Pacer Advisors Inc. reduced its stake in Teledyne Technologies Incorporated (NYSE:TDY – Free Report) by 53.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,605 shares of the scientific and technical instruments company’s stock after selling 3,034 shares during the period. Pacer Advisors Inc.’s holdings in Teledyne Technologies were worth $1,576,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also made changes to their positions in the company. Jones Financial Companies Lllp boosted its stake in Teledyne Technologies by 874.5% during the 1st quarter. Jones Financial Companies Lllp now owns 1,949 shares of the scientific and technical instruments company’s stock valued at $970,000 after purchasing an additional 1,749 shares in the last quarter. Empowered Funds LLC raised its stake in shares of Teledyne Technologies by 78.6% in the 1st quarter. Empowered Funds LLC now owns 1,552 shares of the scientific and technical instruments company’s stock worth $772,000 after buying an additional 683 shares in the last quarter. Focus Partners Wealth lifted its holdings in shares of Teledyne Technologies by 48.4% in the first quarter. Focus Partners Wealth now owns 834 shares of the scientific and technical instruments company’s stock valued at $416,000 after buying an additional 272 shares during the period. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Teledyne Technologies in the second quarter valued at $5,590,000. Finally, Cresset Asset Management LLC boosted its stake in Teledyne Technologies by 2.5% during the second quarter. Cresset Asset Management LLC now owns 830 shares of the scientific and technical instruments company’s stock valued at $425,000 after buying an additional 20 shares in the last quarter. Institutional investors and hedge funds own 91.58% of the company’s stock.
Teledyne Technologies Trading Up 0.5%
NYSE:TDY opened at $691.00 on Friday. The stock has a fifty day simple moving average of $637.26 and a 200 day simple moving average of $637.45. The firm has a market capitalization of $32.03 billion, a price-to-earnings ratio of 33.37, a price-to-earnings-growth ratio of 3.01 and a beta of 0.92. Teledyne Technologies Incorporated has a 1-year low of $483.02 and a 1-year high of $694.91. The company has a quick ratio of 1.39, a current ratio of 2.18 and a debt-to-equity ratio of 0.19.
Wall Street Analyst Weigh In
Several brokerages have commented on TDY. Weiss Ratings reiterated a “buy (b)” rating on shares of Teledyne Technologies in a research report on Friday, May 22nd. Citigroup raised their price objective on shares of Teledyne Technologies from $677.00 to $680.00 and gave the company a “neutral” rating in a research report on Wednesday, July 1st. Barclays boosted their target price on shares of Teledyne Technologies from $614.00 to $640.00 and gave the stock an “equal weight” rating in a report on Friday, July 24th. Jefferies Financial Group upgraded shares of Teledyne Technologies to a “strong-buy” rating in a report on Wednesday, June 10th. Finally, Stifel Nicolaus lifted their price target on shares of Teledyne Technologies from $750.00 to $775.00 and gave the stock a “buy” rating in a research report on Thursday, July 23rd. Two research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Teledyne Technologies has an average rating of “Moderate Buy” and a consensus target price of $715.83.
Check Out Our Latest Research Report on TDY
Teledyne Technologies 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.
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