Clearbridge Investments LLC Boosts Holdings in Teledyne Technologies Incorporated (NYSE:TDY)

Clearbridge Investments LLC increased its holdings in Teledyne Technologies Incorporated (NYSE:TDY - Free Report) by 7.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 286,572 shares of the scientific and technical instruments company's stock after acquiring an additional 19,536 shares during the period. Clearbridge Investments LLC owned about 0.61% of Teledyne Technologies worth $111,184,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in TDY. TD Asset Management Inc grew its position in Teledyne Technologies by 3.8% in the 4th quarter. TD Asset Management Inc now owns 27,242 shares of the scientific and technical instruments company's stock worth $12,158,000 after purchasing an additional 1,000 shares in the last quarter. Stifel Financial Corp grew its position in Teledyne Technologies by 7.1% in the 4th quarter. Stifel Financial Corp now owns 35,250 shares of the scientific and technical instruments company's stock worth $15,732,000 after purchasing an additional 2,322 shares in the last quarter. Bank of Nova Scotia grew its position in Teledyne Technologies by 25.8% in the 4th quarter. Bank of Nova Scotia now owns 6,835 shares of the scientific and technical instruments company's stock worth $3,050,000 after purchasing an additional 1,401 shares in the last quarter. California State Teachers Retirement System grew its position in Teledyne Technologies by 2.7% in the 4th quarter. California State Teachers Retirement System now owns 74,648 shares of the scientific and technical instruments company's stock worth $33,315,000 after purchasing an additional 1,957 shares in the last quarter. Finally, KBC Group NV grew its position in Teledyne Technologies by 7.8% in the 4th quarter. KBC Group NV now owns 10,068 shares of the scientific and technical instruments company's stock worth $4,493,000 after purchasing an additional 729 shares in the last quarter. Institutional investors and hedge funds own 91.58% of the company's stock.

Teledyne Technologies Stock Performance

TDY traded up $4.25 on Wednesday, hitting $443.73. The company's stock had a trading volume of 220,538 shares, compared to its average volume of 240,818. The company's 50 day simple moving average is $422.74 and its 200-day simple moving average is $406.88. The firm has a market cap of $20.76 billion, a P/E ratio of 24.00, a price-to-earnings-growth ratio of 3.05 and a beta of 1.02. Teledyne Technologies Incorporated has a 12 month low of $355.41 and a 12 month high of $448.19. The company has a quick ratio of 1.28, a current ratio of 1.98 and a debt-to-equity ratio of 0.28.

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 EPS for the quarter, topping the consensus estimate of $4.49 by $0.09. The company had revenue of $1.37 billion during the quarter, compared to the consensus estimate 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 for the quarter was down 3.8% on a year-over-year basis. During the same period last year, the firm earned $4.67 EPS. Analysts forecast that Teledyne Technologies Incorporated will post 19.43 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on TDY shares. Vertical Research started coverage on shares of Teledyne Technologies in a research report on Tuesday, July 23rd. They issued a "buy" rating and a $470.00 price objective for the company. Needham & Company LLC increased their target price on shares of Teledyne Technologies from $455.00 to $482.00 and gave the company a "buy" rating in a research report on Thursday, July 25th. Finally, StockNews.com raised shares of Teledyne Technologies from a "hold" rating to a "buy" rating in a research report on Wednesday. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, Teledyne Technologies presently has a consensus rating of "Moderate Buy" and an average target price of $466.40.

Teledyne Technologies Company 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.