Pictet Asset Management SA increased its position in shares of Teledyne Technologies Incorporated (NYSE:TDY – Free Report) by 5.3% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 19,501 shares of the scientific and technical instruments company’s stock after purchasing an additional 989 shares during the period. Pictet Asset Management SA’s holdings in Teledyne Technologies were worth $8,724,000 as of its most recent SEC filing.
Several other large investors have also recently added to or reduced their stakes in the company. Baird Financial Group Inc. raised its holdings in Teledyne Technologies by 2.6% during the fourth quarter. Baird Financial Group Inc. now owns 944 shares of the scientific and technical instruments company’s stock worth $378,000 after purchasing an additional 24 shares in the last quarter. Texas Permanent School Fund grew its stake in shares of Teledyne Technologies by 0.4% during the 4th quarter. Texas Permanent School Fund now owns 6,659 shares of the scientific and technical instruments company’s stock worth $2,663,000 after purchasing an additional 28 shares during the period. Sequoia Financial Advisors LLC increased its holdings in shares of Teledyne Technologies by 3.3% in the 1st quarter. Sequoia Financial Advisors LLC now owns 867 shares of the scientific and technical instruments company’s stock valued at $388,000 after purchasing an additional 28 shares in the last quarter. First Manhattan Co. lifted its stake in shares of Teledyne Technologies by 0.6% in the fourth quarter. First Manhattan Co. now owns 4,466 shares of the scientific and technical instruments company’s stock valued at $1,786,000 after purchasing an additional 28 shares during the period. Finally, Gulf International Bank UK Ltd lifted its stake in shares of Teledyne Technologies by 0.4% in the fourth quarter. Gulf International Bank UK Ltd now owns 7,407 shares of the scientific and technical instruments company’s stock valued at $2,962,000 after purchasing an additional 30 shares during the period. 93.31% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several analysts recently commented on TDY shares. StockNews.com started coverage on shares of Teledyne Technologies in a research note on Thursday, August 17th. They issued a “buy” rating for the company. Needham & Company LLC cut their target price on shares of Teledyne Technologies from $470.00 to $455.00 and set a “buy” rating for the company in a research report on Thursday, July 27th. The Goldman Sachs Group upgraded shares of Teledyne Technologies from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $423.00 to $495.00 in a research report on Monday, August 14th. Credit Suisse Group cut their target price on shares of Teledyne Technologies from $503.00 to $499.00 in a research report on Friday, April 28th. Finally, Bank of America lifted their target price on shares of Teledyne Technologies from $533.00 to $565.00 in a research report on Thursday, May 25th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $500.40.
View Our Latest Research Report on TDY
Teledyne Technologies Stock Performance
Shares of NYSE TDY opened at $406.26 on Wednesday. The company has a market cap of $19.13 billion, a PE ratio of 25.26, a price-to-earnings-growth ratio of 3.33 and a beta of 1.05. Teledyne Technologies Incorporated has a 12 month low of $325.00 and a 12 month high of $448.71. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.62 and a quick ratio of 1.02. The company has a 50-day simple moving average of $400.99 and a 200-day simple moving average of $413.92.
Teledyne Technologies (NYSE:TDY – Get Free Report) last issued its quarterly earnings results on Wednesday, July 26th. The scientific and technical instruments company reported $4.67 EPS for the quarter, topping analysts’ consensus estimates of $4.63 by $0.04. The business had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.41 billion. Teledyne Technologies had a net margin of 13.75% and a return on equity of 10.90%. The company’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $4.43 earnings per share. On average, equities analysts anticipate that Teledyne Technologies Incorporated will post 19.11 earnings per share for the current year.
About Teledyne Technologies
(Free Report)
Teledyne Technologies Incorporated, together with its subsidiaries, provides enabling technologies for industrial growth markets in the United States, Canada, the United Kingdom, France, and internationally. The company’s Instrumentation segment offers monitoring and control instruments for marine, environmental, industrial, and other applications, as well as electronic test and measurement equipment; and power and communications connectivity devices for distributed instrumentation systems and sensor networks.
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