Scientech Research LLC Acquires New Position in Teledyne Technologies Incorporated (NYSE:TDY)

Scientech Research LLC acquired a new stake in Teledyne Technologies Incorporated (NYSE:TDY - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 1,433 shares of the scientific and technical instruments company's stock, valued at approximately $556,000.

Several other hedge funds have also recently bought and sold shares of TDY. Kayne Anderson Rudnick Investment Management LLC raised its holdings in Teledyne Technologies by 17.8% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,238,091 shares of the scientific and technical instruments company's stock valued at $480,355,000 after acquiring an additional 186,849 shares in the last quarter. Maren Capital LLC acquired a new stake in shares of Teledyne Technologies during the 4th quarter worth about $82,700,000. Public Sector Pension Investment Board lifted its stake in Teledyne Technologies by 1,755.0% during the fourth quarter. Public Sector Pension Investment Board now owns 93,325 shares of the scientific and technical instruments company's stock worth $41,650,000 after purchasing an additional 88,294 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of Teledyne Technologies by 235.6% in the 2nd quarter. Assenagon Asset Management S.A. now owns 125,245 shares of the scientific and technical instruments company's stock valued at $48,593,000 after buying an additional 87,925 shares in the last quarter. Finally, Vanguard Group Inc. lifted its position in Teledyne Technologies by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 5,517,922 shares of the scientific and technical instruments company's stock valued at $2,462,593,000 after acquiring an additional 77,890 shares during the last quarter. Institutional investors and hedge funds own 91.58% of the company's stock.

Teledyne Technologies Stock Performance

Shares of TDY stock traded down $0.45 during midday trading on Friday, hitting $435.74. The company had a trading volume of 209,681 shares, compared to its average volume of 241,388. Teledyne Technologies Incorporated has a 52-week low of $355.41 and a 52-week high of $448.19. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.98 and a quick ratio of 1.28. The company's 50 day simple moving average is $421.20 and its 200 day simple moving average is $406.65. The stock has a market cap of $20.65 billion, a price-to-earnings ratio of 23.57, a PEG ratio of 3.05 and a beta of 1.02.

Teledyne Technologies (NYSE:TDY - Get Free Report) last announced its quarterly earnings data on Wednesday, July 24th. The scientific and technical instruments company reported $4.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.49 by $0.09. The company had revenue of $1.37 billion for the quarter, compared to analysts' expectations of $1.36 billion. Teledyne Technologies had a net margin of 15.86% and a return on equity of 10.27%. Teledyne Technologies's revenue was down 3.8% compared to the same quarter last year. During the same period in the previous year, the company posted $4.67 EPS. Research analysts anticipate that Teledyne Technologies Incorporated will post 19.43 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on TDY shares. Vertical Research initiated coverage on Teledyne Technologies in a research report on Tuesday, July 23rd. They set a "buy" rating and a $470.00 target price on the stock. Needham & Company LLC raised their target price on shares of Teledyne Technologies from $455.00 to $482.00 and gave the stock a "buy" rating in a research report on Thursday, July 25th. Finally, StockNews.com downgraded shares of Teledyne Technologies from a "buy" rating to a "hold" rating in a research report on Sunday, August 11th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Teledyne Technologies currently has a consensus rating of "Moderate Buy" and a consensus target price of $466.40.

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.