Teledyne Technologies Incorporated (NYSE:TDY) Shares Purchased by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. boosted its holdings in Teledyne Technologies Incorporated (NYSE:TDY) by 0.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 107,515 shares of the scientific and technical instruments company’s stock after buying an additional 611 shares during the period. PNC Financial Services Group Inc. owned 0.23% of Teledyne Technologies worth $47,055,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Covestor Ltd boosted its position in shares of Teledyne Technologies by 131.9% in the first quarter. Covestor Ltd now owns 109 shares of the scientific and technical instruments company’s stock worth $47,000 after acquiring an additional 62 shares during the last quarter. O Shaughnessy Asset Management LLC raised its stake in Teledyne Technologies by 21.0% during the first quarter. O Shaughnessy Asset Management LLC now owns 767 shares of the scientific and technical instruments company’s stock worth $329,000 after purchasing an additional 133 shares during the period. UniSuper Management Pty Ltd raised its stake in Teledyne Technologies by 392.9% during the first quarter. UniSuper Management Pty Ltd now owns 2,770 shares of the scientific and technical instruments company’s stock worth $1,189,000 after purchasing an additional 2,208 shares during the period. Bessemer Group Inc. boosted its holdings in shares of Teledyne Technologies by 4.3% in the 1st quarter. Bessemer Group Inc. now owns 2,159 shares of the scientific and technical instruments company’s stock valued at $927,000 after purchasing an additional 90 shares during the last quarter. Finally, EntryPoint Capital LLC grew its stake in shares of Teledyne Technologies by 10,900.0% during the 1st quarter. EntryPoint Capital LLC now owns 330 shares of the scientific and technical instruments company’s stock valued at $142,000 after buying an additional 327 shares during the period. Hedge funds and other institutional investors own 91.58% of the company’s stock.

Teledyne Technologies Stock Up 1.2 %

NYSE TDY opened at $470.45 on Thursday. 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 Incorporated has a fifty-two week low of $355.41 and a fifty-two week high of $492.00. The business has a 50 day moving average price of $451.85 and a two-hundred day moving average price of $420.15. The stock has a market cap of $21.92 billion, a PE ratio of 23.50, a P/E/G ratio of 3.26 and a beta of 1.01.

Teledyne Technologies (NYSE:TDY) last issued its quarterly earnings data on Wednesday, October 23rd. The scientific and technical instruments company reported $5.10 EPS for the quarter, topping analysts’ consensus estimates of $4.97 by $0.13. The firm had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.42 billion. Teledyne Technologies had a net margin of 16.88% and a return on equity of 10.02%. The firm’s revenue was up 2.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $5.05 EPS. As a group, sell-side analysts predict that Teledyne Technologies Incorporated will post 19.45 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Chairman Robert Mehrabian sold 46,075 shares of Teledyne Technologies stock in a transaction dated 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 in the company, valued at approximately $83,724,268.66. This trade represents a 21.15 % 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. 1.88% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

TDY has been the topic of several research reports. 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 report on Thursday, October 24th. Needham & Company LLC raised their price objective on Teledyne Technologies from $528.00 to $550.00 and gave the stock a “buy” rating in a report on Monday, November 11th. 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 shares of Teledyne Technologies from a “neutral” rating to a “buy” rating and raised their price target for the company from $450.00 to $550.00 in a report on Friday, November 8th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, Teledyne Technologies presently has an average rating of “Buy” and a consensus target price 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.