Teledyne Technologies Incorporated (NYSE:TDY) Shares Purchased by Fifth Third Bancorp

Fifth Third Bancorp boosted its holdings in Teledyne Technologies Incorporated (NYSE:TDY) by 3.5% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 8,215 shares of the scientific and technical instruments company’s stock after buying an additional 277 shares during the period. Fifth Third Bancorp’s holdings in Teledyne Technologies were worth $3,187,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in TDY. International Assets Investment Management LLC boosted its stake in Teledyne Technologies by 37,167.5% in the 4th quarter. International Assets Investment Management LLC now owns 72,299 shares of the scientific and technical instruments company’s stock worth $32,266,000 after buying an additional 72,105 shares during the last quarter. Cerity Partners LLC acquired a new position in shares of Teledyne Technologies in the 4th quarter valued at about $834,000. Tennessee Valley Asset Management Partners acquired a new position in shares of Teledyne Technologies in the 4th quarter valued at about $90,000. abrdn plc lifted its stake in shares of Teledyne Technologies by 70.0% in the 4th quarter. abrdn plc now owns 19,570 shares of the scientific and technical instruments company’s stock valued at $8,734,000 after purchasing an additional 8,058 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in shares of Teledyne Technologies by 13.8% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 4,713 shares of the scientific and technical instruments company’s stock valued at $2,103,000 after purchasing an additional 573 shares in the last quarter. 91.58% of the stock is owned by institutional investors and hedge funds.

Teledyne Technologies Stock Up 0.8 %

Shares of NYSE:TDY traded up $3.28 during mid-day trading on Wednesday, hitting $418.73. 227,612 shares of the company traded hands, compared to its average volume of 248,253. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.28 and a current ratio of 1.98. Teledyne Technologies Incorporated has a 52-week low of $355.41 and a 52-week high of $448.19. The firm’s 50 day simple moving average is $399.66 and its 200 day simple moving average is $406.54. The firm has a market cap of $19.59 billion, a P/E ratio of 22.73, a PEG ratio of 2.93 and a beta of 1.00.

Teledyne Technologies (NYSE:TDY) last posted its quarterly earnings data on Wednesday, July 24th. The scientific and technical instruments company reported $4.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.49 by $0.09. Teledyne Technologies had a return on equity of 10.27% and a net margin of 15.86%. The company had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.36 billion. During the same period in the previous year, the business earned $4.67 EPS. Teledyne Technologies’s revenue for the quarter was down 3.8% compared to the same quarter last year. On average, equities analysts anticipate that Teledyne Technologies Incorporated will post 19.4 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. TD Cowen reduced their price objective on Teledyne Technologies from $475.00 to $450.00 and set a “buy” rating on the stock in a research note on Thursday, April 25th. Vertical Research initiated coverage on Teledyne Technologies in a research note on Tuesday, July 23rd. They issued a “buy” rating and a $470.00 price objective on the stock. Needham & Company LLC raised 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. Bank of America downgraded Teledyne Technologies from a “buy” rating to a “neutral” rating and dropped their target price for the company from $490.00 to $400.00 in a report on Friday, April 26th. Finally, StockNews.com downgraded Teledyne Technologies from a “buy” rating to a “hold” rating in a report on Sunday, August 11th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Teledyne Technologies has a consensus 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.