Teledyne Technologies Incorporated (NYSE:TDY) Stake Raised by Convergence Investment Partners LLC

Convergence Investment Partners LLC increased its position in shares of Teledyne Technologies Incorporated (NYSE:TDY) by 36.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,427 shares of the scientific and technical instruments company’s stock after purchasing an additional 644 shares during the period. Convergence Investment Partners LLC’s holdings in Teledyne Technologies were worth $755,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Commerce Bank grew its position in Teledyne Technologies by 3.6% during the 1st quarter. Commerce Bank now owns 969 shares of the scientific and technical instruments company’s stock worth $288,000 after purchasing an additional 34 shares in the last quarter. Cornerstone Advisors Inc. grew its position in Teledyne Technologies by 40.0% during the 1st quarter. Cornerstone Advisors Inc. now owns 126 shares of the scientific and technical instruments company’s stock worth $37,000 after purchasing an additional 36 shares in the last quarter. MML Investors Services LLC grew its position in Teledyne Technologies by 2.6% during the 1st quarter. MML Investors Services LLC now owns 1,528 shares of the scientific and technical instruments company’s stock worth $454,000 after purchasing an additional 38 shares in the last quarter. Squar Milner Financial Services LLC grew its position in Teledyne Technologies by 18.9% during the 1st quarter. Squar Milner Financial Services LLC now owns 302 shares of the scientific and technical instruments company’s stock worth $89,000 after purchasing an additional 48 shares in the last quarter. Finally, Advisory Alpha LLC grew its position in Teledyne Technologies by 12.0% during the 1st quarter. Advisory Alpha LLC now owns 447 shares of the scientific and technical instruments company’s stock worth $141,000 after purchasing an additional 48 shares in the last quarter. 86.19% of the stock is currently owned by hedge funds and other institutional investors.

Teledyne Technologies stock traded up $2.58 on Friday, reaching $306.70. 162,728 shares of the stock were exchanged, compared to its average volume of 247,623. The stock has a market cap of $11.24 billion, a PE ratio of 29.35 and a beta of 1.03. The company has a current ratio of 1.97, a quick ratio of 1.45 and a debt-to-equity ratio of 0.30. Teledyne Technologies Incorporated has a twelve month low of $195.34 and a twelve month high of $398.99. The firm has a fifty day moving average price of $314.01 and a two-hundred day moving average price of $331.68.

Teledyne Technologies (NYSE:TDY) last released its earnings results on Wednesday, July 22nd. The scientific and technical instruments company reported $2.48 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.99 by $0.49. The firm had revenue of $743.30 million during the quarter, compared to analyst estimates of $743.70 million. Teledyne Technologies had a net margin of 12.59% and a return on equity of 14.45%. During the same quarter in the previous year, the business earned $2.80 EPS. Equities analysts anticipate that Teledyne Technologies Incorporated will post 9.81 EPS for the current fiscal year.

TDY has been the topic of several research analyst reports. Needham & Company LLC boosted their price target on shares of Teledyne Technologies from $345.00 to $365.00 and gave the company a “buy” rating in a report on Thursday, July 23rd. Jefferies Financial Group upgraded shares of Teledyne Technologies from a “hold” rating to a “buy” rating and boosted their price target for the company from $310.00 to $360.00 in a report on Wednesday, July 15th. Finally, Zacks Investment Research cut shares of Teledyne Technologies from a “hold” rating to a “sell” rating and set a $359.00 price target on the stock. in a report on Tuesday, May 26th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $374.75.

In other Teledyne Technologies news, VP Cynthia Y. Belak sold 8,000 shares of the company’s stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $330.18, for a total transaction of $2,641,440.00. Following the sale, the vice president now directly owns 11,482 shares of the company’s stock, valued at $3,791,126.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Roxanne S. Austin sold 1,266 shares of the company’s stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $383.47, for a total transaction of $485,473.02. The disclosure for this sale can be found here. In the last three months, insiders sold 36,316 shares of company stock worth $12,240,352. 3.15% of the stock is currently owned by insiders.

About Teledyne Technologies

Teledyne Technologies Incorporated provides instrumentation, digital imaging, aerospace and defense electronics, and engineered systems in the United States, the United Kingdom, Denmark, Canada, France, and the Netherlands. The company's Instrumentation segment offers monitoring and control instruments for marine, environmental, industrial, and other applications, as well as electronic test and measurement equipment; and power and communications connectivity devices for distributed instrumentation systems and sensor networks deployed in mission critical and harsh environments.

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Institutional Ownership by Quarter for Teledyne Technologies (NYSE:TDY)

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