Covea Finance Has $9.93 Million Holdings in Teledyne Technologies Incorporated (NYSE:TDY)

Covea Finance boosted its position in shares of Teledyne Technologies Incorporated (NYSE:TDY) by 25.1% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 21,400 shares of the scientific and technical instruments company’s stock after buying an additional 4,300 shares during the period. Covea Finance’s holdings in Teledyne Technologies were worth $9,932,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Acadian Asset Management LLC bought a new position in Teledyne Technologies in the second quarter valued at approximately $373,000. Choreo LLC acquired a new position in shares of Teledyne Technologies during the 2nd quarter worth $241,000. American Century Companies Inc. lifted its position in shares of Teledyne Technologies by 7.3% during the 2nd quarter. American Century Companies Inc. now owns 2,929 shares of the scientific and technical instruments company’s stock worth $1,136,000 after buying an additional 199 shares during the last quarter. Oppenheimer Asset Management Inc. boosted its stake in Teledyne Technologies by 13.2% in the second quarter. Oppenheimer Asset Management Inc. now owns 4,336 shares of the scientific and technical instruments company’s stock valued at $1,682,000 after buying an additional 506 shares in the last quarter. Finally, Envestnet Asset Management Inc. grew its position in Teledyne Technologies by 8.8% in the second quarter. Envestnet Asset Management Inc. now owns 181,501 shares of the scientific and technical instruments company’s stock valued at $70,419,000 after acquiring an additional 14,695 shares during the last quarter. 91.58% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on TDY shares. UBS Group assumed coverage on shares of Teledyne Technologies in a report on Tuesday, December 10th. They issued a “buy” rating and a $585.00 target price for the company. Needham & Company LLC increased their price objective on shares of Teledyne Technologies from $528.00 to $550.00 and gave the company a “buy” rating in a research note on Monday, November 11th. TD Cowen boosted their target price on shares of Teledyne Technologies from $450.00 to $500.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Bank of America upgraded Teledyne Technologies from a “neutral” rating to a “buy” rating and increased their price target for the company from $450.00 to $550.00 in a research note on Friday, November 8th. Finally, StockNews.com raised Teledyne Technologies from a “hold” rating to a “buy” rating in a research note on Wednesday, October 2nd. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Teledyne Technologies presently has an average rating of “Buy” and a consensus target price of $531.00.

Teledyne Technologies Stock Up 1.1 %

Shares of TDY opened at $465.87 on Wednesday. The stock’s 50-day moving average price is $472.65 and its two-hundred day moving average price is $441.88. Teledyne Technologies Incorporated has a 12 month low of $355.41 and a 12 month high of $492.00. The company has a market capitalization of $21.71 billion, a PE ratio of 23.55, a PEG ratio of 3.30 and a beta of 1.01. The company has a current ratio of 2.00, a quick ratio of 1.35 and a debt-to-equity ratio of 0.28.

Teledyne Technologies (NYSE:TDY) last posted its quarterly earnings data on Wednesday, October 23rd. The scientific and technical instruments company reported $5.10 EPS for the quarter, topping analysts’ consensus estimates of $4.97 by $0.13. The company had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.42 billion. Teledyne Technologies had a return on equity of 10.02% and a net margin of 16.88%. The firm’s quarterly revenue was up 2.9% on a year-over-year basis. During the same period in the previous year, the firm earned $5.05 earnings per share. On average, analysts anticipate that Teledyne Technologies Incorporated will post 19.45 EPS for the current year.

Insider Activity

In related news, Chairman Robert Mehrabian sold 46,075 shares of the business’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $487.33, for a total value of $22,453,729.75. Following the transaction, the chairman now owns 171,802 shares in the company, valued at $83,724,268.66. The trade was a 21.15 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Vice Chairman Jason Vanwees sold 1,500 shares of the company’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $488.71, for a total transaction of $733,065.00. Following the sale, the insider now directly owns 2,900 shares in the company, valued at $1,417,259. This trade represents a 34.09 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 53,525 shares of company stock valued at $26,080,464. 1.88% of the stock is currently owned by insiders.

Teledyne Technologies Company Profile

Teledyne Technologies Incorporated, together with its subsidiaries, provides enabling technologies for industrial growth markets in the United States and internationally. Its Digital Imaging segment provides visible spectrum sensors and digital cameras; and infrared, ultraviolet, visible, and X-ray spectra; as well as micro electromechanical systems and semiconductors, including analog-to-digital and digital-to-analog converters.