Deerfield Management Company L.P. Series C Grows Stock Holdings in Teledyne Technologies Incorporated (NYSE:TDY)

Deerfield Management Company L.P. Series C increased its position in shares of Teledyne Technologies Incorporated (NYSE:TDY - Free Report) by 274.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,656 shares of the scientific and technical instruments company's stock after purchasing an additional 2,680 shares during the period. Deerfield Management Company L.P. Series C's holdings in Teledyne Technologies were worth $1,418,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. American National Bank bought a new stake in shares of Teledyne Technologies during the second quarter valued at approximately $28,000. Innealta Capital LLC purchased a new stake in Teledyne Technologies in the 2nd quarter worth $28,000. Kapitalo Investimentos Ltda purchased a new stake in Teledyne Technologies in the 4th quarter worth $29,000. Tortoise Investment Management LLC boosted its holdings in shares of Teledyne Technologies by 48.0% during the 2nd quarter. Tortoise Investment Management LLC now owns 74 shares of the scientific and technical instruments company's stock valued at $29,000 after purchasing an additional 24 shares during the last quarter. Finally, Crewe Advisors LLC increased its holdings in shares of Teledyne Technologies by 319.0% in the second quarter. Crewe Advisors LLC now owns 88 shares of the scientific and technical instruments company's stock worth $34,000 after purchasing an additional 67 shares during the last quarter. Hedge funds and other institutional investors own 91.58% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Needham & Company LLC increased their price target on Teledyne Technologies from $455.00 to $482.00 and gave the company a "buy" rating in a research note on Thursday, July 25th. Vertical Research began coverage on Teledyne Technologies in a research report on Tuesday, July 23rd. They set a "buy" rating and a $470.00 target price for the company. Finally, StockNews.com cut shares of Teledyne Technologies from a "buy" rating to a "hold" rating in a research report on Sunday, August 11th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $471.17.

Teledyne Technologies Trading Up 0.6 %

TDY traded up $2.60 during trading on Thursday, reaching $436.11. The company had a trading volume of 189,784 shares, compared to its average volume of 241,563. The company has a quick ratio of 1.28, a current ratio of 1.98 and a debt-to-equity ratio of 0.28. The business has a 50 day simple moving average of $420.34 and a 200-day simple moving average of $406.71. The stock has a market cap of $20.66 billion, a P/E ratio of 23.59, a PEG ratio of 3.03 and a beta of 1.02. Teledyne Technologies Incorporated has a 52 week low of $355.41 and a 52 week high of $448.19.

Teledyne Technologies (NYSE:TDY - Get Free Report) last released its earnings results 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. Teledyne Technologies had a net margin of 15.86% and a return on equity of 10.27%. The firm had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.36 billion. During the same quarter last year, the business earned $4.67 EPS. The business's revenue was down 3.8% on a year-over-year basis. On average, equities analysts anticipate that Teledyne Technologies Incorporated will post 19.43 EPS for the current fiscal year.

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.