Covea Finance Acquires 4,300 Shares of Teledyne Technologies Incorporated (NYSE:TDY)

by · The Markets Daily

Covea Finance increased its stake in shares of Teledyne Technologies Incorporated (NYSE:TDY – Free Report) by 25.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,400 shares of the scientific and technical instruments company’s stock after buying an additional 4,300 shares during the period. Covea Finance’s holdings in Teledyne Technologies were worth $9,932,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. lifted its position in shares of Teledyne Technologies by 6.0% during the third 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 in the last quarter. Verition Fund Management LLC lifted its holdings in Teledyne Technologies by 240.5% during the 3rd quarter. Verition Fund Management LLC now owns 36,524 shares of the scientific and technical instruments company’s stock worth $15,985,000 after buying an additional 25,796 shares in the last quarter. National Bank of Canada FI boosted its position in Teledyne Technologies by 217.5% in the 3rd quarter. National Bank of Canada FI now owns 53,819 shares of the scientific and technical instruments company’s stock valued at $23,554,000 after buying an additional 36,867 shares during the last quarter. West Oak Capital LLC raised its position in shares of Teledyne Technologies by 4,721.8% during the fourth quarter. West Oak Capital LLC now owns 11,283 shares of the scientific and technical instruments company’s stock worth $5,237,000 after acquiring an additional 11,049 shares during the last quarter. Finally, Polar Asset Management Partners Inc. bought a new stake in Teledyne Technologies during the 3rd quarter worth about $5,208,000. Institutional investors own 91.58% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on TDY shares. Needham & Company LLC boosted their price objective on Teledyne Technologies from $528.00 to $550.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Bank of America raised Teledyne Technologies from a “neutral” rating to a “buy” rating and lifted their target price for the company from $450.00 to $550.00 in a research report on Friday, November 8th. UBS Group started coverage on Teledyne Technologies in a research report on Tuesday, December 10th. They set a “buy” rating and a $585.00 price target for the company. StockNews.com upgraded Teledyne Technologies from a “hold” rating to a “buy” rating in a research note on Wednesday, October 2nd. Finally, TD Cowen upped their price objective on Teledyne Technologies from $450.00 to $500.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $531.00.

Check Out Our Latest Report on TDY

Teledyne Technologies Price Performance

Shares of TDY opened at $465.87 on Wednesday. The company’s 50-day moving average is $472.65 and its 200-day moving average is $441.88. 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 firm has a market capitalization of $21.71 billion, a PE ratio of 23.55, a PEG ratio of 3.30 and a beta of 1.01. Teledyne Technologies Incorporated has a fifty-two week low of $355.41 and a fifty-two week high of $492.00.

Teledyne Technologies (NYSE:TDY – Get Free Report) last issued its quarterly earnings data on Wednesday, October 23rd. The scientific and technical instruments company reported $5.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.97 by $0.13. The company had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.42 billion. Teledyne Technologies had a return on equity of 10.02% and a net margin of 16.88%. The business’s revenue was up 2.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $5.05 earnings per share. Equities analysts forecast that Teledyne Technologies Incorporated will post 19.45 EPS for the current year.

Insiders Place Their Bets

In related news, Vice Chairman Jason Vanwees sold 1,500 shares of the firm’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $488.71, for a total transaction of $733,065.00. Following the transaction, the insider now directly owns 2,900 shares of the company’s stock, valued at approximately $1,417,259. This trade represents a 34.09 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Robert Mehrabian sold 46,075 shares of the business’s stock in a transaction dated Monday, November 11th. The shares were 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 directly owns 171,802 shares of the company’s stock, valued at $83,724,268.66. This represents a 21.15 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 53,525 shares of company stock worth $26,080,464 in the last 90 days. Company insiders own 1.88% of the company’s stock.

Teledyne Technologies Profile

(Free Report)

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.

See Also

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