Yacktman Asset Management LP Trims Position in Teledyne Technologies Incorporated (NYSE:TDY)

Yacktman Asset Management LP trimmed its holdings in shares of Teledyne Technologies Incorporated (NYSE:TDY - Free Report) by 54.5% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 7,500 shares of the scientific and technical instruments company's stock after selling 9,000 shares during the quarter. Yacktman Asset Management LP's holdings in Teledyne Technologies were worth $3,282,000 as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. Orion Portfolio Solutions LLC grew its position in shares of Teledyne Technologies by 46.2% in the first quarter. Orion Portfolio Solutions LLC now owns 4,161 shares of the scientific and technical instruments company's stock valued at $1,786,000 after purchasing an additional 1,315 shares during the last quarter. Clearbridge Investments LLC raised its holdings in shares of Teledyne Technologies by 11.2% in the 1st quarter. Clearbridge Investments LLC now owns 267,036 shares of the scientific and technical instruments company's stock worth $114,644,000 after purchasing an additional 26,793 shares during the period. State Board of Administration of Florida Retirement System increased its stake in shares of Teledyne Technologies by 3.6% in the first quarter. State Board of Administration of Florida Retirement System now owns 48,288 shares of the scientific and technical instruments company's stock worth $21,602,000 after purchasing an additional 1,665 shares in the last quarter. SG Americas Securities LLC boosted its holdings in shares of Teledyne Technologies by 49.8% in the first quarter. SG Americas Securities LLC now owns 13,349 shares of the scientific and technical instruments company's stock worth $5,731,000 after acquiring an additional 4,440 shares during the period. Finally, Envestnet Portfolio Solutions Inc. boosted its holdings in Teledyne Technologies by 38.2% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 12,781 shares of the scientific and technical instruments company's stock valued at $5,487,000 after purchasing an additional 3,532 shares during the period. 91.58% of the stock is owned by institutional investors.

Teledyne Technologies Price Performance

Shares of Teledyne Technologies stock traded up $1.45 during trading hours on Tuesday, reaching $459.37. 200,365 shares of the company's stock were exchanged, compared to its average volume of 239,618. The company has a quick ratio of 1.35, a current ratio of 2.00 and a debt-to-equity ratio of 0.28. The business has a fifty day moving average of $440.88 and a two-hundred day moving average of $413.09. Teledyne Technologies Incorporated has a 1 year low of $355.41 and a 1 year high of $475.73. The company has a market capitalization of $21.41 billion, a P/E ratio of 23.15, a price-to-earnings-growth ratio of 3.19 and a beta of 1.01.

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, beating analysts' consensus estimates of $4.97 by $0.13. Teledyne Technologies had a return on equity of 10.02% and a net margin of 16.88%. The firm had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.42 billion. During the same period last year, the business posted $5.05 earnings per share. Teledyne Technologies's revenue was up 2.9% compared to the same quarter last year. As a group, research analysts predict that Teledyne Technologies Incorporated will post 19.44 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. StockNews.com upgraded shares of Teledyne Technologies from a "hold" rating to a "buy" rating in a research report on Wednesday, October 2nd. TD Cowen upped their target price on shares of Teledyne Technologies from $450.00 to $500.00 and gave the stock a "buy" rating in a research note on Thursday, October 24th. Needham & Company LLC raised their price objective on shares of Teledyne Technologies from $482.00 to $528.00 and gave the stock a "buy" rating in a report on Thursday, October 24th. 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 on the stock. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, Teledyne Technologies has an average rating of "Moderate Buy" and an average price target of $474.50.

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.