Teledyne Technologies Incorporated (NYSE:TDY) Position Raised by DNB Asset Management AS

DNB Asset Management AS raised its position in shares of Teledyne Technologies Incorporated (NYSE:TDY) by 5.3% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 7,538 shares of the scientific and technical instruments company’s stock after purchasing an additional 377 shares during the quarter. DNB Asset Management AS’s holdings in Teledyne Technologies were worth $2,925,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the company. Kapitalo Investimentos Ltda acquired a new position in Teledyne Technologies during the fourth quarter worth about $29,000. NBC Securities Inc. grew its stake in shares of Teledyne Technologies by 89.4% in the 1st quarter. NBC Securities Inc. now owns 89 shares of the scientific and technical instruments company’s stock worth $38,000 after purchasing an additional 42 shares during the last quarter. Creekmur Asset Management LLC bought a new stake in shares of Teledyne Technologies in the 4th quarter worth approximately $45,000. Covestor Ltd lifted its stake in Teledyne Technologies by 131.9% during the first quarter. Covestor Ltd now owns 109 shares of the scientific and technical instruments company’s stock valued at $47,000 after purchasing an additional 62 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV boosted its holdings in Teledyne Technologies by 32.1% during the second quarter. Massmutual Trust Co. FSB ADV now owns 140 shares of the scientific and technical instruments company’s stock worth $54,000 after buying an additional 34 shares in the last quarter. 91.58% of the stock is currently owned by institutional investors and hedge funds.

Teledyne Technologies Stock Performance

Shares of NYSE:TDY traded up $6.32 during midday trading on Tuesday, hitting $406.05. The company’s stock had a trading volume of 340,225 shares, compared to its average volume of 254,933. Teledyne Technologies Incorporated has a fifty-two week low of $355.41 and a fifty-two week high of $448.19. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.28 and a current ratio of 1.98. The stock has a market capitalization of $19.24 billion, a price-to-earnings ratio of 22.14, a PEG ratio of 2.89 and a beta of 1.00. The stock’s 50 day simple moving average is $395.60 and its 200 day simple moving average is $408.13.

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. The company had revenue of $1.37 billion for 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 business’s revenue was down 3.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $4.67 EPS. As a group, research analysts anticipate that Teledyne Technologies Incorporated will post 19.37 earnings per share for the current year.

Wall Street Analysts Forecast Growth

TDY has been the subject of a number of recent research reports. Bank of America downgraded Teledyne Technologies from a “buy” rating to a “neutral” rating and cut their price objective for the company from $490.00 to $400.00 in a research report on Friday, April 26th. Vertical Research began coverage on Teledyne Technologies in a research report on Tuesday, July 23rd. They issued a “buy” rating and a $470.00 price target for the company. TD Cowen cut their price objective on Teledyne Technologies from $475.00 to $450.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. StockNews.com upgraded shares of Teledyne Technologies from a “hold” rating to a “buy” rating in a report on Saturday. Finally, Needham & Company LLC boosted their price target on shares of Teledyne Technologies from $455.00 to $482.00 and gave the company a “buy” rating in a report on Thursday, July 25th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price 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.