Earnest Partners LLC increased its holdings in shares of Teledyne Technologies Incorporated (NYSE:TDY) by 1.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 630,042 shares of the scientific and technical instruments company’s stock after purchasing an additional 8,144 shares during the quarter. Earnest Partners LLC owned approximately 1.78% of Teledyne Technologies worth $80,425,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in the stock. Envestnet Asset Management Inc. grew its holdings in Teledyne Technologies by 2.5% during the 1st 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 in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew 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 valued at $169,000 after buying an additional 177 shares in the last quarter. ETF Managers Group LLC purchased a new position in Teledyne Technologies during the 2nd quarter valued at approximately $181,000. HighTower Advisors LLC purchased a new position in Teledyne Technologies during the 1st quarter valued at approximately $219,000. Finally, Trexquant Investment LP purchased a new position in Teledyne Technologies during the 2nd quarter valued at approximately $230,000. Hedge funds and other institutional investors own 82.85% of the company’s stock.
Several research firms have weighed in on TDY. Needham & Company LLC restated a “buy” rating and set a $157.00 price target (up previously from $148.00) on shares of Teledyne Technologies in a report on Wednesday, August 9th. Zacks Investment Research cut Teledyne Technologies from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 4th. Jefferies Group LLC restated a “hold” rating and set a $150.00 price target (up previously from $145.00) on shares of Teledyne Technologies in a report on Wednesday, August 9th. ValuEngine lowered Teledyne Technologies from a “buy” rating to a “hold” rating in a research note on Monday, October 2nd. Finally, BidaskClub raised Teledyne Technologies from a “hold” rating to a “buy” rating in a research note on Tuesday, August 8th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $157.67.
In related news, SVP Jason Vanwees sold 6,000 shares of the stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $147.07, for a total value of $882,420.00. Following the completion of the transaction, the senior vice president now directly owns 35,159 shares in the company, valued at $5,170,834.13. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Roxanne S. Austin sold 4,000 shares of the stock in a transaction that occurred on Wednesday, August 30th. The stock was sold at an average price of $148.30, for a total value of $593,200.00. Following the completion of the transaction, the director now owns 11,458 shares of the company’s stock, valued at $1,699,221.40. The disclosure for this sale can be found here. Insiders sold 14,000 shares of company stock valued at $2,060,420 over the last 90 days. Company insiders own 3.30% of the company’s stock.
Teledyne Technologies Incorporated (TDY) traded down 0.31% during midday trading on Monday, hitting $162.47. The stock had a trading volume of 21,190 shares. The firm has a 50-day moving average of $157.18 and a 200-day moving average of $139.18. Teledyne Technologies Incorporated has a 12-month low of $102.78 and a 12-month high of $165.87. The company has a market cap of $5.74 billion, a PE ratio of 29.95 and a beta of 0.98.
Teledyne Technologies (NYSE:TDY) last posted its quarterly earnings results on Thursday, August 3rd. The scientific and technical instruments company reported $1.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.25 by $0.49. The business had revenue of $671.10 million during the quarter, compared to analyst estimates of $636.18 million. Teledyne Technologies had a return on equity of 13.80% and a net margin of 8.44%. The business’s revenue was up 24.3% compared to the same quarter last year. During the same period in the prior year, the business earned $1.32 earnings per share. Equities research analysts forecast that Teledyne Technologies Incorporated will post $5.69 EPS for the current year.
Teledyne Technologies Company 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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