In the second quarter of this year, BTC Capital Management Inc. reduced its stake in Teledyne Technologies Incorporated (NYSE:TDY) by 3.9%. According to the company’s latest disclosure with the Securities and Exchange Commission, BTC Capital Management Inc. now holds 9,810 shares of the scientific and technical instruments company’s stock, after selling 394 shares during the period. At the end of the most recent reporting period, these holdings were valued at $4,025,000.
In other related news, Director Jane Cecile Sherburne recently sold 2,000 shares of Teledyne Technologies’ stock on Tuesday, September 12th. The shares were sold at an average price of $406.77 per share, resulting in a total transaction value of $813,540.00. Following this transaction, Sherburne currently holds 5,501 shares in the company with a value of $2,237,641.77.
Additionally, CEO Robert Mehrabian also sold 45,500 shares of the business’s stock on Tuesday August 29th at an average price of $416.13 per share. The total value of this sale amounted to $18,933,915.00. Mehrabian now directly owns 196,052 shares in Teledyne Technologies which are worth approximately $81,583,118.76.
These transactions were disclosed in documents filed with the Securities & Exchange Commission and can be accessed through their website.
It is worth noting that another sale involving Director Jane Cecile Sherburne occurred on Tuesday September 12th whereby she sold an additional 2,000 shares at an average price of $406.77 per share for a total value of $813.,5400.00.This brings her total holdings to 5,,501shares with a value of $2,.237,,641;77
Overall within the last three months, insiders of Teledyne Technologies have sold a total of 61,646 shares valued at $25,717,295. It is also important to mention that company insiders own 2.14% of the company’s stock.
Please note that this information is accurate as of September 18, 2023.
International Paper Company
IP
Buy
Updated on: 30/09/2023
Financial Health
Healthy
Debt to equity ratio: Buy
Price to earnings ratio: Strong Sell
Price to book ratio: Strong Buy
DCF: Strong Buy
ROE: Neutral
Teledyne Technologies: Institutional Investors and Analysts Show Confidence in Potential for Growth and Success
Teledyne Technologies, a scientific and technical instruments company, has recently seen an increase in attention from several institutional investors. These investors have either added to or reduced their stakes in the company, leading to an influx of activity within the financial market. Toronto Dominion Bank, for instance, has lifted its position in Teledyne Technologies by 4.1% during the first quarter.
Toronto Dominion Bank now owns approximately 24,770 shares of Teledyne Technologies’ stock worth $11,075,000 after purchasing an additional 968 shares during the last quarter. Similarly, Nisa Investment Advisors LLC and Barclays PLC have also grown their positions in Teledyne Technologies by 4.5% and 3.6%, respectively.
Charles Schwab Investment Management Inc., on the other hand, increased its holdings in Teledyne Technologies by 1.4%. This growth signifies a significant interest from institutional investors in the company’s potential for future growth and success.
Pictet Asset Management SA joined this group as well by lifting its stake in Teledyne Technologies by 5.3% during the first quarter. The ownership of these shares indicates confidence among institutions that Teledyne Technologies is poised for further success with its scientific and technical instruments.
It is interesting to note that approximately 87.57% of the stock of Teledyne Technologies is owned by institutional investors and hedge funds combined. This level of ownership suggests a high degree of trust and belief in the company’s ability to deliver returns on investments.
In terms of research reports, TDY has been subjected to scrutiny from various analysts regarding its performance and potential value. For example, Bank of America increased their target price for shares of Teledyne Technologies from $533.00 to $565.00 back in May 2023.
The Goldman Sachs Group also raised their target price for the stock from $423.00 to $495.00 while upgrading its rating from “neutral” to “buy” in August of the same year. On the other hand, Needham & Company LLC lowered their price target on Teledyne Technologies from $470.00 to $455.00 but maintained a “buy” rating on the stock.
Notably, StockNews.com downgraded Teledyne Technologies from a “buy” rating to a “hold” rating in September 2023. Overall, analysts have issued mixed recommendations for Teledyne Technologies, with two suggesting a hold rating and three offering buy ratings for the company’s stock.
As of September 18th, 2023, shares of NYSE TDY were trading at $416.11 during midday trading. This marked an increase of $1.07 compared to its average volume of 237,669 shares. Despite this recent activity, Teledyne Technologies has experienced fluctuations in its stock value over the past twelve months, ranging between a low of $325.00 and a high of $448.71.
Teledyne Technologies currently boasts a market capitalization of $19.59 billion with a P/E ratio standing at 25.81 and a PEG ratio of 3.42. The company has demonstrated stability with a current ratio of 1.62 and quick ratio of 1.02 while maintaining a debt-to-equity ratio of 0.34.
In its most recent quarterly earnings report released on July 26th, 2023, Teledyne Technologies reported an EPS (earnings per share) of $4.67 for the quarter – surpassing the consensus estimate by $0.04.
Moreover, the company’s revenue for the quarter reached approximately $1.42 billion compared to analysts’ predictions of around $1.41 billion – signifying growth in comparison to the same quarter last year with an increase in revenue by approximately 5%.
With these notable achievements, equities research analysts expect that Teledyne Technologies Incorporated will post an EPS of 19.12 for the current year. This forecast provides further insight into the optimism surrounding the future performance and potential of Teledyne Technologies within the scientific and technical instruments industry.
In conclusion, Teledyne Technologies has garnered the attention of several institutional investors who have either increased or reduced their stakes in the company. Furthermore, analysts have expressed varying viewpoints regarding its performance and value in the market. As Teledyne Technologies continues to navigate the industry, its quarterly earnings report reveals a positive outlook for shareholders and reinforces the institution’s belief in its potential for success in the coming years.
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