Wilmington Savings Fund Society FSB Makes New Investment in Teledyne Technologies Incorporated (NYSE:TDY)

Wilmington Savings Fund Society FSB purchased a new position in Teledyne Technologies Incorporated (NYSE:TDY) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm purchased 90 shares of the scientific and technical instruments company’s stock, valued at approximately $39,000.

Other institutional investors have also made changes to their positions in the company. Verition Fund Management LLC boosted its holdings in 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 worth $15,985,000 after buying an additional 25,796 shares during the last quarter. National Bank of Canada FI grew its holdings in Teledyne Technologies by 217.5% during the third quarter. National Bank of Canada FI now owns 53,819 shares of the scientific and technical instruments company’s stock valued at $23,554,000 after purchasing an additional 36,867 shares during the period. Polar Asset Management Partners Inc. bought a new stake in Teledyne Technologies in the third quarter valued at approximately $5,208,000. Royal London Asset Management Ltd. raised its holdings in Teledyne Technologies by 11.7% in the second 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 during the period. Finally, Bank of Montreal Can grew its holdings in shares of Teledyne Technologies by 14.2% in 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 buying an additional 4,731 shares during the period. 91.58% of the stock is owned by institutional investors and hedge funds.

Teledyne Technologies Stock Performance

Shares of NYSE TDY opened at $467.25 on Monday. 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 has a market cap of $21.77 billion, a price-to-earnings ratio of 23.62, a P/E/G ratio of 3.30 and a beta of 1.01. The stock’s fifty day moving average price is $470.05 and its two-hundred day moving average price is $432.80. Teledyne Technologies Incorporated has a one year low of $355.41 and a one year high of $492.00.

Teledyne Technologies (NYSE:TDY) last released its quarterly earnings results on Wednesday, October 23rd. The scientific and technical instruments company reported $5.10 earnings per share for the quarter, beating 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 company had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.42 billion. During the same period in the previous year, the business earned $5.05 earnings per share. The firm’s quarterly revenue was up 2.9% on a year-over-year basis. On average, equities analysts forecast that Teledyne Technologies Incorporated will post 19.45 EPS for the current year.

Insider Buying and Selling

In related news, Chairman Robert Mehrabian sold 3,925 shares of the company’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 sale, the chairman now directly owns 171,802 shares in the company, valued at $84,268,881. This represents a 2.23 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Vice Chairman Jason Vanwees sold 1,500 shares of the business’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $488.71, for a total value of $733,065.00. Following the transaction, the insider now directly owns 2,900 shares of the company’s stock, valued at approximately $1,417,259. The trade was a 34.09 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 53,525 shares of company stock worth $26,080,464. Company insiders own 2.14% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on TDY. UBS Group assumed coverage on Teledyne Technologies in a report on Tuesday, December 10th. They set a “buy” rating and a $585.00 target price on the stock. Bank of America upgraded Teledyne Technologies from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $450.00 to $550.00 in a report on Friday, November 8th. StockNews.com raised Teledyne Technologies from a “hold” rating to a “buy” rating in a research note on Wednesday, October 2nd. Needham & Company LLC upped their price target on shares of Teledyne Technologies from $528.00 to $550.00 and gave the company a “buy” rating in a report on Monday, November 11th. Finally, TD Cowen increased their price objective on shares of Teledyne Technologies from $450.00 to $500.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Six equities research 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 a consensus 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.