Two Sigma Investments LP Lowers Stake in Teledyne Technologies Incorporated (NYSE:TDY)

Two Sigma Investments LP decreased its stake in shares of Teledyne Technologies Incorporated (NYSE:TDY - Free Report) by 82.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 622 shares of the scientific and technical instruments company's stock after selling 2,918 shares during the quarter. Two Sigma Investments LP's holdings in Teledyne Technologies were worth $289,000 as of its most recent filing with the SEC.

Several other large investors have also recently added to or reduced their stakes in TDY. LPL Financial LLC raised its position in Teledyne Technologies by 8.5% in the 4th 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 last quarter. Amundi increased its position in shares of Teledyne Technologies by 11.9% during the fourth quarter. Amundi now owns 124,874 shares of the scientific and technical instruments company's stock worth $57,687,000 after acquiring an additional 13,244 shares in the last quarter. ING Groep NV grew its holdings in shares of Teledyne Technologies by 144.9% during the fourth quarter. ING Groep NV now owns 5,952 shares of the scientific and technical instruments company's stock worth $2,763,000 after buying an additional 3,522 shares in the last quarter. Grandfield & Dodd LLC increased its position in shares of Teledyne Technologies by 11.7% during the 4th quarter. Grandfield & Dodd LLC now owns 39,316 shares of the scientific and technical instruments company's stock worth $18,248,000 after purchasing an additional 4,125 shares during the last quarter. Finally, Principal Financial Group Inc. grew its position in shares of Teledyne Technologies by 15.2% in the 4th quarter. Principal Financial Group Inc. now owns 64,350 shares of the scientific and technical instruments company's stock valued at $29,867,000 after acquiring an additional 8,501 shares during the period. Institutional investors and hedge funds own 91.58% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on TDY shares. Wall Street Zen raised Teledyne Technologies from a "hold" rating to a "buy" rating in a report on Friday, May 9th. TD Securities reissued a "buy" rating and issued a $550.00 price objective on shares of Teledyne Technologies in a research note on Thursday, April 24th. Bank of America lifted their target price on Teledyne Technologies from $550.00 to $600.00 and gave the company a "buy" rating in a research report on Monday, March 17th. Finally, Needham & Company LLC cut their target price on Teledyne Technologies from $585.00 to $550.00 and set a "buy" rating on the stock in a research note on Thursday, April 24th. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Teledyne Technologies has an average rating of "Buy" and an average target price of $542.50.

Teledyne Technologies Price Performance

Teledyne Technologies stock traded down $3.27 during midday trading on Thursday, hitting $494.97. 392,053 shares of the company's stock were exchanged, compared to its average volume of 266,783. Teledyne Technologies Incorporated has a 52-week low of $380.63 and a 52-week high of $522.50. 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 cap of $23.19 billion, a P/E ratio of 28.73, a PEG ratio of 3.14 and a beta of 1.04. The stock has a 50-day moving average price of $478.16 and a two-hundred day moving average price of $484.07.

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 analysts' consensus estimates of $4.92 by $0.03. Teledyne Technologies had a return on equity of 9.94% and a net margin of 14.45%. The business had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.44 billion. During the same quarter last year, the business posted $4.55 earnings per share. The company's revenue for the quarter was up 7.4% on a year-over-year basis. On average, equities research analysts forecast that Teledyne Technologies Incorporated will post 21.55 earnings per share for the current 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.