HighTower Advisors LLC Has $3.43 Million Stock Position in Teledyne Technologies Incorporated (NYSE:TDY)

HighTower Advisors LLC lowered its stake in Teledyne Technologies Incorporated (NYSE:TDY) by 2.6% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 7,827 shares of the scientific and technical instruments company’s stock after selling 210 shares during the quarter. HighTower Advisors LLC’s holdings in Teledyne Technologies were worth $3,427,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Hilltop Holdings Inc. bought a new stake in shares of Teledyne Technologies in the 3rd quarter valued at $203,000. Cinctive Capital Management LP bought a new stake in shares of Teledyne Technologies in the 3rd quarter valued at $438,000. Beacon Investment Advisory Services Inc. bought a new stake in shares of Teledyne Technologies in the 3rd quarter valued at $214,000. Benjamin Edwards Inc. increased its position in shares of Teledyne Technologies by 1,030.2% in the 3rd quarter. Benjamin Edwards Inc. now owns 1,085 shares of the scientific and technical instruments company’s stock valued at $475,000 after buying an additional 989 shares in the last quarter. Finally, Paloma Partners Management Co bought a new stake in shares of Teledyne Technologies in the 3rd quarter valued at $486,000. Institutional investors and hedge funds own 91.58% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on TDY shares. UBS Group started coverage on shares of Teledyne Technologies in a research report on Tuesday. They issued a “buy” rating and a $585.00 price objective for the company. Bank of America raised Teledyne Technologies from a “neutral” rating to a “buy” rating and lifted their price target for the company from $450.00 to $550.00 in a research note on Friday, November 8th. StockNews.com raised Teledyne Technologies from a “hold” rating to a “buy” rating in a research note on Wednesday, October 2nd. Needham & Company LLC lifted their price target on Teledyne Technologies from $528.00 to $550.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Finally, TD Cowen lifted their price target on Teledyne Technologies from $450.00 to $500.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, Teledyne Technologies currently has a consensus rating of “Buy” and an average price target of $531.00.

Teledyne Technologies Price Performance

NYSE:TDY opened at $474.77 on Thursday. 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 50-day simple moving average is $466.32 and its 200 day simple moving average is $428.84. The company has a market cap of $22.12 billion, a P/E ratio of 24.00, a P/E/G ratio of 3.29 and a beta of 1.01. Teledyne Technologies Incorporated has a 52-week low of $355.41 and a 52-week high of $492.00.

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 analysts’ consensus estimates of $4.97 by $0.13. The business had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.42 billion. Teledyne Technologies had a return on equity of 10.02% and a net margin of 16.88%. Teledyne Technologies’s quarterly revenue was up 2.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $5.05 earnings per share. As a group, sell-side analysts forecast that Teledyne Technologies Incorporated will post 19.45 EPS for the current fiscal year.

Insiders Place Their Bets

In other Teledyne Technologies news, Chairman Robert Mehrabian sold 3,925 shares of the business’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 transaction, the chairman now owns 171,802 shares of the company’s stock, valued at $84,268,881. The trade was a 2.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.88% of the company’s stock.

Teledyne Technologies Company 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.