Teledyne Technologies Incorporated (NYSE:TDY) Shares Sold by Yacktman Asset Management LP

Yacktman Asset Management LP lessened its holdings in shares of Teledyne Technologies Incorporated (NYSE:TDY) by 54.5% during the 3rd quarter, Holdings Channel.com reports. The fund owned 7,500 shares of the scientific and technical instruments company’s stock after selling 9,000 shares during the period. Yacktman Asset Management LP’s holdings in Teledyne Technologies were worth $3,282,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Wolff Wiese Magana LLC acquired a new stake in Teledyne Technologies during the third quarter worth approximately $27,000. American National Bank purchased a new stake in Teledyne Technologies in the second quarter valued at $28,000. Innealta Capital LLC purchased a new position in shares of Teledyne Technologies during the second quarter worth about $28,000. Tortoise Investment Management LLC increased its position in shares of Teledyne Technologies by 48.0% during the second quarter. Tortoise Investment Management LLC now owns 74 shares of the scientific and technical instruments company’s stock worth $29,000 after purchasing an additional 24 shares in the last quarter. Finally, Crewe Advisors LLC lifted its holdings in shares of Teledyne Technologies by 319.0% in the 2nd quarter. Crewe Advisors LLC now owns 88 shares of the scientific and technical instruments company’s stock valued at $34,000 after purchasing an additional 67 shares during the last quarter. Hedge funds and other institutional investors own 91.58% of the company’s stock.

Teledyne Technologies Price Performance

Teledyne Technologies stock opened at $457.92 on Tuesday. 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 business has a 50 day simple moving average of $440.88 and a 200-day simple moving average of $413.09. Teledyne Technologies Incorporated has a 12 month low of $355.41 and a 12 month high of $475.73. The stock has a market capitalization of $21.34 billion, a PE ratio of 23.15, a price-to-earnings-growth ratio of 3.19 and a beta of 1.01.

Teledyne Technologies (NYSE:TDY) last released its earnings results on Wednesday, October 23rd. The scientific and technical instruments company reported $5.10 EPS for the quarter, topping the consensus estimate of $4.97 by $0.13. Teledyne Technologies had a net margin of 16.88% and a return on equity of 10.02%. The company had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.42 billion. During the same quarter last year, the business earned $5.05 EPS. The business’s revenue was up 2.9% on a year-over-year basis. Equities analysts predict that Teledyne Technologies Incorporated will post 19.44 earnings per share for the current year.

Analysts Set New Price Targets

TDY has been the topic of a number of research reports. TD Cowen raised their price target on Teledyne Technologies from $450.00 to $500.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. StockNews.com raised shares of Teledyne Technologies from a “hold” rating to a “buy” rating in a report on Wednesday, October 2nd. Vertical Research initiated coverage on shares of Teledyne Technologies in a research note on Tuesday, July 23rd. They set a “buy” rating and a $470.00 price target for the company. Finally, Needham & Company LLC lifted their price objective on shares of Teledyne Technologies from $482.00 to $528.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $474.50.

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.