Metis Global Partners LLC Raises Holdings in Teledyne Technologies Incorporated (NYSE:TDY)

Metis Global Partners LLC increased its holdings in Teledyne Technologies Incorporated (NYSE:TDY) by 1.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,514 shares of the scientific and technical instruments company’s stock after buying an additional 24 shares during the period. Metis Global Partners LLC’s holdings in Teledyne Technologies were worth $663,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in TDY. Tortoise Investment Management LLC lifted its holdings in shares of Teledyne Technologies by 48.0% in the 2nd quarter. Tortoise Investment Management LLC now owns 74 shares of the scientific and technical instruments company’s stock worth $29,000 after acquiring an additional 24 shares during the last quarter. Crumly & Associates Inc. lifted its stake in Teledyne Technologies by 3.8% in the third quarter. Crumly & Associates Inc. now owns 677 shares of the scientific and technical instruments company’s stock worth $296,000 after acquiring an additional 25 shares during the period. Bleakley Financial Group LLC boosted its stake in shares of Teledyne Technologies by 4.0% during the 3rd quarter. Bleakley Financial Group LLC now owns 681 shares of the scientific and technical instruments company’s stock valued at $298,000 after purchasing an additional 26 shares in the last quarter. Summit Trail Advisors LLC boosted its position in Teledyne Technologies by 3.9% during the 2nd quarter. Summit Trail Advisors LLC now owns 720 shares of the scientific and technical instruments company’s stock valued at $279,000 after acquiring an additional 27 shares in the last quarter. Finally, Linscomb Wealth Inc. grew its stake in Teledyne Technologies by 4.4% in the second quarter. Linscomb Wealth Inc. now owns 695 shares of the scientific and technical instruments company’s stock worth $270,000 after purchasing an additional 29 shares during the period. 91.58% of the stock is currently owned by hedge funds and other institutional investors.

Teledyne Technologies Trading Down 1.3 %

Shares of TDY opened at $470.15 on Monday. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.00 and a quick ratio of 1.35. The company has a 50 day simple moving average of $450.27 and a two-hundred day simple moving average of $418.77. Teledyne Technologies Incorporated has a 1 year low of $355.41 and a 1 year high of $492.00. The firm has a market cap of $21.91 billion, a P/E ratio of 23.77, a price-to-earnings-growth ratio of 3.26 and a beta of 1.01.

Teledyne Technologies (NYSE:TDY) last announced 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. Teledyne Technologies had a return on equity of 10.02% and a net margin of 16.88%. The company had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.42 billion. During the same period in the prior year, the company earned $5.05 earnings per share. The firm’s revenue was up 2.9% on a year-over-year basis. On average, equities analysts expect that Teledyne Technologies Incorporated will post 19.45 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. TD Cowen upped their price objective 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. Vertical Research began coverage on Teledyne Technologies in a report on Tuesday, July 23rd. They issued a “buy” rating and a $470.00 price objective for the company. 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 research note on Monday, November 11th. StockNews.com upgraded shares of Teledyne Technologies from a “hold” rating to a “buy” rating in a research report on Wednesday, October 2nd. Finally, Bank of America upgraded 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 report on Friday, November 8th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Teledyne Technologies currently has a consensus rating of “Buy” and a consensus target price of $517.50.

Insider Activity at Teledyne Technologies

In related news, Chairman Robert Mehrabian sold 3,925 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $490.50, for a total transaction of $1,925,212.50. Following the completion of the sale, the chairman now directly owns 171,802 shares of the company’s stock, valued at approximately $84,268,881. This trade represents a 2.23 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.14% of the stock is owned by insiders.

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.