Metropolitan Life Insurance Co NY decreased its holdings in Teledyne Technologies Incorporated (NYSE:TDY) by 1.9% during the third quarter, Holdings Channel.com reports. The firm owned 10,139 shares of the scientific and technical instruments company’s stock after selling 199 shares during the period. Metropolitan Life Insurance Co NY’s holdings in Teledyne Technologies were worth $3,265,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of TDY. Nuveen Asset Management LLC acquired a new position in shares of Teledyne Technologies in the 2nd quarter valued at about $82,050,000. BlackRock Inc. increased its holdings in shares of Teledyne Technologies by 7.5% in the 2nd quarter. BlackRock Inc. now owns 4,024,326 shares of the scientific and technical instruments company’s stock valued at $1,102,140,000 after purchasing an additional 281,116 shares during the period. Congress Asset Management Co. MA acquired a new position in shares of Teledyne Technologies in the 3rd quarter valued at about $88,581,000. Invesco Ltd. increased its holdings in shares of Teledyne Technologies by 50.8% in the 2nd quarter. Invesco Ltd. now owns 406,704 shares of the scientific and technical instruments company’s stock valued at $111,384,000 after purchasing an additional 137,078 shares during the period. Finally, Panagora Asset Management Inc. increased its holdings in shares of Teledyne Technologies by 170.5% in the 2nd quarter. Panagora Asset Management Inc. now owns 95,210 shares of the scientific and technical instruments company’s stock valued at $26,075,000 after purchasing an additional 60,008 shares during the period. Institutional investors own 84.77% of the company’s stock.
A number of equities analysts have recently weighed in on TDY shares. ValuEngine downgraded Teledyne Technologies from a “hold” rating to a “sell” rating in a report on Friday, November 1st. Cowen set a $375.00 target price on Teledyne Technologies and gave the company a “buy” rating in a report on Friday, September 27th. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $312.50.
Teledyne Technologies (NYSE:TDY) last announced its quarterly earnings results on Wednesday, October 23rd. The scientific and technical instruments company reported $2.84 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.53 by $0.31. The business had revenue of $802.20 million during the quarter, compared to analysts’ expectations of $786.55 million. Teledyne Technologies had a return on equity of 15.52% and a net margin of 12.27%. The firm’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.43 EPS. On average, analysts predict that Teledyne Technologies Incorporated will post 10.42 EPS for the current year.
In other Teledyne Technologies news, EVP Jason Vanwees sold 7,000 shares of the company’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $328.27, for a total transaction of $2,297,890.00. Following the completion of the sale, the executive vice president now owns 35,349 shares of the company’s stock, valued at $11,604,016.23. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Schack Wesley W. Von sold 4,000 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $319.24, for a total value of $1,276,960.00. Following the sale, the director now directly owns 14,366 shares of the company’s stock, valued at approximately $4,586,201.84. The disclosure for this sale can be found here. In the last three months, insiders sold 37,712 shares of company stock valued at $12,443,774. 3.19% of the stock is currently owned by company insiders.
Teledyne Technologies Profile
Teledyne Technologies Incorporated provides instrumentation, digital imaging, aerospace and defense electronics, and engineered systems in the United States, the United Kingdom, Denmark, Canada, France, and the Netherlands. The company's Instrumentation segment offers monitoring and control instruments for marine, environmental, industrial, and other applications, as well as electronic test and measurement equipment; and power and communications connectivity devices for distributed instrumentation systems and sensor networks deployed in mission critical and harsh environments.
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