Blue Trust Inc. Grows Stock Position in Teledyne Technologies Incorporated (NYSE:TDY)

Blue Trust Inc. lifted its stake in shares of Teledyne Technologies Incorporated (NYSE:TDY) by 38.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,063 shares of the scientific and technical instruments company’s stock after purchasing an additional 293 shares during the quarter. Blue Trust Inc.’s holdings in Teledyne Technologies were worth $456,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. Portside Wealth Group LLC raised its position in Teledyne Technologies by 12.0% in the second quarter. Portside Wealth Group LLC now owns 2,451 shares of the scientific and technical instruments company’s stock worth $951,000 after acquiring an additional 262 shares in the last quarter. Assenagon Asset Management S.A. raised its position in Teledyne Technologies by 235.6% in the second quarter. Assenagon Asset Management S.A. now owns 125,245 shares of the scientific and technical instruments company’s stock worth $48,593,000 after acquiring an additional 87,925 shares in the last quarter. Envestnet Portfolio Solutions Inc. raised its position in Teledyne Technologies by 2.9% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 13,158 shares of the scientific and technical instruments company’s stock worth $5,105,000 after acquiring an additional 377 shares in the last quarter. V Square Quantitative Management LLC raised its position in Teledyne Technologies by 14.7% in the second quarter. V Square Quantitative Management LLC now owns 555 shares of the scientific and technical instruments company’s stock worth $215,000 after acquiring an additional 71 shares in the last quarter. Finally, Sequoia Financial Advisors LLC raised its position in Teledyne Technologies by 6.2% in the second quarter. Sequoia Financial Advisors LLC now owns 838 shares of the scientific and technical instruments company’s stock worth $325,000 after acquiring an additional 49 shares in the last quarter. Hedge funds and other institutional investors own 91.58% of the company’s stock.

Teledyne Technologies Price Performance

Shares of TDY traded up $3.22 during trading hours on Friday, reaching $416.58. 144,169 shares of the company traded hands, compared to its average volume of 287,127. The company has a quick ratio of 1.28, a current ratio of 1.98 and a debt-to-equity ratio of 0.28. The stock has a market capitalization of $19.49 billion, a PE ratio of 22.53, a price-to-earnings-growth ratio of 2.87 and a beta of 1.00. Teledyne Technologies Incorporated has a fifty-two week low of $355.41 and a fifty-two week high of $448.19. The stock has a fifty day simple moving average of $398.51 and a 200 day simple moving average of $406.95.

Teledyne Technologies (NYSE:TDY) last posted its quarterly earnings data on Wednesday, July 24th. The scientific and technical instruments company reported $4.58 EPS for the quarter, beating analysts’ consensus estimates of $4.49 by $0.09. The business had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.36 billion. Teledyne Technologies had a return on equity of 10.27% and a net margin of 15.86%. The business’s revenue for the quarter was down 3.8% compared to the same quarter last year. During the same quarter last year, the company earned $4.67 earnings per share. As a group, research analysts predict that Teledyne Technologies Incorporated will post 19.37 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Bank of America cut Teledyne Technologies from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $490.00 to $400.00 in a research report on Friday, April 26th. Needham & Company LLC upped their target price on Teledyne Technologies from $455.00 to $482.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Vertical Research initiated coverage on Teledyne Technologies in a report on Tuesday, July 23rd. They issued a “buy” rating and a $470.00 target price on the stock. TD Cowen lowered their target price on Teledyne Technologies from $475.00 to $450.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. Finally, StockNews.com lowered Teledyne Technologies from a “buy” rating to a “hold” rating in a report on Sunday, August 11th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $471.17.

Teledyne Technologies 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.