Goldman Sachs Group Inc. Buys 34,371 Shares of Teledyne Technologies Incorporated (NYSE:TDY)

Goldman Sachs Group Inc. grew its position in shares of Teledyne Technologies Incorporated (NYSE:TDY) by 35.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 132,361 shares of the scientific and technical instruments company’s stock after purchasing an additional 34,371 shares during the period. Goldman Sachs Group Inc. owned approximately 0.28% of Teledyne Technologies worth $59,071,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in TDY. First Citizens Bank & Trust Co. bought a new stake in Teledyne Technologies in the 4th quarter worth approximately $2,325,000. ING Groep NV raised its stake in Teledyne Technologies by 60.1% during the fourth quarter. ING Groep NV now owns 9,460 shares of the scientific and technical instruments company’s stock valued at $4,222,000 after purchasing an additional 3,550 shares in the last quarter. Grandfield & Dodd LLC lifted its position in Teledyne Technologies by 11.2% during the fourth quarter. Grandfield & Dodd LLC now owns 30,894 shares of the scientific and technical instruments company’s stock valued at $13,788,000 after purchasing an additional 3,111 shares during the last quarter. Hsbc Holdings PLC grew its stake in shares of Teledyne Technologies by 28.4% in the 4th quarter. Hsbc Holdings PLC now owns 91,664 shares of the scientific and technical instruments company’s stock worth $40,905,000 after buying an additional 20,263 shares in the last quarter. Finally, BNP Paribas Financial Markets increased its holdings in shares of Teledyne Technologies by 69.5% in the 4th quarter. BNP Paribas Financial Markets now owns 21,931 shares of the scientific and technical instruments company’s stock worth $9,788,000 after buying an additional 8,992 shares during the last quarter. 91.58% of the stock is currently owned by hedge funds and other institutional investors.

Teledyne Technologies Price Performance

TDY opened at $386.37 on Wednesday. The business has a fifty day moving average of $394.25 and a 200 day moving average of $415.76. The stock has a market cap of $18.31 billion, a P/E ratio of 20.90, a PEG ratio of 2.74 and a beta of 1.04. The company has a quick ratio of 1.29, a current ratio of 1.81 and a debt-to-equity ratio of 0.28. Teledyne Technologies Incorporated has a 52-week low of $355.41 and a 52-week high of $448.19.

Teledyne Technologies (NYSE:TDY) last issued its earnings results on Wednesday, April 24th. The scientific and technical instruments company reported $4.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.63 by ($0.08). The company had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.39 billion. Teledyne Technologies had a net margin of 15.81% and a return on equity of 10.54%. The firm’s revenue for the quarter was down 2.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $4.53 earnings per share. As a group, sell-side analysts anticipate that Teledyne Technologies Incorporated will post 19.36 EPS for the current year.

Analyst Upgrades and Downgrades

TDY has been the subject of several recent research reports. Needham & Company LLC dropped their price target on Teledyne Technologies from $510.00 to $455.00 and set a “buy” rating for the company in a research report on Thursday, April 25th. Bank of America lowered Teledyne Technologies from a “buy” rating to a “neutral” rating and decreased their price target for the company from $490.00 to $400.00 in a report on Friday, April 26th. StockNews.com downgraded Teledyne Technologies from a “buy” rating to a “hold” rating in a research report on Thursday, April 25th. Finally, TD Cowen reduced their target price on shares of Teledyne Technologies from $475.00 to $450.00 and set a “buy” rating on the stock in a research note on Thursday, April 25th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Teledyne Technologies currently has a consensus rating of “Moderate Buy” and a consensus price target of $470.83.

Teledyne Technologies Company 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.