies Incorporated (NYSE:TDY) by 0.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,556 shares of the scientific and technical instruments company’s stock after selling 165 shares during the period. Massachusetts Financial Services Co. MA owned approximately 0.05% of Teledyne Technologies worth $10,747,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of TDY. O Shaughnessy Asset Management LLC raised its holdings in shares of Teledyne Technologies by 21.0% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 767 shares of the scientific and technical instruments company’s stock worth $329,000 after acquiring an additional 133 shares in the last quarter. Silvercrest Asset Management Group LLC raised its holdings in shares of Teledyne Technologies by 14.3% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 5,951 shares of the scientific and technical instruments company’s stock worth $2,555,000 after acquiring an additional 744 shares in the last quarter. California State Teachers Retirement System raised its holdings in Teledyne Technologies by 1.2% during the 1st quarter. California State Teachers Retirement System now owns 75,567 shares of the scientific and technical instruments company’s stock valued at $32,442,000 after buying an additional 919 shares during the period. Tidal Investments LLC raised its holdings in Teledyne Technologies by 131.5% during the 1st quarter. Tidal Investments LLC now owns 3,737 shares of the scientific and technical instruments company’s stock valued at $1,604,000 after buying an additional 2,123 shares during the period. Finally, Swedbank AB purchased a new stake in Teledyne Technologies during the 1st quarter valued at $6,953,000. 91.58% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Teledyne Technologies

In other news, Chairman Robert Mehrabian sold 46,075 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $487.33, for a total transaction of $22,453,729.75. Following the transaction, the chairman now owns 171,802 shares of the company’s stock, valued at approximately $83,724,268.66. This represents a 21.15 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.88% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Needham & Company LLC increased their price target on Teledyne Technologies from $528.00 to $550.00 and gave the company a “buy” rating in a report on Monday, November 11th. TD Cowen increased their price target on Teledyne Technologies from $450.00 to $500.00 and gave the company a “buy” rating in a report on Thursday, October 24th. StockNews.com upgraded Teledyne Technologies from a “hold” rating to a “buy” rating in a report on Wednesday, October 2nd. Finally, Bank of America upgraded 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. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, Teledyne Technologies currently has a consensus rating of “Buy” and an average price target of $517.50.

Teledyne Technologies Stock Performance

TDY stock opened at $478.96 on Wednesday. The company has a quick ratio of 1.35, a current ratio of 2.00 and a debt-to-equity ratio of 0.28. The business’s fifty day simple moving average is $455.89 and its two-hundred day simple moving average is $422.57. Teledyne Technologies Incorporated has a twelve month low of $355.41 and a twelve month high of $492.00. The firm has a market cap of $22.32 billion, a price-to-earnings ratio of 24.21, a PEG ratio of 3.36 and a beta of 1.01.

Teledyne Technologies (NYSE:TDY) last released its earnings results on Wednesday, October 23rd. The scientific and technical instruments company reported $5.10 earnings per share for the quarter, topping 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 business had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.42 billion. During the same quarter last year, the firm posted $5.05 earnings per share. The business’s revenue was up 2.9% compared to the same quarter last year. Analysts predict that Teledyne Technologies Incorporated will post 19.45 earnings per share for the current year.

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.