Benjamin Edwards Inc. Grows Stock Holdings in Teledyne Technologies Incorporated (NYSE:TDY)

Benjamin Edwards Inc. grew its position in Teledyne Technologies Incorporated (NYSE:TDY) by 1,030.2% during the third quarter, Holdings Channel reports. The institutional investor owned 1,085 shares of the scientific and technical instruments company’s stock after acquiring an additional 989 shares during the quarter. Benjamin Edwards Inc.’s holdings in Teledyne Technologies were worth $475,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Wolff Wiese Magana LLC purchased a new position in Teledyne Technologies in the third quarter worth $27,000. American National Bank purchased a new position in Teledyne Technologies during the 2nd quarter worth $28,000. Innealta Capital LLC acquired a new position in Teledyne Technologies during the 2nd quarter valued at about $28,000. Tortoise Investment Management LLC raised its stake in Teledyne Technologies by 48.0% in the second quarter. Tortoise Investment Management LLC now owns 74 shares of the scientific and technical instruments company’s stock valued at $29,000 after buying an additional 24 shares during the last quarter. Finally, Brooklyn Investment Group acquired a new stake in Teledyne Technologies in the third quarter worth about $32,000. Institutional investors own 91.58% of the company’s stock.

Insider Activity at Teledyne Technologies

In related news, Chairman Robert Mehrabian sold 3,925 shares of the firm’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $490.50, for a total transaction of $1,925,212.50. Following the sale, the chairman now owns 171,802 shares in the company, valued at approximately $84,268,881. This trade represents a 2.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.14% of the stock is owned by company insiders.

Teledyne Technologies Stock Down 0.7 %

TDY stock opened at $473.55 on Monday. The company has a market capitalization of $22.07 billion, a P/E ratio of 23.94, a price-to-earnings-growth ratio of 3.32 and a beta of 1.01. Teledyne Technologies Incorporated has a 12 month low of $355.41 and a 12 month high of $492.00. The firm’s fifty day simple moving average is $464.41 and its 200-day simple moving average is $427.55. 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 (NYSE:TDY) last announced its quarterly earnings results 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 for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period last year, the firm earned $5.05 EPS. As a group, equities research analysts forecast that Teledyne Technologies Incorporated will post 19.45 earnings per share for the current year.

Wall Street Analyst Weigh In

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

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.