QRG Capital Management Inc. Increases Position in Teledyne Technologies Incorporated $TDY

QRG Capital Management Inc. increased its stake in shares of Teledyne Technologies Incorporated (NYSE:TDY) by 266.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,162 shares of the scientific and technical instruments company’s stock after buying an additional 1,572 shares during the quarter. QRG Capital Management Inc.’s holdings in Teledyne Technologies were worth $1,267,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Dodge & Cox purchased a new stake in shares of Teledyne Technologies during the second quarter worth approximately $767,307,000. Norges Bank acquired a new position in Teledyne Technologies during the 2nd quarter worth approximately $317,986,000. Vanguard Group Inc. raised its stake in shares of Teledyne Technologies by 2.2% during the 2nd quarter. Vanguard Group Inc. now owns 5,841,524 shares of the scientific and technical instruments company’s stock worth $2,992,671,000 after buying an additional 123,229 shares in the last quarter. Marshall Wace LLP lifted its holdings in shares of Teledyne Technologies by 582.0% in the 2nd quarter. Marshall Wace LLP now owns 82,649 shares of the scientific and technical instruments company’s stock valued at $42,342,000 after buying an additional 70,531 shares during the period. Finally, State Street Corp grew its holdings in Teledyne Technologies by 2.2% during the second quarter. State Street Corp now owns 2,143,419 shares of the scientific and technical instruments company’s stock worth $1,098,095,000 after acquiring an additional 46,916 shares during the period. 91.58% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

TDY has been the topic of several research analyst reports. Morgan Stanley boosted their target price on shares of Teledyne Technologies from $580.00 to $620.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 15th. Barclays decreased their price objective on shares of Teledyne Technologies from $584.00 to $579.00 and set an “equal weight” rating on the stock in a report on Monday, January 12th. Citigroup increased their target price on shares of Teledyne Technologies from $567.00 to $604.00 and gave the company a “neutral” rating in a report on Tuesday, January 13th. Needham & Company LLC boosted their price target on Teledyne Technologies from $585.00 to $615.00 and gave the stock a “buy” rating in a research note on Thursday, October 23rd. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Teledyne Technologies in a report on Monday, December 29th. Six analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $605.38.

Teledyne Technologies Stock Down 2.6%

Shares of NYSE TDY opened at $566.64 on Wednesday. The firm’s 50-day moving average is $519.03 and its two-hundred day moving average is $538.33. The company has a market capitalization of $26.60 billion, a PE ratio of 32.81, a price-to-earnings-growth ratio of 2.48 and a beta of 1.03. Teledyne Technologies Incorporated has a 12-month low of $419.00 and a 12-month high of $595.99. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.79 and a quick ratio of 1.20.

Teledyne Technologies (NYSE:TDY) last issued its quarterly earnings data on Wednesday, October 22nd. The scientific and technical instruments company reported $5.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.47 by $0.10. The firm had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.53 billion. Teledyne Technologies had a return on equity of 9.95% and a net margin of 13.62%.The company’s quarterly revenue was up 6.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $5.10 EPS. Equities analysts anticipate that Teledyne Technologies Incorporated will post 21.55 EPS for the current fiscal year.

Teledyne Technologies Company Profile

Teledyne Technologies (NYSE: TDY), headquartered in Thousand Oaks, California, is a diversified industrial technology company that designs, manufactures and supports sophisticated electronic systems, instruments and imaging products. Founded in 1960 by Henry Singleton and George Kozmetsky, Teledyne has grown into a multinational provider of high-performance equipment and software for commercial, scientific and government customers. Its offerings are used in markets that include aerospace and defense, marine, industrial manufacturing, environmental monitoring and scientific research.

The company operates through businesses that develop precision instrumentation, digital imaging products, engineered systems and aerospace and defense electronics.