Ascent Group LLC Takes Position in Teledyne Technologies Incorporated (NYSE:TDY)

Ascent Group LLC purchased a new position in shares of Teledyne Technologies Incorporated (NYSE:TDY) during the first quarter, HoldingsChannel reports. The firm purchased 5,701 shares of the scientific and technical instruments company’s stock, valued at approximately $2,448,000.

A number of other institutional investors have also added to or reduced their stakes in TDY. Norges Bank acquired a new position in shares of Teledyne Technologies during the fourth quarter valued at about $243,111,000. Maren Capital LLC bought a new stake in Teledyne Technologies during the 4th quarter worth approximately $82,700,000. Public Sector Pension Investment Board raised its stake in shares of Teledyne Technologies by 1,755.0% in the fourth quarter. Public Sector Pension Investment Board now owns 93,325 shares of the scientific and technical instruments company’s stock worth $41,650,000 after purchasing an additional 88,294 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Teledyne Technologies by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 5,517,922 shares of the scientific and technical instruments company’s stock valued at $2,462,593,000 after purchasing an additional 77,890 shares in the last quarter. Finally, International Assets Investment Management LLC boosted its position in shares of Teledyne Technologies by 37,167.5% during the fourth quarter. International Assets Investment Management LLC now owns 72,299 shares of the scientific and technical instruments company’s stock valued at $32,266,000 after buying an additional 72,105 shares during the last quarter. 91.58% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on TDY shares. StockNews.com lowered Teledyne Technologies from a “buy” rating to a “hold” rating in a research report on Friday. Vertical Research initiated coverage on shares of Teledyne Technologies in a research report on Tuesday, July 23rd. They set a “buy” rating and a $470.00 price target on the stock. Bank of America downgraded shares of Teledyne Technologies from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $490.00 to $400.00 in a research report on Friday, April 26th. Needham & Company LLC lifted their target price on shares of Teledyne Technologies from $455.00 to $482.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, TD Cowen reduced their target price on Teledyne Technologies from $475.00 to $450.00 and set a “buy” rating for the company in a report on Thursday, April 25th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $474.57.

Teledyne Technologies Stock Performance

TDY traded up $1.48 during midday trading on Monday, reaching $423.04. The company had a trading volume of 291,192 shares, compared to its average volume of 253,641. Teledyne Technologies Incorporated has a 12-month low of $355.41 and a 12-month high of $448.19. The business has a 50-day moving average price of $394.20 and a two-hundred day moving average price of $408.73. The stock has a market cap of $20.04 billion, a PE ratio of 22.88, a P/E/G ratio of 2.97 and a beta of 1.00. 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) last posted its quarterly earnings data 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. Teledyne Technologies had a return on equity of 10.27% and a net margin of 15.86%. The business had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.36 billion. During the same quarter in the prior year, the business earned $4.67 earnings per share. Teledyne Technologies’s revenue for the quarter was down 3.8% on a year-over-year basis. On average, sell-side analysts expect that Teledyne Technologies Incorporated will post 19.34 earnings per share for the current fiscal year.

About Teledyne Technologies

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.