MetLife Investment Management LLC Cuts Position in Teledyne Technologies Incorporated (NYSE:TDY)

MetLife Investment Management LLC reduced its holdings in shares of Teledyne Technologies Incorporated (NYSE:TDY) by 3.8% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 12,157 shares of the scientific and technical instruments company’s stock after selling 484 shares during the period. MetLife Investment Management LLC’s holdings in Teledyne Technologies were worth $5,321,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in TDY. Kayne Anderson Rudnick Investment Management LLC lifted its holdings in shares of Teledyne Technologies by 17.8% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,238,091 shares of the scientific and technical instruments company’s stock valued at $480,355,000 after acquiring an additional 186,849 shares in the last quarter. Earnest Partners LLC raised its position in Teledyne Technologies by 3.5% in the second quarter. Earnest Partners LLC now owns 398,642 shares of the scientific and technical instruments company’s stock valued at $154,665,000 after purchasing an additional 13,576 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Teledyne Technologies by 9.4% during the second quarter. Dimensional Fund Advisors LP now owns 375,265 shares of the scientific and technical instruments company’s stock worth $145,594,000 after purchasing an additional 32,339 shares in the last quarter. Sei Investments Co. boosted its position in shares of Teledyne Technologies by 4.4% in the second quarter. Sei Investments Co. now owns 367,770 shares of the scientific and technical instruments company’s stock worth $142,689,000 after buying an additional 15,604 shares during the period. Finally, Bank of New York Mellon Corp grew its stake in shares of Teledyne Technologies by 3.3% in the second quarter. Bank of New York Mellon Corp now owns 300,302 shares of the scientific and technical instruments company’s stock valued at $116,511,000 after buying an additional 9,732 shares in the last quarter. Institutional investors and hedge funds own 91.58% of the company’s stock.

Teledyne Technologies Price Performance

TDY stock opened at $485.26 on Friday. The stock’s 50 day moving average is $460.12 and its two-hundred day moving average is $424.90. Teledyne Technologies Incorporated has a 52-week low of $355.41 and a 52-week high of $492.00. The company has a market capitalization of $22.61 billion, a PE ratio of 24.53, a P/E/G ratio of 3.37 and a beta of 1.01. The company has a quick ratio of 1.35, a current ratio of 2.00 and a debt-to-equity ratio of 0.28.

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

Insider Activity

In related news, Chairman Robert Mehrabian sold 3,925 shares of the business’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $490.50, for a total value of $1,925,212.50. Following the completion of the sale, the chairman now directly owns 171,802 shares of the company’s stock, valued at $84,268,881. The trade was a 2.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 2.14% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on TDY. TD Cowen boosted their price target on Teledyne Technologies from $450.00 to $500.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. StockNews.com upgraded shares of Teledyne Technologies from a “hold” rating to a “buy” rating in a research note on Wednesday, October 2nd. Bank of America upgraded shares of Teledyne Technologies from a “neutral” rating to a “buy” rating and upped their target price for the company from $450.00 to $550.00 in a research note on Friday, November 8th. Finally, Needham & Company LLC lifted their price target on shares of Teledyne Technologies from $528.00 to $550.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $517.50.

About Teledyne Technologies

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.