Empowered Funds LLC Acquires 235 Shares of Teledyne Technologies Incorporated (NYSE:TDY)

Empowered Funds LLC raised its stake in Teledyne Technologies Incorporated (NYSE:TDY) by 38.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 851 shares of the scientific and technical instruments company’s stock after acquiring an additional 235 shares during the quarter. Empowered Funds LLC’s holdings in Teledyne Technologies were worth $372,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Wolff Wiese Magana LLC bought a new position in shares of Teledyne Technologies during the third quarter valued at $27,000. American National Bank purchased a new position in shares of Teledyne Technologies during the second quarter valued at approximately $28,000. Innealta Capital LLC bought a new stake in Teledyne Technologies during the second quarter worth $28,000. Tortoise Investment Management LLC grew its stake 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 in the last quarter. Finally, Crewe Advisors LLC boosted its holdings in Teledyne Technologies by 319.0% during the second quarter. Crewe Advisors LLC now owns 88 shares of the scientific and technical instruments company’s stock worth $34,000 after purchasing an additional 67 shares during the last quarter. 91.58% of the stock is owned by institutional investors.

Analyst Ratings Changes

TDY has been the subject of several recent analyst reports. StockNews.com raised Teledyne Technologies from a “hold” rating to a “buy” rating in a report on Wednesday, October 2nd. Bank of America raised shares of Teledyne Technologies from a “neutral” rating to a “buy” rating and increased their target price for the company from $450.00 to $550.00 in a research report on Friday, November 8th. TD Cowen increased 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, Needham & Company LLC upped their price objective 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. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $517.50.

Insider Transactions at Teledyne Technologies

In other news, Chairman Robert Mehrabian sold 46,075 shares of the stock in a transaction that occurred 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 approximately $83,724,268.66. This represents a 21.15 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 1.88% of the company’s stock.

Teledyne Technologies Price Performance

TDY stock opened at $477.45 on Tuesday. Teledyne Technologies Incorporated has a 12 month low of $355.41 and a 12 month high of $492.00. The firm has a 50 day moving average of $454.91 and a 200-day moving average of $421.97. The company has a current ratio of 2.00, a quick ratio of 1.35 and a debt-to-equity ratio of 0.28. The firm has a market capitalization of $22.25 billion, a P/E ratio of 24.45, a price-to-earnings-growth ratio of 3.36 and a beta of 1.01.

Teledyne Technologies (NYSE:TDY) last issued its quarterly earnings results on Wednesday, October 23rd. The scientific and technical instruments company reported $5.10 EPS for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $1.42 billion. During the same quarter in the prior year, the firm earned $5.05 EPS. The business’s revenue for the quarter was up 2.9% compared to the same quarter last year. As a group, sell-side analysts predict that Teledyne Technologies Incorporated will post 19.45 earnings per share for the current fiscal year.

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.