Millennium Management LLC Acquires 59,942 Shares of Teledyne Technologies Incorporated (NYSE:TDY)

Millennium Management LLC boosted its position in shares of Teledyne Technologies Incorporated (NYSE:TDY - Free Report) by 88.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 127,752 shares of the scientific and technical instruments company's stock after buying an additional 59,942 shares during the period. Millennium Management LLC owned 0.27% of Teledyne Technologies worth $49,565,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in TDY. American National Bank acquired a new position in Teledyne Technologies in the second quarter valued at approximately $28,000. Innealta Capital LLC purchased a new position in Teledyne Technologies in the second quarter valued at $28,000. Kapitalo Investimentos Ltda acquired a new position in Teledyne Technologies in the fourth quarter valued at $29,000. Tortoise Investment Management LLC boosted its stake in shares of Teledyne Technologies by 48.0% during the second quarter. Tortoise Investment Management LLC now owns 74 shares of the scientific and technical instruments company's stock worth $29,000 after buying an additional 24 shares during the period. Finally, Crewe Advisors LLC lifted its position in 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 valued at $34,000 after purchasing an additional 67 shares during the period. 91.58% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on TDY shares. Vertical Research began coverage on shares of Teledyne Technologies in a research note on Tuesday, July 23rd. They set a "buy" rating and a $470.00 price objective for the company. StockNews.com cut Teledyne Technologies from a "buy" rating to a "hold" rating in a research note on Sunday, August 11th. Finally, Needham & Company LLC lifted their price objective 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. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $466.40.

Teledyne Technologies Stock Up 0.4 %

Shares of NYSE TDY traded up $1.85 during trading hours on Tuesday, hitting $439.51. The stock had a trading volume of 208,818 shares, compared to its average volume of 240,925. The company has a market capitalization of $20.56 billion, a P/E ratio of 23.67, a P/E/G ratio of 3.05 and a beta of 1.02. The firm's 50-day moving average price is $422.00 and its two-hundred day moving average price is $406.71. 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 quick ratio of 1.28 and a current ratio of 1.98.

Teledyne Technologies (NYSE:TDY - Get Free Report) last announced its quarterly 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 analysts' expectations of $1.36 billion. Teledyne Technologies had a return on equity of 10.27% and a net margin of 15.86%. The firm's quarterly revenue was down 3.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $4.67 EPS. 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.