Natixis Advisors L.P. decreased its holdings in Teledyne Technologies Incorporated (NYSE:TDY) by 2.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 22,620 shares of the scientific and technical instruments company’s stock after selling 656 shares during the quarter. Natixis Advisors L.P. owned approximately 0.06% of Teledyne Technologies worth $6,195,000 at the end of the most recent reporting period.
Several other institutional investors have also modified their holdings of the stock. Panagora Asset Management Inc. grew its position in shares of Teledyne Technologies by 170.5% in the 2nd quarter. Panagora Asset Management Inc. now owns 95,210 shares of the scientific and technical instruments company’s stock valued at $26,075,000 after buying an additional 60,008 shares during the last quarter. BNP Paribas Arbitrage SA lifted its stake in shares of Teledyne Technologies by 1,761.5% in the second quarter. BNP Paribas Arbitrage SA now owns 52,774 shares of the scientific and technical instruments company’s stock worth $14,453,000 after acquiring an additional 49,939 shares during the period. Citigroup Inc. boosted its holdings in Teledyne Technologies by 326.2% in the first quarter. Citigroup Inc. now owns 62,003 shares of the scientific and technical instruments company’s stock valued at $14,696,000 after acquiring an additional 47,455 shares during the last quarter. Artisan Partners Limited Partnership boosted its holdings in Teledyne Technologies by 8.5% in the first quarter. Artisan Partners Limited Partnership now owns 535,709 shares of the scientific and technical instruments company’s stock valued at $126,968,000 after acquiring an additional 42,133 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in Teledyne Technologies by 12.5% during the 4th quarter. Geode Capital Management LLC now owns 379,773 shares of the scientific and technical instruments company’s stock valued at $78,639,000 after purchasing an additional 42,048 shares during the period. 85.08% of the stock is currently owned by institutional investors.
In related news, Director Simon M. Lorne sold 248 shares of the business’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $295.47, for a total transaction of $73,276.56. Following the transaction, the director now owns 31,271 shares in the company, valued at approximately $9,239,642.37. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Cynthia Y. Belak sold 11,362 shares of the business’s stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $264.49, for a total transaction of $3,005,135.38. Following the transaction, the vice president now owns 14,407 shares in the company, valued at approximately $3,810,507.43. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 19,610 shares of company stock valued at $5,478,592. Insiders own 3.19% of the company’s stock.
Shares of NYSE:TDY traded up $0.79 during midday trading on Wednesday, reaching $306.37. The company’s stock had a trading volume of 4,535 shares, compared to its average volume of 178,323. The firm has a market capitalization of $11.35 billion, a price-to-earnings ratio of 34.55, a PEG ratio of 4.18 and a beta of 1.11. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.08 and a current ratio of 1.63. The firm has a 50 day moving average price of $300.57 and a two-hundred day moving average price of $262.04. Teledyne Technologies Incorporated has a fifty-two week low of $189.35 and a fifty-two week high of $323.10.
Teledyne Technologies (NYSE:TDY) last issued its earnings results on Wednesday, July 24th. The scientific and technical instruments company reported $2.80 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.40 by $0.40. Teledyne Technologies had a return on equity of 15.09% and a net margin of 12.04%. The business had revenue of $782.00 million during the quarter, compared to the consensus estimate of $781.55 million. During the same period in the previous year, the company posted $2.32 earnings per share. The firm’s revenue for the quarter was up 6.8% on a year-over-year basis. As a group, research analysts anticipate that Teledyne Technologies Incorporated will post 9.95 earnings per share for the current year.
TDY has been the subject of several analyst reports. Berenberg Bank began coverage on shares of Teledyne Technologies in a report on Tuesday, June 11th. They set a “buy” rating and a $290.00 price target for the company. ValuEngine raised shares of Teledyne Technologies from a “hold” rating to a “buy” rating in a research note on Wednesday, September 4th. Needham & Company LLC increased their price objective on shares of Teledyne Technologies from $275.00 to $328.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Finally, Cowen lifted their target price on shares of Teledyne Technologies from $275.00 to $300.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. Five investment analysts have rated the stock with a buy rating, The company has an average rating of “Buy” and a consensus price target of $293.75.
Teledyne Technologies Profile
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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