Ascent Group LLC Sells 5,597 Shares of Teledyne Technologies Incorporated (NYSE:TDY)

Ascent Group LLC lowered its stake in Teledyne Technologies Incorporated (NYSE:TDY) by 85.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 938 shares of the scientific and technical instruments company’s stock after selling 5,597 shares during the period. Ascent Group LLC’s holdings in Teledyne Technologies were worth $411,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in TDY. Wolff Wiese Magana LLC bought a new stake in Teledyne Technologies in the third quarter valued at $27,000. American National Bank bought a new stake in shares of Teledyne Technologies during the 2nd quarter valued at $28,000. Innealta Capital LLC bought a new stake in shares of Teledyne Technologies during the 2nd quarter valued at $28,000. Tortoise Investment Management LLC boosted its holdings in shares of Teledyne Technologies by 48.0% during the 2nd quarter. Tortoise Investment Management LLC now owns 74 shares of the scientific and technical instruments company’s stock valued at $29,000 after buying an additional 24 shares in the last quarter. Finally, Brooklyn Investment Group bought a new stake in shares of Teledyne Technologies during the 3rd quarter valued at $32,000. Institutional investors own 91.58% of the company’s stock.

Insider Activity

In other news, Chairman Robert Mehrabian sold 46,075 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were 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 represents a 21.15 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 1.88% of the company’s stock.

Analysts Set New Price Targets

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

Teledyne Technologies Price Performance

Shares of NYSE:TDY opened at $478.89 on Thursday. 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 simple moving average of $462.84 and a two-hundred day simple moving average of $426.47. 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 firm has a market cap of $22.32 billion, a price-to-earnings ratio of 24.21, a price-to-earnings-growth ratio of 3.33 and a beta of 1.01.

Teledyne Technologies (NYSE:TDY) last issued its earnings results on Wednesday, October 23rd. The scientific and technical instruments company reported $5.10 earnings per share for the quarter, topping analysts’ consensus estimates of $4.97 by $0.13. Teledyne Technologies had a return on equity of 10.02% and a net margin of 16.88%. The business had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.42 billion. During the same quarter in the previous year, the firm earned $5.05 EPS. Teledyne Technologies’s revenue was up 2.9% on a year-over-year basis. On average, analysts expect that Teledyne Technologies Incorporated will post 19.45 earnings per share for the current year.

Teledyne Technologies Profile

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.