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Grandfield & Dodd LLC increased its stake in Teledyne Technologies Incorporated by 12.4% in the 3rd quarter, owning 27,783 shares worth $11,352,000. Other institutional investors and hedge funds also made changes to their positions, resulting in a total ownership of 87.57% of the company’s stock by institutional investors. Several brokerages recently issued reports on TDY, giving it a consensus rating of “Buy” and a consensus price target of $517.67.

Shares of Teledyne Technologies stock traded at $435.47. The company has a market cap of $20.55 billion and a price-to-earnings ratio of 26.41. During the 1st and 2nd quarter, top institutional investors and hedge funds like Vanguard Group Inc., BlackRock Inc., T. Rowe Price Investment Management Inc., and Kayne Anderson Rudnick Investment Management LLC grew their stakes in the company, contributing to the growth of Teledyne Technologies.

Teledyne Technologies reported $5.05 EPS for the quarter, with a return on equity of 10.86% and a net margin of 14.02%. It was reported that during the same period in the prior year, the company earned $4.54 EPS. The company is projecting 19.31 EPS for the entire fiscal year.

CEO Robert Mehrabian and Director Michael T. Smith sold shares of Teledyne Technologies stock, with Mehrabian selling 50,000 shares and Smith selling 1,071 shares. Insiders have sold 70,766 shares of company stock worth $29,178,338 in the last three months, with 2.14% of the stock currently owned by insiders.

Teledyne Technologies provides enabling technologies for industrial growth markets in the United States, Canada, and internationally. The company’s offerings include monitoring and control instruments for marine, environmental, industrial, and other applications, electronic test and measurement equipment, and power and communications connectivity devices.

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Read more: Grandfield & Dodd LLC Purchases 3,075 Shares of Teledyne Technologies Incorporated (NYSE:TDY)