Glenmede Trust Co. NA Acquires 201 Shares of Teledyne Technologies Incorporated (NYSE:TDY)

Glenmede Trust Co. NA raised its holdings in shares of Teledyne Technologies Incorporated (NYSE:TDY) by 12.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,792 shares of the scientific and technical instruments company’s stock after purchasing an additional 201 shares during the quarter. Glenmede Trust Co. NA’s holdings in Teledyne Technologies were worth $784,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in TDY. Wolff Wiese Magana LLC purchased a new stake in Teledyne Technologies during the 3rd quarter valued at $27,000. American National Bank bought a new position in Teledyne Technologies during the second quarter valued at $28,000. Brooklyn Investment Group purchased a new stake in shares of Teledyne Technologies in the third quarter valued at $32,000. Innealta Capital LLC bought a new stake in shares of Teledyne Technologies in the 2nd quarter worth about $28,000. Finally, Tortoise Investment Management LLC boosted its stake in shares of Teledyne Technologies by 48.0% during the 2nd quarter. Tortoise Investment Management LLC now owns 74 shares of the scientific and technical instruments company’s stock worth $29,000 after purchasing an additional 24 shares during the period. 91.58% of the stock is owned by hedge funds and other institutional investors.

Teledyne Technologies Stock Down 0.3 %

Shares of NYSE:TDY opened at $478.52 on Wednesday. The business’s 50 day moving average is $461.93 and its 200 day moving average is $426.11. The stock has a market cap of $22.30 billion, a P/E ratio of 24.19, a price-to-earnings-growth ratio of 3.33 and a beta of 1.01. Teledyne Technologies Incorporated has a 52-week low of $355.41 and a 52-week high of $492.00. 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 (NYSE:TDY) last posted its quarterly earnings results on Wednesday, October 23rd. The scientific and technical instruments company reported $5.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.97 by $0.13. The business had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.42 billion. Teledyne Technologies had a return on equity of 10.02% and a net margin of 16.88%. The business’s revenue was up 2.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $5.05 EPS. Sell-side analysts predict that Teledyne Technologies Incorporated will post 19.45 EPS for the current year.

Wall Street Analyst Weigh In

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

Insider Buying and Selling at Teledyne Technologies

In other news, Chairman Robert Mehrabian sold 3,925 shares of the 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 transaction, the chairman now directly owns 171,802 shares in the company, valued at approximately $84,268,881. This trade represents a 2.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.88% of the company’s stock.

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.