Teledyne Technologies Incorporated (NYSE:TDY) Shares Purchased by Dimensional Fund Advisors LP

by anlene
May 21, 2023

Dimensional Fund Advisors LP boosted its position in Teledyne Technologies Incorporated (NYSE:TDY – Get Rating) by 2.0% in the 4th quarter, HoldingsChannel reports. The firm owned 284,173 shares of the scientific and technical instruments company’s stock after purchasing an additional 5,444 shares during the period. Dimensional Fund Advisors LP’s holdings in Teledyne Technologies were worth $113,637,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the company. Accurate Wealth Management LLC acquired a new position in shares of Teledyne Technologies during the 4th quarter valued at about $28,000. Belpointe Asset Management LLC purchased a new position in Teledyne Technologies in the 4th quarter worth approximately $36,000. FourThought Financial LLC boosted its holdings in Teledyne Technologies by 53.8% in the 3rd quarter. FourThought Financial LLC now owns 140 shares of the scientific and technical instruments company’s stock worth $47,000 after acquiring an additional 49 shares during the period. Standard Family Office LLC purchased a new position in Teledyne Technologies in the 3rd quarter worth approximately $49,000. Finally, Capital Directions Investment Advisors LLC purchased a new position in Teledyne Technologies in the 4th quarter worth approximately $63,000. Institutional investors and hedge funds own 91.10% of the company’s stock.

Insider Activity

In other news, CEO Robert Mehrabian sold 3,400 shares of the firm’s stock in a transaction on Monday, March 6th. The stock was sold at an average price of $440.17, for a total transaction of $1,496,578.00. Following the transaction, the chief executive officer now directly owns 196,052 shares of the company’s stock, valued at $86,296,208.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Robert Mehrabian sold 3,400 shares of the firm’s stock in a transaction on Monday, March 6th. The stock was sold at an average price of $440.17, for a total transaction of $1,496,578.00. Following the transaction, the chief executive officer now directly owns 196,052 shares of the company’s stock, valued at $86,296,208.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Melanie Susan Cibik sold 2,000 shares of the firm’s stock in a transaction on Monday, May 15th. The shares were sold at an average price of $413.00, for a total value of $826,000.00. Following the transaction, the vice president now directly owns 27,305 shares in the company, valued at $11,276,965. The disclosure for this sale can be found here. Corporate insiders own 2.14% of the company’s stock.

Analyst Ratings Changes

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A number of research firms have weighed in on TDY. StockNews.com cut Teledyne Technologies from a “buy” rating to a “hold” rating in a report on Friday, May 12th. Credit Suisse Group decreased their price target on Teledyne Technologies from $503.00 to $499.00 in a report on Friday, April 28th. Finally, Needham & Company LLC decreased their price target on Teledyne Technologies from $498.00 to $470.00 in a report on Thursday, April 27th. Two analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, Teledyne Technologies currently has an average rating of “Moderate Buy” and a consensus price target of $485.67.

Teledyne Technologies Price Performance

Shares of NYSE TDY opened at $416.26 on Friday. Teledyne Technologies Incorporated has a 1-year low of $325.00 and a 1-year high of $448.71. 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 business’s fifty day moving average price is $422.76 and its two-hundred day moving average price is $418.60. The firm has a market capitalization of $19.59 billion, a PE ratio of 26.35, a P/E/G ratio of 3.22 and a beta of 1.08.

Teledyne Technologies (NYSE:TDY – Get Rating) last issued its earnings results on Wednesday, April 26th. The scientific and technical instruments company reported $4.53 earnings per share for the quarter, topping the consensus estimate of $4.43 by $0.10. Teledyne Technologies has a return on equity of 10.98% and a net margin of 13.67%. The firm had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.37 billion. During the same period last year, the company earned $4.27 earnings per share. The firm’s revenue for the quarter was up 4.7% on a year-over-year basis. On average, research analysts expect that Teledyne Technologies Incorporated will post 19.13 EPS for the current year.

Teledyne Technologies Profile

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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.