Distillate Capital Partners LLC Buys Shares of 37,449 Teledyne Technologies Incorporated (NYSE:TDY)

Distillate Capital Partners LLC purchased a new stake in Teledyne Technologies Incorporated (NYSE:TDY - Free Report) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 37,449 shares of the scientific and technical instruments company's stock, valued at approximately $14,529,000. Distillate Capital Partners LLC owned approximately 0.08% of Teledyne Technologies at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in TDY. Vanguard Group Inc. increased its position in shares of Teledyne Technologies by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 5,534,111 shares of the scientific and technical instruments company's stock valued at $2,375,905,000 after purchasing an additional 16,189 shares during the last quarter. Janus Henderson Group PLC raised its stake in Teledyne Technologies by 3.2% in the first quarter. Janus Henderson Group PLC now owns 1,574,679 shares of the scientific and technical instruments company's stock valued at $676,041,000 after buying an additional 48,397 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC lifted its holdings in Teledyne Technologies by 17.8% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,238,091 shares of the scientific and technical instruments company's stock worth $480,355,000 after buying an additional 186,849 shares during the last quarter. Northern Trust Corp boosted its position in shares of Teledyne Technologies by 1.9% during the 4th quarter. Northern Trust Corp now owns 519,334 shares of the scientific and technical instruments company's stock worth $231,774,000 after acquiring an additional 9,455 shares in the last quarter. Finally, Earnest Partners LLC increased its holdings in shares of Teledyne Technologies by 5.9% in the 1st quarter. Earnest Partners LLC now owns 385,066 shares of the scientific and technical instruments company's stock valued at $165,317,000 after acquiring an additional 21,547 shares during the last quarter. Hedge funds and other institutional investors own 91.58% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on TDY shares. Vertical Research initiated coverage on shares of Teledyne Technologies in a research note on Tuesday, July 23rd. They issued a "buy" rating and a $470.00 price target on the stock. Needham & Company LLC lifted their price target on shares of Teledyne Technologies from $455.00 to $482.00 and gave the stock a "buy" rating in a research note on Thursday, July 25th. Finally, StockNews.com downgraded shares of Teledyne Technologies from a "buy" rating to a "hold" rating in a research note on Sunday, August 11th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $471.17.

Teledyne Technologies Stock Performance

TDY traded up $2.54 during trading on Tuesday, hitting $435.28. The stock had a trading volume of 164,531 shares, compared to its average volume of 242,343. Teledyne Technologies Incorporated has a twelve month low of $355.41 and a twelve month high of $448.19. The firm has a market capitalization of $20.62 billion, a P/E ratio of 23.54, a PEG ratio of 3.01 and a beta of 1.02. 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 company's 50-day moving average price is $418.98 and its 200 day moving average price is $406.31.

Teledyne Technologies (NYSE:TDY - Get Free Report) last released 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 firm had revenue of $1.37 billion during the quarter, compared to analysts' expectations of $1.36 billion. Teledyne Technologies had a return on equity of 10.27% and a net margin of 15.86%. Teledyne Technologies's revenue was down 3.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $4.67 earnings per share. On average, equities research analysts forecast that Teledyne Technologies Incorporated will post 19.43 EPS 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.