B. Riley Wealth Advisors Inc. Sells 195 Shares of Teledyne Technologies Incorporated (NYSE:TDY)

Posted by Defense World Staff on Oct 25th, 2023

B. Riley Wealth Advisors Inc. cut its holdings in Teledyne Technologies Incorporated (NYSE:TDY – Free Report) by 27.9% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 505 shares of the scientific and technical instruments company’s stock after selling 195 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in Teledyne Technologies were worth $208,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in TDY. Raymond James Financial Services Advisors Inc. increased its holdings in shares of Teledyne Technologies by 93.4% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 4,068 shares of the scientific and technical instruments company’s stock worth $1,923,000 after buying an additional 1,965 shares during the last quarter. American Century Companies Inc. boosted its stake in shares of Teledyne Technologies by 4.0% during the 1st quarter. American Century Companies Inc. now owns 1,911 shares of the scientific and technical instruments company’s stock worth $903,000 after purchasing an additional 74 shares during the period. Private Advisor Group LLC boosted its stake in shares of Teledyne Technologies by 40.1% during the 1st quarter. Private Advisor Group LLC now owns 796 shares of the scientific and technical instruments company’s stock worth $376,000 after purchasing an additional 228 shares during the period. Cibc World Market Inc. boosted its stake in shares of Teledyne Technologies by 62.5% during the 1st quarter. Cibc World Market Inc. now owns 1,370 shares of the scientific and technical instruments company’s stock worth $648,000 after purchasing an additional 527 shares during the period. Finally, Canada Pension Plan Investment Board boosted its stake in shares of Teledyne Technologies by 1,272.5% during the 1st quarter. Canada Pension Plan Investment Board now owns 1,400 shares of the scientific and technical instruments company’s stock worth $662,000 after purchasing an additional 1,298 shares during the period. 87.57% of the stock is currently owned by institutional investors.

Teledyne Technologies Price Performance

Shares of TDY opened at $386.19 on Wednesday. The company has a 50 day moving average price of $408.54 and a 200-day moving average price of $407.30. Teledyne Technologies Incorporated has a fifty-two week low of $355.54 and a fifty-two week high of $448.71. The stock has a market capitalization of $18.18 billion, a PE ratio of 24.02, a PEG ratio of 3.20 and a beta of 1.02. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.02 and a current ratio of 1.62.

Teledyne Technologies (NYSE:TDY – Get Free Report) last posted its quarterly earnings data on Wednesday, July 26th. The scientific and technical instruments company reported $4.67 EPS for the quarter, topping the consensus estimate of $4.63 by $0.04. The firm had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.41 billion. Teledyne Technologies had a net margin of 13.75% and a return on equity of 10.90%. Teledyne Technologies’s revenue was up 5.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $4.43 EPS. Equities analysts predict that Teledyne Technologies Incorporated will post 19.11 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, VP Melanie Susan Cibik sold 13,000 shares of the business’s stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $422.40, for a total transaction of $5,491,200.00. Following the completion of the transaction, the vice president now owns 27,305 shares in the company, valued at approximately $11,533,632. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Teledyne Technologies news, VP Melanie Susan Cibik sold 13,000 shares of the company’s stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $422.40, for a total transaction of $5,491,200.00. Following the transaction, the vice president now owns 27,305 shares in the company, valued at approximately $11,533,632. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Robert Mehrabian sold 45,500 shares of the company’s stock in a transaction that occurred on Tuesday, August 29th. The shares were sold at an average price of $416.13, for a total transaction of $18,933,915.00. Following the transaction, the chief executive officer now owns 196,052 shares in the company, valued at approximately $81,583,118.76. The disclosure for this sale can be found here. Insiders sold a total of 61,646 shares of company stock worth $25,717,295 in the last 90 days. 2.14% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $455.00 price target on shares of Teledyne Technologies in a research note on Tuesday. StockNews.com started coverage on shares of Teledyne Technologies in a research report on Thursday, October 5th. They issued a “hold” rating for the company. UBS Group started coverage on shares of Teledyne Technologies in a research report on Wednesday, September 27th. They issued a “buy” rating and a $495.00 price objective for the company. The Goldman Sachs Group raised shares of Teledyne Technologies from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $423.00 to $495.00 in a research report on Monday, August 14th. Finally, BNP Paribas started coverage on shares of Teledyne Technologies in a research report on Thursday, October 5th. They issued an “outperform” rating and a $530.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Teledyne Technologies has an average rating of “Moderate Buy” and a consensus price target of $503.86.

View Our Latest Stock Analysis on TDY

Teledyne Technologies Profile

(Free Report)

Teledyne Technologies Incorporated, together with its subsidiaries, provides enabling technologies for industrial growth markets in the United States, Canada, the United Kingdom, France, and internationally. 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.