ARK Investment Management LLC Lowers Stake in Teledyne Technologies Incorporated (NYSE:TDY)

ARK Investment Management LLC reduced its position in Teledyne Technologies Incorporated (NYSE:TDY - Free Report) by 10.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 30,486 shares of the scientific and technical instruments company's stock after selling 3,658 shares during the period. ARK Investment Management LLC owned approximately 0.07% of Teledyne Technologies worth $13,343,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of Teledyne Technologies by 0.3% in the first quarter. Vanguard Group Inc. now owns 5,534,111 shares of the scientific and technical instruments company's stock worth $2,375,905,000 after buying an additional 16,189 shares during the last quarter. Janus Henderson Group PLC lifted its holdings in Teledyne Technologies by 3.2% during the first quarter. Janus Henderson Group PLC now owns 1,574,679 shares of the scientific and technical instruments company's stock valued at $676,041,000 after purchasing an additional 48,397 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC lifted its holdings in Teledyne Technologies by 17.8% during 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 purchasing an additional 186,849 shares in the last quarter. Earnest Partners LLC lifted its holdings in Teledyne Technologies by 3.5% during the second quarter. Earnest Partners LLC now owns 398,642 shares of the scientific and technical instruments company's stock valued at $154,665,000 after purchasing an additional 13,576 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of Teledyne Technologies by 9.4% during the second quarter. Dimensional Fund Advisors LP now owns 375,265 shares of the scientific and technical instruments company's stock valued at $145,594,000 after buying an additional 32,339 shares during the last quarter. Institutional investors own 91.58% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on TDY shares. StockNews.com upgraded shares of Teledyne Technologies from a "hold" rating to a "buy" rating in a research report on Wednesday, October 2nd. Bank of America upgraded shares of Teledyne Technologies from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $450.00 to $550.00 in a research report on Friday. Vertical Research started coverage on shares of Teledyne Technologies in a research report on Tuesday, July 23rd. They set a "buy" rating and a $470.00 price objective on the stock. Needham & Company LLC boosted their price target on shares of Teledyne Technologies from $482.00 to $528.00 and gave the stock a "buy" rating in a research report on Thursday, October 24th. Finally, TD Cowen boosted their price target on shares of Teledyne Technologies from $450.00 to $500.00 and gave the stock a "buy" rating in a research report on Thursday, October 24th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $512.00.

Teledyne Technologies Trading Up 2.4 %

TDY stock traded up $11.58 during mid-day trading on Friday, reaching $489.24. 343,548 shares of the stock traded hands, compared to its average volume of 240,688. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.35 and a current ratio of 2.00. Teledyne Technologies Incorporated has a one year low of $355.41 and a one year high of $492.00. The stock has a market capitalization of $22.80 billion, a PE ratio of 24.73, a PEG ratio of 3.37 and a beta of 1.01. The business has a 50-day moving average price of $444.79 and a two-hundred day moving average price of $415.00.

Teledyne Technologies (NYSE:TDY - Get Free Report) last posted its quarterly earnings data on Wednesday, October 23rd. The scientific and technical instruments company reported $5.10 earnings per share for the quarter, beating analysts' consensus estimates of $4.97 by $0.13. Teledyne Technologies had a net margin of 16.88% and a return on equity of 10.02%. The business had revenue of $1.44 billion for the quarter, compared to analysts' expectations of $1.42 billion. During the same quarter in the previous year, the business posted $5.05 earnings per share. The business's revenue was up 2.9% compared to the same quarter last year. Equities research analysts expect that Teledyne Technologies Incorporated will post 19.44 EPS for the current year.

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.