Martingale Asset Management L P cut its stake in shares of Teledyne Technologies Incorporated (NYSE:TDY) by 6.7% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 47,605 shares of the scientific and technical instruments company’s stock after selling 3,399 shares during the period. Martingale Asset Management L P owned 0.13% of Teledyne Technologies worth $6,077,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Neuburgh Advisers LLC lifted its position in shares of Teledyne Technologies by 17.7% in the first quarter. Neuburgh Advisers LLC now owns 1,168 shares of the scientific and technical instruments company’s stock valued at $148,000 after buying an additional 176 shares during the last quarter. Envestnet Asset Management Inc. lifted its position in shares of Teledyne Technologies by 2.5% in the first quarter. Envestnet Asset Management Inc. now owns 1,188 shares of the scientific and technical instruments company’s stock valued at $149,000 after buying an additional 29 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Teledyne Technologies by 15.4% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,325 shares of the scientific and technical instruments company’s stock worth $169,000 after purchasing an additional 177 shares during the last quarter. Glen Harbor Capital Management LLC lifted its holdings in Teledyne Technologies by 17.7% during the 1st quarter. Glen Harbor Capital Management LLC now owns 1,606 shares of the scientific and technical instruments company’s stock worth $203,000 after purchasing an additional 242 shares during the last quarter. Finally, HighTower Advisors LLC acquired a new stake in Teledyne Technologies during the 1st quarter worth approximately $219,000. 82.85% of the stock is owned by hedge funds and other institutional investors.
Teledyne Technologies Incorporated (NYSE:TDY) opened at 158.84 on Wednesday. Teledyne Technologies Incorporated has a one year low of $101.90 and a one year high of $159.54. The firm’s 50-day moving average price is $148.14 and its 200 day moving average price is $134.82. The firm has a market capitalization of $5.61 billion, a P/E ratio of 29.28 and a beta of 0.96.
Teledyne Technologies (NYSE:TDY) last announced its quarterly earnings results on Thursday, August 3rd. The scientific and technical instruments company reported $1.74 EPS for the quarter, topping the consensus estimate of $1.25 by $0.49. The business had revenue of $671.10 million for the quarter, compared to analysts’ expectations of $636.18 million. Teledyne Technologies had a net margin of 8.44% and a return on equity of 13.80%. The business’s quarterly revenue was up 24.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.32 EPS. On average, equities analysts anticipate that Teledyne Technologies Incorporated will post $5.69 earnings per share for the current fiscal year.
TDY has been the topic of a number of recent research reports. Zacks Investment Research upgraded Teledyne Technologies from a “hold” rating to a “buy” rating and set a $143.00 price objective on the stock in a research note on Tuesday, May 23rd. BidaskClub upgraded Teledyne Technologies from a “sell” rating to a “hold” rating in a research note on Saturday, July 1st. Needham & Company LLC upgraded Teledyne Technologies from a “hold” rating to a “buy” rating and set a $148.00 price target on the stock in a research note on Wednesday, July 5th. Finally, Jefferies Group LLC reiterated a “hold” rating and issued a $140.00 price target on shares of Teledyne Technologies in a research note on Friday, July 7th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $157.67.
In other Teledyne Technologies news, VP Thomas H. Reslewic bought 5,000 shares of Teledyne Technologies stock in a transaction dated Thursday, June 29th. The shares were purchased at an average cost of $124.50 per share, for a total transaction of $622,500.00. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Jason Vanwees sold 6,000 shares of the business’s stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $147.07, for a total transaction of $882,420.00. Following the completion of the sale, the senior vice president now owns 35,159 shares in the company, valued at $5,170,834.13. The disclosure for this sale can be found here. In the last quarter, insiders sold 14,000 shares of company stock worth $2,060,420. Corporate insiders own 3.30% of the company’s stock.
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Teledyne Technologies Profile
Teledyne Technologies Incorporated provides enabling technologies for industrial growth markets. The Company’s segments include Instrumentation, Digital Imaging, Aerospace and Defense Electronics, and Engineered Systems. Instrumentation segment provides monitoring and control instruments for marine, environmental, industrial and other applications, as well as electronic test and measurement equipment.
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