Teledyne Technologies Incorporated (NYSE:TDY) Shares Bought by Royal Bank of Canada

Royal Bank of Canada grew its position in shares of Teledyne Technologies Incorporated (NYSE:TDY) by 2.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 66,027 shares of the scientific and technical instruments company’s stock after purchasing an additional 1,394 shares during the period. Royal Bank of Canada owned 0.18% of Teledyne Technologies worth $18,083,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. BlackRock Inc. boosted its stake in shares of Teledyne Technologies by 7.5% during the 2nd quarter. BlackRock Inc. now owns 4,024,326 shares of the scientific and technical instruments company’s stock worth $1,102,140,000 after purchasing an additional 281,116 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Teledyne Technologies by 1.5% during the 2nd quarter. Vanguard Group Inc. now owns 3,238,899 shares of the scientific and technical instruments company’s stock worth $887,037,000 after purchasing an additional 47,526 shares during the last quarter. Janus Henderson Group PLC boosted its stake in shares of Teledyne Technologies by 0.9% during the 2nd quarter. Janus Henderson Group PLC now owns 2,186,982 shares of the scientific and technical instruments company’s stock worth $598,949,000 after purchasing an additional 19,732 shares during the last quarter. AQR Capital Management LLC boosted its stake in shares of Teledyne Technologies by 8.7% during the 2nd quarter. AQR Capital Management LLC now owns 734,943 shares of the scientific and technical instruments company’s stock worth $197,259,000 after purchasing an additional 58,582 shares during the last quarter. Finally, Wells Fargo & Company MN boosted its stake in shares of Teledyne Technologies by 1.8% during the 2nd quarter. Wells Fargo & Company MN now owns 702,982 shares of the scientific and technical instruments company’s stock worth $192,525,000 after purchasing an additional 12,710 shares during the last quarter. 85.06% of the stock is currently owned by institutional investors.

In related news, Director Simon M. Lorne sold 248 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $295.47, for a total value of $73,276.56. Following the transaction, the director now owns 31,271 shares in the company, valued at $9,239,642.37. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Sue Main sold 12,000 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $318.22, for a total transaction of $3,818,640.00. Following the completion of the transaction, the chief financial officer now owns 48,418 shares in the company, valued at approximately $15,407,575.96. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 24,248 shares of company stock worth $7,569,057. Insiders own 3.19% of the company’s stock.

Shares of TDY stock opened at $318.40 on Friday. The firm has a market cap of $11.53 billion, a P/E ratio of 35.86, a PEG ratio of 4.24 and a beta of 1.11. Teledyne Technologies Incorporated has a 1-year low of $189.35 and a 1-year high of $325.63. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.63 and a quick ratio of 1.08. The firm’s 50-day simple moving average is $312.02 and its 200-day simple moving average is $271.83.

Teledyne Technologies (NYSE:TDY) last announced its quarterly earnings data on Wednesday, July 24th. The scientific and technical instruments company reported $2.80 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.40 by $0.40. The business had revenue of $782.00 million for the quarter, compared to analyst estimates of $781.55 million. Teledyne Technologies had a net margin of 12.04% and a return on equity of 15.09%. The company’s revenue was up 6.8% on a year-over-year basis. During the same period in the prior year, the firm posted $2.32 EPS. Analysts expect that Teledyne Technologies Incorporated will post 9.98 earnings per share for the current fiscal year.

Several equities research analysts have issued reports on the stock. Needham & Company LLC raised their price target on shares of Teledyne Technologies from $275.00 to $328.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. ValuEngine lowered shares of Teledyne Technologies from a “buy” rating to a “hold” rating in a report on Wednesday. Cowen set a $375.00 price objective on shares of Teledyne Technologies and gave the stock a “buy” rating in a report on Friday, September 27th. Finally, Berenberg Bank started coverage on shares of Teledyne Technologies in a report on Tuesday, June 11th. They set a “buy” rating and a $290.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $312.50.

About Teledyne Technologies

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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Institutional Ownership by Quarter for Teledyne Technologies (NYSE:TDY)

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