Kingfisher Capital LLC Reduces Stake in Teledyne Technologies Incorporated (NYSE:TDY)

Kingfisher Capital LLC lessened its stake in Teledyne Technologies Incorporated (NYSE:TDY) by 0.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,893 shares of the scientific and technical instruments company’s stock after selling 34 shares during the period. Kingfisher Capital LLC’s holdings in Teledyne Technologies were worth $2,674,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of TDY. Kayne Anderson Rudnick Investment Management LLC boosted its position in Teledyne Technologies by 17.8% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,238,091 shares of the scientific and technical instruments company’s stock worth $480,355,000 after purchasing an additional 186,849 shares in the last quarter. Maren Capital LLC acquired a new position in shares of Teledyne Technologies during the 4th quarter worth approximately $82,700,000. Public Sector Pension Investment Board raised its stake in shares of Teledyne Technologies by 1,755.0% during the 4th quarter. Public Sector Pension Investment Board now owns 93,325 shares of the scientific and technical instruments company’s stock worth $41,650,000 after buying an additional 88,294 shares during the period. Assenagon Asset Management S.A. raised its stake in shares of Teledyne Technologies by 235.6% during the 2nd quarter. Assenagon Asset Management S.A. now owns 125,245 shares of the scientific and technical instruments company’s stock worth $48,593,000 after buying an additional 87,925 shares during the period. Finally, Vanguard Group Inc. raised its stake in shares of Teledyne Technologies by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 5,517,922 shares of the scientific and technical instruments company’s stock worth $2,462,593,000 after buying an additional 77,890 shares during the period. Hedge funds and other institutional investors own 91.58% of the company’s stock.

Analyst Upgrades and Downgrades

TDY has been the subject of several research analyst reports. StockNews.com downgraded Teledyne Technologies from a “buy” rating to a “hold” rating in a research note on Sunday, August 11th. Vertical Research initiated coverage on Teledyne Technologies in a research note on Tuesday, July 23rd. They set a “buy” rating and a $470.00 target price for the company. Finally, Needham & Company LLC upped their target price on Teledyne Technologies from $455.00 to $482.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Teledyne Technologies currently has an average rating of “Moderate Buy” and a consensus price target of $471.17.

Teledyne Technologies Stock Up 0.6 %

NYSE TDY opened at $435.28 on Wednesday. The business has a fifty day moving average price of $418.98 and a 200 day moving average price of $406.31. Teledyne Technologies Incorporated has a one year low of $355.41 and a one year high of $448.19. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.28 and a current ratio of 1.98. The company has a market cap of $20.36 billion, a P/E ratio of 23.54, a P/E/G ratio of 3.03 and a beta of 1.02.

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

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.