Clinton Group Inc. Acquires 7,151 Shares of Teledyne Technologies Incorporated (TDY)
Clinton Group Inc. boosted its holdings in shares of Teledyne Technologies Incorporated (NYSE:TDY) by 138.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 12,311 shares of the scientific and technical instruments company’s stock after buying an additional 7,151 shares during the quarter. Clinton Group Inc.’s holdings in Teledyne Technologies were worth $1,571,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Envestnet Asset Management Inc. increased its position in Teledyne Technologies by 2.5% in the first quarter. Envestnet Asset Management Inc. now owns 1,188 shares of the scientific and technical instruments company’s stock worth $149,000 after buying an additional 29 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Teledyne Technologies by 15.4% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,325 shares of the scientific and technical instruments company’s stock worth $169,000 after buying an additional 177 shares during the period. HighTower Advisors LLC bought a new position in shares of Teledyne Technologies in the first quarter worth about $219,000. Trexquant Investment LP bought a new position in shares of Teledyne Technologies in the second quarter worth about $230,000. Finally, World Asset Management Inc lifted its position in shares of Teledyne Technologies by 2.8% during the 2nd quarter. World Asset Management Inc now owns 2,199 shares of the scientific and technical instruments company’s stock valued at $281,000 after buying an additional 59 shares in the last quarter. Institutional investors own 82.85% of the company’s stock.
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A number of brokerages recently issued reports on TDY. BidaskClub upgraded Teledyne Technologies from a “sell” rating to a “hold” rating in a research note on Tuesday, June 20th. Zacks Investment Research upgraded shares of Teledyne Technologies from a “hold” rating to a “buy” rating and set a $145.00 target price on the stock in a research note on Thursday, June 8th. Jefferies Group LLC restated a “hold” rating and set a $150.00 target price (up previously from $145.00) on shares of Teledyne Technologies in a research note on Wednesday, August 9th. Needham & Company LLC raised shares of Teledyne Technologies from a “hold” rating to a “buy” rating and set a $148.00 price target on the stock in a report on Wednesday, July 5th. Finally, ValuEngine raised shares of Teledyne Technologies from a “hold” rating to a “buy” rating in a report on Friday, September 8th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $157.67.
In other news, VP Melanie Susan Cibik sold 4,000 shares of the stock in a transaction dated Wednesday, August 9th. The shares were sold at an average price of $146.20, for a total transaction of $584,800.00. Following the sale, the vice president now directly owns 26,280 shares of the company’s stock, valued at approximately $3,842,136. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Jason Vanwees sold 6,000 shares of the stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $147.07, for a total transaction of $882,420.00. Following the sale, the senior vice president now directly owns 35,159 shares in the company, valued at $5,170,834.13. The disclosure for this sale can be found here. Insiders sold 14,000 shares of company stock valued at $2,060,420 in the last ninety days. 3.30% of the stock is owned by corporate insiders.
Shares of Teledyne Technologies Incorporated (TDY) opened at 161.77 on Wednesday. The company has a market capitalization of $5.72 billion, a PE ratio of 29.82 and a beta of 0.99. The firm’s 50-day moving average price is $152.65 and its 200-day moving average price is $137.00. Teledyne Technologies Incorporated has a 12-month low of $101.90 and a 12-month high of $163.29.
Teledyne Technologies (NYSE:TDY) last announced its quarterly earnings results on Thursday, August 3rd. The scientific and technical instruments company reported $1.74 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.25 by $0.49. The firm had revenue of $671.10 million for the quarter, compared to the consensus estimate of $636.18 million. Teledyne Technologies had a net margin of 8.44% and a return on equity of 13.80%. The firm’s quarterly revenue was up 24.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.32 earnings per share. On average, analysts expect that Teledyne Technologies Incorporated will post $5.69 EPS for the current fiscal year.
About Teledyne Technologies
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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