FORA Capital LLC Trims Stock Position in Teledyne Technologies Incorporated (NYSE:TDY)

FORA Capital LLC trimmed its holdings in shares of Teledyne Technologies Incorporated (NYSE:TDY) by 46.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,635 shares of the scientific and technical instruments company’s stock after selling 3,151 shares during the quarter. FORA Capital LLC’s holdings in Teledyne Technologies were worth $1,591,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Tidal Investments LLC increased its holdings in Teledyne Technologies by 131.5% during the first quarter. Tidal Investments LLC now owns 3,737 shares of the scientific and technical instruments company’s stock valued at $1,604,000 after buying an additional 2,123 shares during the period. Royal London Asset Management Ltd. increased its holdings in Teledyne Technologies by 11.7% during the second quarter. Royal London Asset Management Ltd. now owns 20,498 shares of the scientific and technical instruments company’s stock valued at $7,953,000 after buying an additional 2,152 shares during the period. Bank of Montreal Can increased its holdings in Teledyne Technologies by 14.2% during the second 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. Congress Asset Management Co. increased its holdings in Teledyne Technologies by 0.7% during the third quarter. Congress Asset Management Co. now owns 274,769 shares of the scientific and technical instruments company’s stock valued at $120,255,000 after buying an additional 1,805 shares during the period. Finally, ING Groep NV purchased a new position in Teledyne Technologies during the third quarter valued at approximately $1,064,000. 91.58% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Teledyne Technologies

In other news, Chairman Robert Mehrabian sold 46,075 shares of the stock in a transaction on Monday, November 11th. The shares were sold at an average price of $487.33, for a total value of $22,453,729.75. Following the sale, the chairman now owns 171,802 shares in the company, valued at $83,724,268.66. This 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 through the SEC website. Company insiders own 1.88% of the company’s stock.

Teledyne Technologies Price Performance

NYSE TDY opened at $485.68 on Thursday. The firm’s fifty day simple moving average is $458.07 and its two-hundred day simple moving average is $423.61. The company has a current ratio of 2.00, a quick ratio of 1.35 and a debt-to-equity ratio of 0.28. Teledyne Technologies Incorporated has a 12-month low of $355.41 and a 12-month high of $492.00. The firm has a market capitalization of $22.63 billion, a P/E ratio of 24.55, a P/E/G ratio of 3.31 and a beta of 1.01.

Teledyne Technologies (NYSE:TDY) last released its earnings results on Wednesday, October 23rd. The scientific and technical instruments company reported $5.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.97 by $0.13. Teledyne Technologies had a return on equity of 10.02% and a net margin of 16.88%. The firm had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.42 billion. During the same period in the prior year, the firm earned $5.05 EPS. The firm’s revenue was up 2.9% on a year-over-year basis. Analysts forecast that Teledyne Technologies Incorporated will post 19.45 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on TDY shares. StockNews.com raised shares of Teledyne Technologies from a “hold” rating to a “buy” rating in a report on Wednesday, October 2nd. TD Cowen lifted their price target on shares of Teledyne Technologies from $450.00 to $500.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Bank of America raised shares of Teledyne Technologies from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $450.00 to $550.00 in a report on Friday, November 8th. Finally, Needham & Company LLC lifted their price target on shares of 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.com, Teledyne Technologies presently has an average 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.