Newfound Research LLC Purchases Shares of 205 Teledyne Technologies Incorporated (NYSE:TDY)

Newfound Research LLC purchased a new stake in shares of Teledyne Technologies Incorporated (NYSE:TDYGet Rating) during the second quarter, Holdings Channel.com reports. The firm purchased 205 shares of the scientific and technical instruments company’s stock, valued at approximately $77,000.

A number of other hedge funds have also bought and sold shares of the stock. IFM Investors Pty Ltd increased its stake in Teledyne Technologies by 19.4% during the 2nd quarter. IFM Investors Pty Ltd now owns 8,195 shares of the scientific and technical instruments company’s stock valued at $3,074,000 after purchasing an additional 1,330 shares in the last quarter. Steph & Co. increased its stake in Teledyne Technologies by 21.5% during the 2nd quarter. Steph & Co. now owns 475 shares of the scientific and technical instruments company’s stock valued at $178,000 after purchasing an additional 84 shares in the last quarter. Flagship Harbor Advisors LLC increased its stake in Teledyne Technologies by 20.9% during the 2nd quarter. Flagship Harbor Advisors LLC now owns 643 shares of the scientific and technical instruments company’s stock valued at $241,000 after purchasing an additional 111 shares in the last quarter. Contravisory Investment Management Inc. acquired a new position in Teledyne Technologies during the 2nd quarter valued at approximately $350,000. Finally, Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in Teledyne Technologies by 17.5% during the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 3,335 shares of the scientific and technical instruments company’s stock valued at $1,251,000 after purchasing an additional 497 shares in the last quarter. Institutional investors and hedge funds own 89.77% of the company’s stock.

Teledyne Technologies Stock Performance

NYSE TDY traded down $11.70 during mid-day trading on Friday, reaching $348.64. 5,235 shares of the stock were exchanged, compared to its average volume of 209,361. The business’s 50 day moving average is $386.08 and its 200-day moving average is $407.31. Teledyne Technologies Incorporated has a 1 year low of $344.66 and a 1 year high of $493.97. The company has a market capitalization of $16.34 billion, a P/E ratio of 25.29, a P/E/G ratio of 2.42 and a beta of 1.07. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.08 and a current ratio of 1.67.

Teledyne Technologies (NYSE:TDYGet Rating) last announced its quarterly earnings results on Wednesday, July 27th. The scientific and technical instruments company reported $4.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.38 by $0.05. Teledyne Technologies had a net margin of 12.67% and a return on equity of 10.93%. The firm had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.36 billion. During the same period in the prior year, the firm posted $4.61 earnings per share. The firm’s quarterly revenue was up 20.9% compared to the same quarter last year. On average, equities research analysts forecast that Teledyne Technologies Incorporated will post 17.61 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

TDY has been the topic of a number of research reports. Morgan Stanley cut their price objective on shares of Teledyne Technologies from $470.00 to $445.00 and set an “underweight” rating on the stock in a research note on Tuesday, August 16th. TheStreet upgraded shares of Teledyne Technologies from a “c+” rating to a “b-” rating in a research note on Friday, August 5th. Finally, Needham & Company LLC cut their price objective on shares of Teledyne Technologies from $520.00 to $472.00 and set a “buy” rating on the stock in a research note on Thursday, July 28th.

About Teledyne Technologies

(Get Rating)

Teledyne Technologies Incorporated provides enabling technologies for industrial growth markets in the United States, Canada, the United Kingdom, Belgium, the Netherlands, and internationally. 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.

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

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