Magnetar Financial LLC Takes $417,000 Position in Teledyne Technologies Incorporated (NYSE:TDY)

Magnetar Financial LLC purchased a new stake in shares of Teledyne Technologies Incorporated (NYSE:TDY) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 972 shares of the scientific and technical instruments company’s stock, valued at approximately $417,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of TDY. Mutual Advisors LLC increased its stake in shares of Teledyne Technologies by 6.5% in the 4th quarter. Mutual Advisors LLC now owns 782 shares of the scientific and technical instruments company’s stock worth $349,000 after purchasing an additional 48 shares in the last quarter. CVA Family Office LLC purchased a new stake in shares of Teledyne Technologies in the 4th quarter worth $31,000. Raymond James Financial Services Advisors Inc. increased its stake in shares of Teledyne Technologies by 14.7% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 3,006 shares of the scientific and technical instruments company’s stock worth $1,342,000 after purchasing an additional 386 shares in the last quarter. Pacer Advisors Inc. increased its stake in shares of Teledyne Technologies by 18.8% in the 4th quarter. Pacer Advisors Inc. now owns 3,602 shares of the scientific and technical instruments company’s stock worth $1,608,000 after purchasing an additional 569 shares in the last quarter. Finally, Blue Trust Inc. increased its stake in shares of Teledyne Technologies by 21.8% in the 4th quarter. Blue Trust Inc. now owns 699 shares of the scientific and technical instruments company’s stock worth $285,000 after purchasing an additional 125 shares in the last quarter. 91.58% of the stock is owned by institutional investors.

Teledyne Technologies Trading Up 0.2 %

Shares of NYSE:TDY traded up $0.73 during trading on Monday, reaching $422.29. The company’s stock had a trading volume of 18,730 shares, compared to its average volume of 251,667. The company has a current ratio of 1.98, a quick ratio of 1.28 and a debt-to-equity ratio of 0.28. Teledyne Technologies Incorporated has a 12 month low of $355.41 and a 12 month high of $448.19. The firm’s 50 day simple moving average is $394.20 and its two-hundred day simple moving average is $408.73. The stock has a market capitalization of $20.01 billion, a PE ratio of 22.80, a price-to-earnings-growth ratio of 2.97 and a beta of 1.00.

Teledyne Technologies (NYSE:TDY) last announced 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. The business had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.36 billion. Teledyne Technologies had a net margin of 15.86% and a return on equity of 10.27%. The firm’s quarterly revenue was down 3.8% compared to the same quarter last year. During the same quarter last year, the firm earned $4.67 earnings per share. On average, research analysts predict that Teledyne Technologies Incorporated will post 19.34 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have issued reports on TDY. Bank of America lowered 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 research note on Friday, April 26th. Needham & Company LLC increased their price target on Teledyne Technologies from $455.00 to $482.00 and gave the stock a “buy” rating in a research note on Thursday. TD Cowen cut their price target on Teledyne Technologies from $475.00 to $450.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. Vertical Research began coverage on Teledyne Technologies in a research note on Tuesday, July 23rd. They issued a “buy” rating and a $470.00 price target for the company. Finally, StockNews.com lowered Teledyne Technologies from a “buy” rating to a “hold” rating in a research note on Friday. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Teledyne Technologies currently has an average rating of “Moderate Buy” and a consensus price target of $474.57.

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.