Summit Global Investments Invests $728,000 in Teledyne Technologies Incorporated (NYSE:TDY)

Summit Global Investments bought a new position in shares of Teledyne Technologies Incorporated (NYSE:TDY - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,463 shares of the scientific and technical instruments company's stock, valued at approximately $728,000.

A number of other institutional investors have also recently modified their holdings of the business. GAMMA Investing LLC increased its holdings in Teledyne Technologies by 61,911.9% in the first quarter. GAMMA Investing LLC now owns 496,715 shares of the scientific and technical instruments company's stock valued at $247,220,000 after buying an additional 495,914 shares in the last quarter. First Hawaiian Bank grew its stake in Teledyne Technologies by 0.7% in the 1st quarter. First Hawaiian Bank now owns 3,670 shares of the scientific and technical instruments company's stock worth $1,827,000 after acquiring an additional 26 shares during the period. Wellington Management Group LLP grew its stake in Teledyne Technologies by 5.8% in the 4th quarter. Wellington Management Group LLP now owns 7,725 shares of the scientific and technical instruments company's stock worth $3,585,000 after acquiring an additional 424 shares during the period. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Teledyne Technologies by 36.5% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 1,835 shares of the scientific and technical instruments company's stock valued at $852,000 after purchasing an additional 491 shares during the last quarter. Finally, Siemens Fonds Invest GmbH boosted its holdings in shares of Teledyne Technologies by 5.5% in the 4th quarter. Siemens Fonds Invest GmbH now owns 518 shares of the scientific and technical instruments company's stock valued at $241,000 after purchasing an additional 27 shares during the last quarter. 91.58% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Bank of America boosted their price objective on shares of Teledyne Technologies from $550.00 to $600.00 and gave the stock a "buy" rating in a report on Monday, March 17th. TD Securities reaffirmed a "buy" rating and set a $550.00 price objective on shares of Teledyne Technologies in a research report on Thursday, April 24th. Wall Street Zen upgraded shares of Teledyne Technologies from a "hold" rating to a "buy" rating in a research report on Friday, May 9th. Finally, Needham & Company LLC decreased their price objective on shares of Teledyne Technologies from $585.00 to $550.00 and set a "buy" rating for the company in a report on Thursday, April 24th. Seven analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $542.50.

Teledyne Technologies Price Performance

TDY traded up $1.25 during midday trading on Thursday, hitting $499.36. The company had a trading volume of 313,416 shares, compared to its average volume of 264,145. Teledyne Technologies Incorporated has a twelve month low of $380.63 and a twelve month high of $522.50. The firm's 50-day simple moving average is $476.20 and its 200-day simple moving average is $483.34. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.61 and a current ratio of 2.33. The company has a market capitalization of $23.40 billion, a PE ratio of 28.98, a P/E/G ratio of 3.14 and a beta of 1.04.

Teledyne Technologies (NYSE:TDY - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The scientific and technical instruments company reported $4.95 earnings per share for the quarter, beating the consensus estimate of $4.92 by $0.03. Teledyne Technologies had a net margin of 14.45% and a return on equity of 9.94%. The company had revenue of $1.45 billion during the quarter, compared to analysts' expectations of $1.44 billion. During the same quarter in the prior year, the company earned $4.55 earnings per share. The business's quarterly revenue was up 7.4% compared to the same quarter last year. Equities research analysts predict that Teledyne Technologies Incorporated will post 21.55 EPS for the current fiscal year.

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.