Prospera Private Wealth LLC Makes New $279,000 Investment in Teledyne Technologies Incorporated (NYSE:TDY)

Prospera Private Wealth LLC purchased a new stake in Teledyne Technologies Incorporated (NYSE:TDY) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 638 shares of the scientific and technical instruments company’s stock, valued at approximately $279,000.

Several other institutional investors and hedge funds also recently made changes to their positions in TDY. Kayne Anderson Rudnick Investment Management LLC increased its stake in shares of Teledyne Technologies by 17.8% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,238,091 shares of the scientific and technical instruments company’s stock valued at $480,355,000 after buying an additional 186,849 shares during the period. Assenagon Asset Management S.A. increased its stake in shares of Teledyne Technologies by 235.6% in the second 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 buying an additional 87,925 shares during the period. International Assets Investment Management LLC increased its stake 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 buying an additional 73,799 shares during the period. Millennium Management LLC boosted its position in shares of Teledyne Technologies by 88.4% during the 2nd quarter. Millennium Management LLC now owns 127,752 shares of the scientific and technical instruments company’s stock valued at $49,565,000 after purchasing an additional 59,942 shares in the last quarter. Finally, Janus Henderson Group PLC boosted its position in shares of Teledyne Technologies by 3.2% during 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 purchasing an additional 48,397 shares in the last quarter. Institutional investors and hedge funds own 91.58% of the company’s stock.

Insiders Place Their Bets

In other news, Chairman Robert Mehrabian sold 46,075 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $487.33, for a total value of $22,453,729.75. Following the completion of the transaction, the chairman now directly owns 171,802 shares of the company’s stock, valued at $83,724,268.66. This trade represents a 21.15 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.88% of the company’s stock.

Teledyne Technologies Stock Up 1.2 %

TDY stock opened at $470.45 on Thursday. Teledyne Technologies Incorporated has a twelve month low of $355.41 and a twelve month 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. The stock’s 50 day moving average is $451.85 and its 200-day moving average is $420.15. The firm has a market capitalization of $21.92 billion, a PE ratio of 23.78, a P/E/G ratio of 3.26 and a beta of 1.01.

Teledyne Technologies (NYSE:TDY) last issued its quarterly earnings results on Wednesday, October 23rd. The scientific and technical instruments company reported $5.10 EPS for the quarter, beating analysts’ consensus estimates of $4.97 by $0.13. The company had revenue of $1.44 billion during 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%. Teledyne Technologies’s revenue was up 2.9% on a year-over-year basis. During the same period last year, the business posted $5.05 earnings per share. Sell-side analysts expect that Teledyne Technologies Incorporated will post 19.45 EPS for the current fiscal year.

Wall Street Analyst Weigh In

TDY has been the topic of several research analyst reports. StockNews.com upgraded Teledyne Technologies from a “hold” rating to a “buy” rating in a research report on Wednesday, October 2nd. TD Cowen upped their target price on Teledyne Technologies from $450.00 to $500.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Bank of America upgraded Teledyne Technologies from a “neutral” rating to a “buy” rating and increased their price target for the stock from $450.00 to $550.00 in a report on Friday, November 8th. Finally, Needham & Company LLC increased their price target on Teledyne Technologies from $528.00 to $550.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of “Buy” and an average price target of $517.50.

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.