Cibc World Markets Corp Raises Stock Holdings in Teledyne Technologies Incorporated (NYSE:TDY)

Cibc World Markets Corp lifted its holdings in Teledyne Technologies Incorporated (NYSE:TDY) by 14.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 7,335 shares of the scientific and technical instruments company’s stock after buying an additional 909 shares during the quarter. Cibc World Markets Corp’s holdings in Teledyne Technologies were worth $3,404,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of TDY. Madison Investment Advisors LLC purchased a new position in Teledyne Technologies during the 4th quarter worth $94,721,000. Raymond James Financial Inc. purchased a new position in Teledyne Technologies during the 4th quarter worth $53,304,000. JPMorgan Chase & Co. increased its holdings in Teledyne Technologies by 6.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,150,065 shares of the scientific and technical instruments company’s stock worth $503,338,000 after purchasing an additional 64,617 shares during the period. Diamond Hill Capital Management Inc. purchased a new position in Teledyne Technologies during the 4th quarter worth $29,348,000. Finally, Proficio Capital Partners LLC purchased a new position in Teledyne Technologies during the 4th quarter worth $29,081,000. 91.58% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Teledyne Technologies

In other news, COO George C. Bobb III sold 6,308 shares of the firm’s stock in a transaction on Friday, January 24th. The stock was sold at an average price of $507.77, for a total value of $3,203,013.16. Following the completion of the sale, the chief operating officer now owns 10,482 shares of the company’s stock, valued at $5,322,445.14. This trade represents a 37.57 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Robert Mehrabian sold 5,768 shares of the firm’s stock in a transaction on Friday, January 31st. The stock was sold at an average price of $518.22, for a total value of $2,989,092.96. Following the completion of the sale, the chairman now directly owns 144,553 shares of the company’s stock, valued at $74,910,255.66. The trade was a 3.84 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 34,571 shares of company stock valued at $17,709,721 in the last quarter. 2.14% of the stock is currently owned by corporate insiders.

Teledyne Technologies Trading Down 0.2 %

Shares of NYSE:TDY opened at $499.60 on Friday. Teledyne Technologies Incorporated has a 12-month low of $355.41 and a 12-month high of $522.50. The business’s fifty day simple moving average is $496.34 and its 200-day simple moving average is $471.23. The company has a market capitalization of $23.40 billion, a PE ratio of 29.00, a P/E/G ratio of 3.14 and a beta of 1.03. The company has a current ratio of 2.33, a quick ratio of 1.61 and a debt-to-equity ratio of 0.28.

Teledyne Technologies (NYSE:TDY) last posted its quarterly earnings data on Wednesday, January 22nd. The scientific and technical instruments company reported $5.52 earnings per share for the quarter, topping analysts’ consensus estimates of $5.23 by $0.29. The firm had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.45 billion. Teledyne Technologies had a return on equity of 9.94% and a net margin of 14.45%. The business’s quarterly revenue was up 5.4% on a year-over-year basis. During the same quarter last year, the firm earned $5.44 EPS. As a group, equities research analysts predict that Teledyne Technologies Incorporated will post 21.55 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

TDY has been the topic of several research reports. Needham & Company LLC restated a “buy” rating and set a $585.00 price objective on shares of Teledyne Technologies in a report on Wednesday, February 5th. UBS Group initiated coverage on Teledyne Technologies in a report on Tuesday, December 10th. They issued a “buy” rating and a $585.00 price target on the stock. Finally, Bank of America lifted their price target on Teledyne Technologies from $550.00 to $600.00 and gave the company a “buy” rating in a report on Monday. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $548.00.

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.