Clearbridge Investments LLC lessened its position in shares of Teledyne Technologies Incorporated (NYSE:TDY) by 9.8% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 428,635 shares of the scientific and technical instruments company’s stock after selling 46,439 shares during the period. Clearbridge Investments LLC owned 1.21% of Teledyne Technologies worth $77,647,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Jefferies Group LLC bought a new position in Teledyne Technologies during the fourth quarter worth $846,000. Advisor Group Inc. raised its stake in Teledyne Technologies by 41.6% during the fourth quarter. Advisor Group Inc. now owns 1,075 shares of the scientific and technical instruments company’s stock worth $195,000 after buying an additional 316 shares during the last quarter. Precision Path Capital LP bought a new position in Teledyne Technologies during the fourth quarter worth $2,717,000. Geode Capital Management LLC raised its stake in Teledyne Technologies by 1.1% during the fourth quarter. Geode Capital Management LLC now owns 295,771 shares of the scientific and technical instruments company’s stock worth $53,578,000 after buying an additional 3,237 shares during the last quarter. Finally, Amalgamated Bank raised its stake in Teledyne Technologies by 6.1% during the fourth quarter. Amalgamated Bank now owns 7,054 shares of the scientific and technical instruments company’s stock worth $1,278,000 after buying an additional 405 shares during the last quarter. 85.03% of the stock is owned by institutional investors and hedge funds.
A number of equities analysts recently weighed in on TDY shares. ValuEngine downgraded shares of Teledyne Technologies from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Zacks Investment Research downgraded shares of Teledyne Technologies from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 5th. Finally, Needham & Company LLC raised their price target on shares of Teledyne Technologies to $205.00 and gave the stock a “buy” rating in a report on Wednesday, January 24th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $196.00.
Shares of Teledyne Technologies Incorporated (TDY) opened at $192.93 on Tuesday. The company has a quick ratio of 1.13, a current ratio of 1.87 and a debt-to-equity ratio of 0.55. The company has a market cap of $6,840.00, a price-to-earnings ratio of 30.24, a price-to-earnings-growth ratio of 3.43 and a beta of 1.02. Teledyne Technologies Incorporated has a twelve month low of $121.58 and a twelve month high of $201.40.
Teledyne Technologies (NYSE:TDY) last posted its quarterly earnings results on Thursday, February 1st. The scientific and technical instruments company reported $1.95 EPS for the quarter, topping analysts’ consensus estimates of $1.74 by $0.21. The business had revenue of $704.40 million during the quarter, compared to analysts’ expectations of $669.25 million. Teledyne Technologies had a net margin of 8.73% and a return on equity of 14.07%. The business’s quarterly revenue was up 27.4% on a year-over-year basis. During the same period last year, the company posted $1.64 earnings per share. equities analysts predict that Teledyne Technologies Incorporated will post 7.55 EPS for the current fiscal year.
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Teledyne Technologies Profile
Teledyne Technologies Incorporated provides enabling technologies for industrial growth markets. The Company’s segments include Instrumentation, Digital Imaging, Aerospace and Defense Electronics, and Engineered Systems. Instrumentation segment provides monitoring and control instruments for marine, environmental, industrial and other applications, as well as electronic test and measurement equipment.
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