Brown Advisory Inc. Acquires 43,961 Shares of Teledyne Technologies Incorporated (NYSE:TDY)

Posted by Defense World Staff on Jun 11th, 2023

Brown Advisory Inc. lifted its position in shares of Teledyne Technologies Incorporated (NYSE:TDY – Get Rating) by 4,846.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 44,868 shares of the scientific and technical instruments company’s stock after purchasing an additional 43,961 shares during the period. Brown Advisory Inc. owned about 0.10% of Teledyne Technologies worth $17,943,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in TDY. Accurate Wealth Management LLC acquired a new position in shares of Teledyne Technologies in the fourth quarter worth approximately $28,000. Belpointe Asset Management LLC acquired a new position in shares of Teledyne Technologies during the fourth quarter worth approximately $36,000. FourThought Financial LLC raised its position in shares of Teledyne Technologies by 53.8% during 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 period. Standard Family Office LLC bought a new stake in Teledyne Technologies during the third quarter worth $49,000. Finally, CI Investments Inc. grew its holdings in Teledyne Technologies by 113.8% during the fourth quarter. CI Investments Inc. now owns 124 shares of the scientific and technical instruments company’s stock worth $50,000 after buying an additional 66 shares in the last quarter. 91.10% of the stock is currently owned by institutional investors.

Teledyne Technologies Price Performance

TDY opened at $391.99 on Friday. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.94 and a quick ratio of 1.30. The stock’s 50 day simple moving average is $415.18 and its 200 day simple moving average is $417.57. The firm has a market cap of $18.44 billion, a price-to-earnings ratio of 24.81, a PEG ratio of 3.17 and a beta of 1.08. Teledyne Technologies Incorporated has a 1 year low of $325.00 and a 1 year high of $448.71.

Teledyne Technologies (NYSE:TDY – Get Rating) last announced its quarterly earnings results on Wednesday, April 26th. The scientific and technical instruments company reported $4.53 EPS for the quarter, topping analysts’ consensus estimates of $4.43 by $0.10. The business had revenue of $1.38 billion for the quarter, compared to analysts’ expectations of $1.37 billion. Teledyne Technologies had a return on equity of 10.98% and a net margin of 13.67%. The business’s quarterly revenue was up 4.7% on a year-over-year basis. During the same period in the previous year, the firm earned $4.27 EPS. As a group, analysts predict that Teledyne Technologies Incorporated will post 19.12 earnings per share for the current year.

Insiders Place Their Bets

In other news, VP Melanie Susan Cibik sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $413.00, for a total transaction of $826,000.00. Following the transaction, the vice president now directly owns 27,305 shares of the company’s stock, valued at $11,276,965. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 2.14% of the company’s stock.

Analyst Upgrades and Downgrades

TDY has been the subject of a number of recent analyst reports. Needham & Company LLC reduced their price objective on Teledyne Technologies from $498.00 to $470.00 in a research note on Thursday, April 27th. Credit Suisse Group lowered their price target on Teledyne Technologies from $503.00 to $499.00 in a report on Friday, April 28th. StockNews.com upgraded Teledyne Technologies from a “hold” rating to a “buy” rating in a research report on Friday, May 26th. Finally, Bank of America increased their price objective on Teledyne Technologies from $533.00 to $565.00 in a research report on Thursday, May 25th. One equities research analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Teledyne Technologies presently has a consensus rating of “Moderate Buy” and an average price target of $505.50.

About Teledyne Technologies

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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.