CIBC Asset Management Inc raised its stake in shares of Teledyne Technologies Incorporated (NYSE:TDY – Get Rating) by 8.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,692 shares of the scientific and technical instruments company’s stock after buying an additional 517 shares during the quarter. CIBC Asset Management Inc’s holdings in Teledyne Technologies were worth $2,676,000 at the end of the most recent quarter.
A number of other large investors have also added to or reduced their stakes in the stock. Accurate Wealth Management LLC purchased a new position in shares of Teledyne Technologies in the fourth quarter worth $28,000. Belpointe Asset Management LLC purchased a new position in shares of Teledyne Technologies in the fourth quarter worth $36,000. CI Investments Inc. raised its stake in shares of Teledyne Technologies by 113.8% in the fourth quarter. CI Investments Inc. now owns 124 shares of the scientific and technical instruments company’s stock worth $50,000 after purchasing an additional 66 shares during the last quarter. FourThought Financial LLC raised its stake in shares of Teledyne Technologies by 53.8% in the third quarter. FourThought Financial LLC now owns 140 shares of the scientific and technical instruments company’s stock worth $47,000 after purchasing an additional 49 shares during the last quarter. Finally, Standard Family Office LLC purchased a new position in shares of Teledyne Technologies in the third quarter worth $49,000. Hedge funds and other institutional investors own 91.10% of the company’s stock.
Wall Street Analyst Weigh In
A number of analysts recently commented on the company. StockNews.com upgraded Teledyne Technologies from a “hold” rating to a “buy” rating in a research report on Friday, May 26th. Bank of America upped their price objective on Teledyne Technologies from $533.00 to $565.00 in a research report on Thursday, May 25th. Credit Suisse Group reduced their price objective on Teledyne Technologies from $503.00 to $499.00 in a research report on Friday, April 28th. Finally, Needham & Company LLC reduced their price objective on Teledyne Technologies from $498.00 to $470.00 in a research report on Thursday, April 27th. One research analyst has rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $505.50.
Teledyne Technologies Stock Performance
Teledyne Technologies (NYSE:TDY – Get Rating) last released its quarterly earnings results on Wednesday, April 26th. The scientific and technical instruments company reported $4.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.43 by $0.10. Teledyne Technologies had a return on equity of 10.98% and a net margin of 13.67%. The business had revenue of $1.38 billion during the quarter, compared to analyst estimates of $1.37 billion. During the same quarter in the previous year, the company posted $4.27 earnings per share. Teledyne Technologies’s revenue for the quarter was up 4.7% on a year-over-year basis. Analysts forecast that Teledyne Technologies Incorporated will post 19.12 EPS for the current year.
Insider Buying and Selling at Teledyne Technologies
In other news, VP Melanie Susan Cibik sold 2,000 shares of the company’s stock in a transaction dated Monday, May 15th. The stock was sold at an average price of $413.00, for a total value of $826,000.00. Following the completion of the transaction, the vice president now owns 27,305 shares of the company’s stock, valued at $11,276,965. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 2.14% of the stock is currently owned by corporate insiders.
About Teledyne Technologies
Teledyne Technologies, Inc engages in the provision of electronic and communication products for wireless and satellite systems. It operates through the following business segments: Instrumentation, Digital Imaging, Aerospace and Defense Electronics, and Engineered Systems. The Instrumentation segment provides monitoring and control instruments for marine, environmental, industrial, and other applications, and electronic test and measurement equipment.
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