Connor Clark & Lunn Investment Management Ltd. Sells 12,391 Shares of Teledyne Technologies Incorporated (NYSE:TDY)

Connor Clark & Lunn Investment Management Ltd. lessened its stake in Teledyne Technologies Incorporated (NYSE:TDY) by 77.2% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,654 shares of the scientific and technical instruments company’s stock after selling 12,391 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Teledyne Technologies were worth $1,599,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of TDY. Tidal Investments LLC boosted its holdings in Teledyne Technologies by 131.5% during the 1st quarter. Tidal Investments LLC now owns 3,737 shares of the scientific and technical instruments company’s stock worth $1,604,000 after acquiring an additional 2,123 shares during the last quarter. Royal London Asset Management Ltd. boosted its holdings in Teledyne Technologies by 11.7% during the second quarter. Royal London Asset Management Ltd. now owns 20,498 shares of the scientific and technical instruments company’s stock worth $7,953,000 after purchasing an additional 2,152 shares during the last quarter. Bank of Montreal Can boosted its holdings in Teledyne Technologies by 14.2% during the second quarter. Bank of Montreal Can now owns 38,115 shares of the scientific and technical instruments company’s stock worth $14,922,000 after purchasing an additional 4,731 shares during the last quarter. Congress Asset Management Co. grew its position in Teledyne Technologies by 0.7% in the 3rd quarter. Congress Asset Management Co. now owns 274,769 shares of the scientific and technical instruments company’s stock worth $120,255,000 after purchasing an additional 1,805 shares in the last quarter. Finally, ING Groep NV purchased a new stake in Teledyne Technologies in the 3rd quarter valued at about $1,064,000. Hedge funds and other institutional investors own 91.58% of the company’s stock.

Insider Activity at Teledyne Technologies

In related news, Chairman Robert Mehrabian sold 46,075 shares of the business’s stock in a transaction 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 sale, the chairman now directly owns 171,802 shares in the company, valued at approximately $83,724,268.66. The trade was a 21.15 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.88% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on TDY shares. Bank of America raised Teledyne Technologies from a “neutral” rating to a “buy” rating and upped their target price for the company from $450.00 to $550.00 in a report on Friday, November 8th. StockNews.com upgraded Teledyne Technologies from a “hold” rating to a “buy” rating in a research note on Wednesday, October 2nd. Needham & Company LLC lifted their target price on Teledyne Technologies from $528.00 to $550.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Finally, TD Cowen increased their price target on shares of Teledyne Technologies from $450.00 to $500.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Five analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $517.50.

Teledyne Technologies Stock Performance

NYSE:TDY opened at $477.45 on Tuesday. The company has a market capitalization of $22.25 billion, a P/E ratio of 24.14, a P/E/G ratio of 3.36 and a beta of 1.01. The business has a fifty day simple moving average of $454.91 and a two-hundred day simple moving average of $421.97. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.00 and a quick ratio of 1.35. Teledyne Technologies Incorporated has a 1 year low of $355.41 and a 1 year high of $492.00.

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