Massachusetts Financial Services Co. MA grew its stake in shares of Teledyne Technologies Incorporated (NYSE:TDY - Free Report) by 44.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,760 shares of the scientific and technical instruments company's stock after acquiring an additional 14,111 shares during the period. Massachusetts Financial Services Co. MA owned about 0.10% of Teledyne Technologies worth $22,775,000 at the end of the most recent quarter.
Other hedge funds also recently added to or reduced their stakes in the company. Apollon Wealth Management LLC acquired a new position in shares of Teledyne Technologies in the 1st quarter valued at about $221,000. Signaturefd LLC boosted its holdings in shares of Teledyne Technologies by 16.8% in the 1st quarter. Signaturefd LLC now owns 842 shares of the scientific and technical instruments company's stock valued at $419,000 after buying an additional 121 shares during the period. CWM LLC boosted its stake in Teledyne Technologies by 8.5% during the 1st quarter. CWM LLC now owns 667 shares of the scientific and technical instruments company's stock valued at $332,000 after purchasing an additional 52 shares during the period. Schechter Investment Advisors LLC acquired a new position in Teledyne Technologies during the 1st quarter valued at about $246,000. Finally, Diversify Wealth Management LLC boosted its stake in Teledyne Technologies by 10.2% during the 1st quarter. Diversify Wealth Management LLC now owns 2,980 shares of the scientific and technical instruments company's stock valued at $1,379,000 after purchasing an additional 275 shares during the period. 91.58% of the stock is owned by institutional investors and hedge funds.
Teledyne Technologies Price Performance
Shares of TDY stock traded down $1.34 during midday trading on Monday, reaching $562.32. 331,967 shares of the company were exchanged, compared to its average volume of 277,281. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.44 and a current ratio of 2.19. The company's 50 day moving average price is $504.61 and its two-hundred day moving average price is $491.59. Teledyne Technologies Incorporated has a 12 month low of $392.73 and a 12 month high of $564.85. The company has a market cap of $26.35 billion, a P/E ratio of 32.13, a PEG ratio of 2.65 and a beta of 1.04.
Teledyne Technologies (NYSE:TDY - Get Free Report) last released its earnings results on Wednesday, April 23rd. The scientific and technical instruments company reported $4.95 EPS for the quarter, topping analysts' consensus estimates of $4.92 by $0.03. Teledyne Technologies had a net margin of 14.37% and a return on equity of 9.95%. The business had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.44 billion. During the same period in the previous year, the firm earned $4.55 EPS. The business's revenue for the quarter was up 7.4% on a year-over-year basis. On average, sell-side analysts expect that Teledyne Technologies Incorporated will post 21.55 earnings per share for the current year.
Wall Street Analyst Weigh In
A number of research firms have issued reports on TDY. Needham & Company LLC reduced their target price on shares of Teledyne Technologies from $585.00 to $550.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. TD Securities reissued a "buy" rating and set a $550.00 target price on shares of Teledyne Technologies in a research note on Thursday, April 24th. Morgan Stanley boosted their target price on shares of Teledyne Technologies from $535.00 to $580.00 and gave the company an "equal weight" rating in a research note on Thursday. Stifel Nicolaus began coverage on shares of Teledyne Technologies in a research note on Tuesday, June 24th. They set a "buy" rating and a $626.00 target price for the company. Finally, Wall Street Zen raised shares of Teledyne Technologies from a "hold" rating to a "buy" rating in a research note on Friday, May 9th. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $557.63.
Read Our Latest Research Report on TDY
About Teledyne Technologies
(
Free Report)
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.
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