Teledyne Technologies Incorporated (NYSE:TDY) Holdings Cut by Select Equity Group L.P.

Select Equity Group L.P. lowered its stake in Teledyne Technologies Incorporated (NYSE:TDY - Free Report) by 20.2% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 979,779 shares of the scientific and technical instruments company's stock after selling 247,800 shares during the period. Teledyne Technologies accounts for approximately 1.5% of Select Equity Group L.P.'s holdings, making the stock its 24th biggest holding. Select Equity Group L.P. owned 2.07% of Teledyne Technologies worth $380,135,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of TDY. American National Bank acquired a new position in shares of Teledyne Technologies in the 2nd quarter valued at about $28,000. Innealta Capital LLC acquired a new position in shares of Teledyne Technologies in the 2nd quarter valued at about $28,000. Kapitalo Investimentos Ltda acquired a new position in shares of Teledyne Technologies in the 4th quarter valued at about $29,000. Tortoise Investment Management LLC boosted its holdings in shares of Teledyne Technologies by 48.0% in 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 buying an additional 24 shares during the period. Finally, Crewe Advisors LLC boosted its stake in Teledyne Technologies by 319.0% during the 2nd quarter. Crewe Advisors LLC now owns 88 shares of the scientific and technical instruments company's stock valued at $34,000 after purchasing an additional 67 shares during the period. Institutional investors own 91.58% of the company's stock.

Teledyne Technologies Price Performance

TDY stock traded down $0.59 on Friday, hitting $435.60. 209,681 shares of the company's stock traded hands, compared to its average volume of 241,388. Teledyne Technologies Incorporated has a 1-year low of $355.41 and a 1-year high of $448.19. The stock has a market cap of $20.38 billion, a price-to-earnings ratio of 23.56, a P/E/G ratio of 3.05 and a beta of 1.02. The stock has a fifty day moving average of $420.34 and a 200-day moving average of $406.71. The company has a current ratio of 1.98, a quick ratio of 1.28 and a debt-to-equity ratio of 0.28.

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 EPS for the quarter, beating the consensus estimate of $4.49 by $0.09. The business had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.36 billion. Teledyne Technologies had a net margin of 15.86% and a return on equity of 10.27%. The business's quarterly revenue was down 3.8% on a year-over-year basis. During the same period in the prior year, the business earned $4.67 earnings per share. On average, analysts forecast that Teledyne Technologies Incorporated will post 19.43 EPS for the current fiscal year.

Analysts Set New Price Targets

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

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.