Longboard Asset Management LP Purchases New Position in Teledyne Technologies Incorporated (NYSE:TDY)

Longboard Asset Management LP purchased a new stake in shares of Teledyne Technologies Incorporated (NYSE:TDY) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 425 shares of the scientific and technical instruments company’s stock, valued at approximately $212,000.

Several other institutional investors have also recently added to or reduced their stakes in the company. Ironwood Investment Management LLC lifted its holdings in Teledyne Technologies by 0.8% during the 4th quarter. Ironwood Investment Management LLC now owns 2,876 shares of the scientific and technical instruments company’s stock valued at $1,335,000 after purchasing an additional 22 shares during the last quarter. Tidal Investments LLC boosted its position in Teledyne Technologies by 0.4% in the 4th quarter. Tidal Investments LLC now owns 5,508 shares of the scientific and technical instruments company’s stock valued at $2,556,000 after buying an additional 22 shares during the last quarter. Keel Point LLC boosted its position in Teledyne Technologies by 4.5% in the 4th quarter. Keel Point LLC now owns 532 shares of the scientific and technical instruments company’s stock valued at $247,000 after buying an additional 23 shares during the last quarter. New York Life Investment Management LLC boosted its position in Teledyne Technologies by 0.4% in the 4th quarter. New York Life Investment Management LLC now owns 6,214 shares of the scientific and technical instruments company’s stock valued at $2,884,000 after buying an additional 25 shares during the last quarter. Finally, Sagespring Wealth Partners LLC boosted its position in Teledyne Technologies by 3.9% in the 1st quarter. Sagespring Wealth Partners LLC now owns 663 shares of the scientific and technical instruments company’s stock valued at $330,000 after buying an additional 25 shares during the last quarter. 91.58% of the stock is owned by institutional investors.

Teledyne Technologies Price Performance

Shares of NYSE TDY opened at $486.24 on Monday. Teledyne Technologies Incorporated has a fifty-two week low of $380.63 and a fifty-two week high of $522.50. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.19 and a quick ratio of 1.44. The stock has a market capitalization of $22.79 billion, a price-to-earnings ratio of 27.79, a PEG ratio of 2.30 and a beta of 1.04. The business has a 50-day moving average of $483.30 and a 200-day moving average of $484.52.

Teledyne Technologies (NYSE:TDY) last issued its quarterly earnings data on Wednesday, April 23rd. The scientific and technical instruments company reported $4.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.92 by $0.03. The firm had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.44 billion. Teledyne Technologies had a net margin of 14.37% and a return on equity of 9.95%. The business’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same period last year, the business posted $4.55 earnings per share. As a group, sell-side analysts predict that Teledyne Technologies Incorporated will post 21.55 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on TDY. Bank of America raised their price objective on Teledyne Technologies from $550.00 to $600.00 and gave the stock a “buy” rating in a research note on Monday, March 17th. Needham & Company LLC dropped their price objective on Teledyne Technologies from $585.00 to $550.00 and set a “buy” rating on the stock in a research note on Thursday, April 24th. TD Securities reaffirmed a “buy” rating and set a $550.00 price objective on shares of Teledyne Technologies in a research note on Thursday, April 24th. Finally, Wall Street Zen raised Teledyne Technologies from a “hold” rating to a “buy” rating in a research note on Friday, May 9th. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Teledyne Technologies has an average rating of “Buy” and a consensus price target of $542.50.

Teledyne Technologies Profile

Teledyne Technologies Incorporated, together with its subsidiaries, provides enabling technologies for industrial growth markets in the United States and internationally. Its Digital Imaging segment provides visible spectrum sensors and digital cameras; and infrared, ultraviolet, visible, and X-ray spectra; as well as micro electromechanical systems and semiconductors, including analog-to-digital and digital-to-analog converters.