Bank Julius Baer & Co. Ltd Zurich Takes Position in Teledyne Technologies Incorporated (NYSE:TDY)

Bank Julius Baer & Co. Ltd Zurich acquired a new stake in Teledyne Technologies Incorporated (NYSE:TDY - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 8,517 shares of the scientific and technical instruments company's stock, valued at approximately $4,273,000.

Other hedge funds also recently bought and sold shares of the company. LPL Financial LLC raised its holdings in Teledyne Technologies by 8.5% in the fourth quarter. LPL Financial LLC now owns 28,366 shares of the scientific and technical instruments company's stock worth $13,166,000 after purchasing an additional 2,224 shares during the period. OneDigital Investment Advisors LLC acquired a new stake in Teledyne Technologies in the first quarter worth $247,000. Asset Management One Co. Ltd. raised its holdings in shares of Teledyne Technologies by 4.7% during the first quarter. Asset Management One Co. Ltd. now owns 38,298 shares of the scientific and technical instruments company's stock worth $19,061,000 after acquiring an additional 1,712 shares during the period. IFM Investors Pty Ltd raised its holdings in shares of Teledyne Technologies by 8.3% during the first quarter. IFM Investors Pty Ltd now owns 8,913 shares of the scientific and technical instruments company's stock worth $4,436,000 after acquiring an additional 681 shares during the period. Finally, SG Americas Securities LLC acquired a new stake in shares of Teledyne Technologies during the first quarter worth $6,725,000. 91.58% of the stock is currently owned by institutional investors and hedge funds.

Teledyne Technologies Stock Performance

Teledyne Technologies stock traded up $6.07 during midday trading on Friday, hitting $556.00. The company's stock had a trading volume of 552,984 shares, compared to its average volume of 438,381. Teledyne Technologies Incorporated has a 1-year low of $397.78 and a 1-year high of $570.56. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.66 and a quick ratio of 1.44. The company has a 50-day moving average price of $510.59 and a two-hundred day moving average price of $494.43. The company has a market cap of $26.05 billion, a price-to-earnings ratio of 30.62, a PEG ratio of 2.59 and a beta of 1.04.

Teledyne Technologies (NYSE:TDY - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The scientific and technical instruments company reported $5.20 earnings per share for the quarter, topping the consensus estimate of $5.05 by $0.15. The business had revenue of $1.51 billion during the quarter, compared to analysts' expectations of $1.47 billion. Teledyne Technologies had a net margin of 14.54% and a return on equity of 9.96%. The business's revenue was up 10.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $4.58 EPS. As a group, sell-side analysts predict that Teledyne Technologies Incorporated will post 21.55 earnings per share for the current year.

Teledyne Technologies declared that its board has initiated a share buyback program on Wednesday, July 23rd that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the scientific and technical instruments company to repurchase up to 7.7% of its stock through open market purchases. Stock buyback programs are often an indication that the company's board of directors believes its shares are undervalued.

Analysts Set New Price Targets

A number of brokerages recently commented on TDY. Needham & Company LLC dropped their price objective on shares of Teledyne Technologies from $585.00 to $550.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. TD Securities reaffirmed a "buy" rating and issued a $550.00 target price on shares of Teledyne Technologies in a research report on Thursday, April 24th. UBS Group lifted their price objective on shares of Teledyne Technologies from $585.00 to $630.00 and gave the company a "buy" rating in a research report on Thursday. Stifel Nicolaus began coverage on shares of Teledyne Technologies in a research report on Tuesday, June 24th. They issued a "buy" rating and a $626.00 price objective for the company. Finally, Morgan Stanley lifted their price objective on shares of Teledyne Technologies from $535.00 to $580.00 and gave the company an "equal weight" rating in a research report on Thursday, July 17th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $576.57.

Teledyne Technologies Company Profile

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.