Mediolanum International Funds Ltd Trims Position in Teledyne Technologies Incorporated (NYSE:TDY)

Mediolanum International Funds Ltd lessened its stake in Teledyne Technologies Incorporated (NYSE:TDY - Free Report) by 43.6% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 13,235 shares of the scientific and technical instruments company's stock after selling 10,212 shares during the quarter. Mediolanum International Funds Ltd's holdings in Teledyne Technologies were worth $5,757,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Wolff Wiese Magana LLC purchased a new position in Teledyne Technologies in the third quarter valued at $27,000. American National Bank purchased 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 Teledyne Technologies in the 2nd quarter worth about $28,000. Tortoise Investment Management LLC boosted its position in 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 purchasing an additional 24 shares in the last quarter. Finally, Crewe Advisors LLC grew its holdings 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. Hedge funds and other institutional investors own 91.58% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on TDY. TD Cowen upped their target price on Teledyne Technologies from $450.00 to $500.00 and gave the stock a "buy" rating in a research note on Thursday. Needham & Company LLC upped their price objective on shares of Teledyne Technologies from $482.00 to $528.00 and gave the stock a "buy" rating in a research report on Thursday. StockNews.com upgraded shares of Teledyne Technologies from a "hold" rating to a "buy" rating in a research report on Wednesday, October 2nd. Finally, Vertical Research assumed 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. One analyst has rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $474.50.

Teledyne Technologies Price Performance

Shares of TDY traded down $3.67 during trading hours on Friday, hitting $469.19. 205,880 shares of the stock were exchanged, compared to its average volume of 240,819. The stock's 50-day moving average price is $435.99 and its two-hundred day moving average price is $410.52. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.28 and a current ratio of 1.98. The company has a market cap of $22.23 billion, a price-to-earnings ratio of 25.38, a price-to-earnings-growth ratio of 3.11 and a beta of 1.01. Teledyne Technologies Incorporated has a 12-month low of $355.41 and a 12-month high of $475.73.

Teledyne Technologies (NYSE:TDY - Get Free Report) last released its earnings results on Wednesday, October 23rd. The scientific and technical instruments company reported $5.10 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.97 by $0.13. The business had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.42 billion. Teledyne Technologies had a net margin of 15.86% and a return on equity of 10.27%. The company's revenue for the quarter was up 2.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $5.05 earnings per share. Research analysts expect that Teledyne Technologies Incorporated will post 19.43 earnings per share for the current 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.