Teledyne Technologies Incorporated (NYSE:TDY) Shares Bought by Bank of Montreal Can

Bank of Montreal Can raised its holdings in Teledyne Technologies Incorporated (NYSE:TDY) by 56.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 59,771 shares of the scientific and technical instruments company’s stock after purchasing an additional 21,656 shares during the period. Bank of Montreal Can owned about 0.13% of Teledyne Technologies worth $26,045,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in TDY. Kayne Anderson Rudnick Investment Management LLC grew its stake in Teledyne Technologies by 17.8% in the 2nd 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 acquiring an additional 186,849 shares during the period. Assenagon Asset Management S.A. grew its position 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 purchasing an additional 87,925 shares during the period. International Assets Investment Management LLC grew its position 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 purchasing an additional 73,799 shares during the period. Millennium Management LLC increased its stake in shares of Teledyne Technologies by 88.4% during the second quarter. Millennium Management LLC now owns 127,752 shares of the scientific and technical instruments company’s stock worth $49,565,000 after purchasing an additional 59,942 shares in the last quarter. Finally, Distillate Capital Partners LLC acquired a new position in shares of Teledyne Technologies during the 2nd quarter worth about $14,529,000. 91.58% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have commented on TDY. Needham & Company LLC boosted their price objective on Teledyne Technologies from $528.00 to $550.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Bank of America upgraded Teledyne Technologies from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $450.00 to $550.00 in a research report on Friday, November 8th. TD Cowen raised their price objective on Teledyne Technologies from $450.00 to $500.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Finally, StockNews.com raised shares of Teledyne Technologies from a “hold” rating to a “buy” rating in a report on Wednesday, October 2nd. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $517.50.

Teledyne Technologies Stock Performance

NYSE TDY opened at $486.14 on Friday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.35 and a current ratio of 2.00. The stock’s fifty day moving average is $460.12 and its two-hundred day moving average is $424.70. The firm has a market capitalization of $22.65 billion, a P/E ratio of 24.58, a price-to-earnings-growth ratio of 3.37 and a beta of 1.01. Teledyne Technologies Incorporated has a fifty-two week low of $355.41 and a fifty-two week high of $492.00.

Teledyne Technologies (NYSE:TDY) last announced its quarterly earnings results on Wednesday, October 23rd. The scientific and technical instruments company reported $5.10 earnings per share for the quarter, beating the consensus estimate of $4.97 by $0.13. Teledyne Technologies had a net margin of 16.88% and a return on equity of 10.02%. The firm had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.42 billion. During the same quarter in the previous year, the company posted $5.05 EPS. The company’s revenue was up 2.9% compared to the same quarter last year. On average, research analysts anticipate that Teledyne Technologies Incorporated will post 19.45 earnings per share for the current year.

Insider Transactions at Teledyne Technologies

In other Teledyne Technologies 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 transaction of $22,453,729.75. Following the completion of the sale, the chairman now 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 through the SEC website. Insiders own 2.14% of the company’s stock.

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.