Congress Asset Management Co. MA Boosts Stock Holdings in Teledyne Technologies Incorporated (NYSE:TDY)

Congress Asset Management Co. MA grew its position in shares of Teledyne Technologies Incorporated (NYSE:TDY) by 0.3% during the fourth quarter, Holdings Channel.com reports. The fund owned 274,520 shares of the scientific and technical instruments company’s stock after purchasing an additional 940 shares during the quarter. Congress Asset Management Co. MA’s holdings in Teledyne Technologies were worth $122,516,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Creekmur Asset Management LLC purchased a new position in Teledyne Technologies during the 4th quarter worth $45,000. Goldman Sachs Group Inc. boosted its holdings in Teledyne Technologies by 35.1% during the 4th quarter. Goldman Sachs Group Inc. now owns 132,361 shares of the scientific and technical instruments company’s stock worth $59,071,000 after acquiring an additional 34,371 shares during the last quarter. Public Sector Pension Investment Board boosted its holdings in Teledyne Technologies by 1,755.0% during the 4th quarter. Public Sector Pension Investment Board now owns 93,325 shares of the scientific and technical instruments company’s stock worth $41,650,000 after acquiring an additional 88,294 shares during the last quarter. Chilton Investment Co. Inc. boosted its holdings in Teledyne Technologies by 28.9% during the 4th quarter. Chilton Investment Co. Inc. now owns 8,716 shares of the scientific and technical instruments company’s stock worth $3,890,000 after acquiring an additional 1,956 shares during the last quarter. Finally, Advanced Portfolio Management LLC purchased a new position in shares of Teledyne Technologies in the 4th quarter worth about $503,000. 91.58% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on TDY. Bank of America downgraded shares of Teledyne Technologies from a “buy” rating to a “neutral” rating and cut their price target for the stock from $490.00 to $400.00 in a report on Friday, April 26th. StockNews.com downgraded shares of Teledyne Technologies from a “buy” rating to a “hold” rating in a report on Thursday, April 25th. TD Cowen cut their price target on shares of Teledyne Technologies from $475.00 to $450.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. Finally, Needham & Company LLC cut their price target on shares of Teledyne Technologies from $510.00 to $455.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $470.83.

Teledyne Technologies Stock Performance

Teledyne Technologies stock traded down $4.63 during midday trading on Friday, reaching $389.60. The stock had a trading volume of 172,549 shares, compared to its average volume of 226,684. Teledyne Technologies Incorporated has a 12 month low of $355.41 and a 12 month high of $448.19. The firm’s 50-day moving average price is $395.38 and its 200 day moving average price is $415.91. The firm has a market capitalization of $18.46 billion, a PE ratio of 21.07, a P/E/G ratio of 2.77 and a beta of 1.04. The company has a quick ratio of 1.29, a current ratio of 1.81 and a debt-to-equity ratio of 0.28.

Teledyne Technologies (NYSE:TDY) last announced its quarterly earnings data on Wednesday, April 24th. The scientific and technical instruments company reported $4.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.63 by ($0.08). Teledyne Technologies had a net margin of 15.81% and a return on equity of 10.54%. The firm had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.39 billion. During the same quarter in the prior year, the firm posted $4.53 earnings per share. The company’s revenue was down 2.4% on a year-over-year basis. As a group, research analysts predict that Teledyne Technologies Incorporated will post 19.36 earnings per share for the current fiscal year.

About Teledyne Technologies

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.