Teledyne Technologies Incorporated (TDY) Position Raised by Arrowstreet Capital Limited Partnership
Arrowstreet Capital Limited Partnership boosted its position in shares of Teledyne Technologies Incorporated (NYSE:TDY) by 18.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 68,430 shares of the scientific and technical instruments company’s stock after purchasing an additional 10,700 shares during the period. Arrowstreet Capital Limited Partnership owned approximately 0.19% of Teledyne Technologies worth $8,735,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Envestnet Asset Management Inc. boosted its stake in Teledyne Technologies by 2.5% during the 1st quarter. Envestnet Asset Management Inc. now owns 1,188 shares of the scientific and technical instruments company’s stock valued at $149,000 after acquiring an additional 29 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Teledyne Technologies by 15.4% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,325 shares of the scientific and technical instruments company’s stock valued at $169,000 after acquiring an additional 177 shares during the last quarter. ETF Managers Group LLC bought a new position in Teledyne Technologies during the 2nd quarter valued at $181,000. HighTower Advisors LLC bought a new position in Teledyne Technologies during the 1st quarter valued at $219,000. Finally, Trexquant Investment LP bought a new position in Teledyne Technologies during the 2nd quarter valued at $230,000. 82.85% of the stock is owned by institutional investors and hedge funds.
Teledyne Technologies Incorporated (TDY) opened at 162.97 on Friday. The company has a market capitalization of $5.76 billion, a P/E ratio of 30.05 and a beta of 0.99. Teledyne Technologies Incorporated has a 52-week low of $102.78 and a 52-week high of $165.87. The stock has a 50 day moving average of $156.84 and a 200-day moving average of $139.00.
Teledyne Technologies (NYSE:TDY) last issued its earnings results on Thursday, August 3rd. The scientific and technical instruments company reported $1.74 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.25 by $0.49. Teledyne Technologies had a net margin of 8.44% and a return on equity of 13.80%. The company had revenue of $671.10 million for the quarter, compared to the consensus estimate of $636.18 million. During the same quarter in the previous year, the company earned $1.32 EPS. The firm’s revenue for the quarter was up 24.3% compared to the same quarter last year. On average, equities analysts forecast that Teledyne Technologies Incorporated will post $5.69 earnings per share for the current year.
In other news, VP Melanie Susan Cibik sold 4,000 shares of the business’s stock in a transaction on Wednesday, August 9th. The shares were sold at an average price of $146.20, for a total value of $584,800.00. Following the sale, the vice president now owns 26,280 shares in the company, valued at approximately $3,842,136. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Jason Vanwees sold 6,000 shares of the business’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $147.07, for a total transaction of $882,420.00. Following the completion of the sale, the senior vice president now owns 35,159 shares in the company, valued at approximately $5,170,834.13. The disclosure for this sale can be found here. Insiders sold a total of 14,000 shares of company stock worth $2,060,420 in the last 90 days. 3.30% of the stock is owned by corporate insiders.
A number of research firms have recently issued reports on TDY. Zacks Investment Research upgraded shares of Teledyne Technologies from a “hold” rating to a “buy” rating and set a $166.00 price target on the stock in a research report on Tuesday, August 8th. BidaskClub upgraded shares of Teledyne Technologies from a “sell” rating to a “hold” rating in a research report on Saturday, July 1st. Needham & Company LLC upgraded shares of Teledyne Technologies from a “hold” rating to a “buy” rating and set a $148.00 price target on the stock in a research report on Wednesday, July 5th. ValuEngine upgraded shares of Teledyne Technologies from a “hold” rating to a “buy” rating in a research report on Friday, September 8th. Finally, Jefferies Group LLC restated a “hold” rating and issued a $140.00 price target on shares of Teledyne Technologies in a research report on Friday, July 7th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $157.67.
Teledyne Technologies Company 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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