Teledyne Technologies Incorporated (NYSE:TDY) Stock Position Raised by Hsbc Holdings PLC

Hsbc Holdings PLC raised its position in shares of Teledyne Technologies Incorporated (NYSE:TDY) by 4.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 109,881 shares of the scientific and technical instruments company’s stock after purchasing an additional 4,389 shares during the quarter. Hsbc Holdings PLC’s holdings in Teledyne Technologies were worth $42,605,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in TDY. American National Bank purchased a new position in shares of Teledyne Technologies during the second quarter valued at $28,000. Innealta Capital LLC acquired a new stake in Teledyne Technologies during the 2nd quarter worth about $28,000. Kapitalo Investimentos Ltda purchased a new position in Teledyne Technologies during the 4th quarter valued at about $29,000. Tortoise Investment Management LLC increased its holdings in shares of Teledyne Technologies by 48.0% in the 2nd quarter. Tortoise Investment Management LLC now owns 74 shares of the scientific and technical instruments company’s stock valued at $29,000 after purchasing an additional 24 shares during the period. Finally, Crewe Advisors LLC lifted its position in shares of Teledyne Technologies by 319.0% in the second quarter. Crewe Advisors LLC now owns 88 shares of the scientific and technical instruments company’s stock worth $34,000 after purchasing an additional 67 shares in the last quarter. 91.58% of the stock is owned by institutional investors and hedge funds.

Teledyne Technologies Stock Down 1.0 %

Teledyne Technologies stock opened at $432.13 on Friday. The company has a current ratio of 1.98, a quick ratio of 1.28 and a debt-to-equity ratio of 0.28. Teledyne Technologies Incorporated has a 1-year low of $355.41 and a 1-year high of $448.19. The firm’s fifty day simple moving average is $417.58 and its 200-day simple moving average is $406.46. The company has a market capitalization of $20.47 billion, a P/E ratio of 23.37, a P/E/G ratio of 3.01 and a beta of 1.02.

Teledyne Technologies (NYSE:TDY) last posted its earnings results on Wednesday, July 24th. The scientific and technical instruments company reported $4.58 earnings per share for the quarter, beating the consensus estimate of $4.49 by $0.09. The company had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.36 billion. Teledyne Technologies had a return on equity of 10.27% and a net margin of 15.86%. The business’s revenue was down 3.8% compared to the same quarter last year. During the same period last year, the company earned $4.67 earnings per share. Sell-side analysts forecast that Teledyne Technologies Incorporated will post 19.43 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. StockNews.com lowered shares of Teledyne Technologies from a “buy” rating to a “hold” rating in a research note on Sunday, August 11th. Needham & Company LLC upped their price target on shares of Teledyne Technologies from $455.00 to $482.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Finally, Vertical Research initiated coverage on Teledyne Technologies in a research report on Tuesday, July 23rd. They set a “buy” rating and a $470.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $471.17.

About Teledyne Technologies

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.