Pacer Advisors Inc. cut its holdings in Teledyne Technologies Incorporated (NYSE:TDY) by 7.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,389 shares of the scientific and technical instruments company’s stock after selling 1,021 shares during the quarter. Pacer Advisors Inc.’s holdings in Teledyne Technologies were worth $4,311,000 as of its most recent SEC filing.
Several other large investors have also added to or reduced their stakes in TDY. Cerebellum GP LLC bought a new position in shares of Teledyne Technologies during the 2nd quarter valued at approximately $254,000. BTC Capital Management Inc. bought a new stake in Teledyne Technologies in the second quarter worth $2,703,000. Advisor Group Inc. lifted its position in Teledyne Technologies by 16.8% in the second quarter. Advisor Group Inc. now owns 995 shares of the scientific and technical instruments company’s stock worth $273,000 after buying an additional 143 shares during the last quarter. MUFG Securities EMEA plc lifted its position in Teledyne Technologies by 126.0% in the second quarter. MUFG Securities EMEA plc now owns 12,206 shares of the scientific and technical instruments company’s stock worth $3,343,000 after buying an additional 6,806 shares during the last quarter. Finally, Ellington Management Group LLC bought a new stake in Teledyne Technologies in the second quarter worth $438,000. 85.06% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE:TDY opened at $322.00 on Friday. Teledyne Technologies Incorporated has a 12-month low of $189.35 and a 12-month high of $329.20. The company has a market capitalization of $11.67 billion, a PE ratio of 36.26, a PEG ratio of 4.28 and a beta of 1.11. The business has a 50 day moving average of $314.69 and a two-hundred day moving average of $274.93. The company has a current ratio of 1.63, a quick ratio of 1.08 and a debt-to-equity ratio of 0.31.
Teledyne Technologies (NYSE:TDY) last announced its quarterly earnings results on Wednesday, July 24th. The scientific and technical instruments company reported $2.80 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.40 by $0.40. The company had revenue of $782.00 million during the quarter, compared to the consensus estimate of $781.55 million. Teledyne Technologies had a return on equity of 15.09% and a net margin of 12.04%. Teledyne Technologies’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same period in the previous year, the company posted $2.32 earnings per share. Equities research analysts predict that Teledyne Technologies Incorporated will post 9.98 earnings per share for the current fiscal year.
In related news, CFO Sue Main sold 12,000 shares of the business’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $318.22, for a total transaction of $3,818,640.00. Following the completion of the sale, the chief financial officer now directly owns 48,418 shares in the company, valued at $15,407,575.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Schack Wesley W. Von sold 4,000 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $319.24, for a total value of $1,276,960.00. Following the sale, the director now owns 14,366 shares of the company’s stock, valued at $4,586,201.84. The disclosure for this sale can be found here. Insiders sold 24,248 shares of company stock valued at $7,569,057 over the last 90 days. Company insiders own 3.19% of the company’s stock.
A number of brokerages recently issued reports on TDY. Cowen set a $375.00 price target on Teledyne Technologies and gave the stock a “buy” rating in a research report on Friday, September 27th. ValuEngine downgraded Teledyne Technologies from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Finally, Needham & Company LLC raised their price target on Teledyne Technologies from $275.00 to $328.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $312.50.
Teledyne Technologies Profile
Teledyne Technologies Incorporated provides instrumentation, digital imaging, aerospace and defense electronics, and engineered systems in the United States, the United Kingdom, Denmark, Canada, France, and the Netherlands. The company's Instrumentation segment offers monitoring and control instruments for marine, environmental, industrial, and other applications, as well as electronic test and measurement equipment; and power and communications connectivity devices for distributed instrumentation systems and sensor networks deployed in mission critical and harsh environments.
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