Millennium Management LLC Grows Position in Teledyne Technologies Incorporated (NYSE:TDY)

Millennium Management LLC lifted its holdings in shares of Teledyne Technologies Incorporated (NYSE:TDY) by 88.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 127,752 shares of the scientific and technical instruments company’s stock after purchasing an additional 59,942 shares during the quarter. Millennium Management LLC owned 0.27% of Teledyne Technologies worth $49,565,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. TD Asset Management Inc lifted its stake in Teledyne Technologies by 3.8% during the fourth quarter. TD Asset Management Inc now owns 27,242 shares of the scientific and technical instruments company’s stock worth $12,158,000 after purchasing an additional 1,000 shares during the last quarter. Stifel Financial Corp boosted its stake in shares of Teledyne Technologies by 7.1% during the fourth quarter. Stifel Financial Corp now owns 35,250 shares of the scientific and technical instruments company’s stock valued at $15,732,000 after purchasing an additional 2,322 shares during the period. Bank of Nova Scotia boosted its position in Teledyne Technologies by 25.8% during the 4th quarter. Bank of Nova Scotia now owns 6,835 shares of the scientific and technical instruments company’s stock valued at $3,050,000 after buying an additional 1,401 shares during the period. California State Teachers Retirement System boosted its holdings in shares of Teledyne Technologies by 2.7% during the fourth quarter. California State Teachers Retirement System now owns 74,648 shares of the scientific and technical instruments company’s stock worth $33,315,000 after purchasing an additional 1,957 shares during the period. Finally, KBC Group NV grew its position in shares of Teledyne Technologies by 7.8% in the 4th quarter. KBC Group NV now owns 10,068 shares of the scientific and technical instruments company’s stock worth $4,493,000 after buying an additional 729 shares during the last quarter. Hedge funds and other institutional investors own 91.58% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on TDY shares. StockNews.com cut shares of Teledyne Technologies from a “buy” rating to a “hold” rating in a research report on Sunday, August 11th. Vertical Research started coverage on Teledyne Technologies in a report on Tuesday, July 23rd. They set a “buy” rating and a $470.00 target price on the stock. Finally, Needham & Company LLC lifted their price target on Teledyne Technologies from $455.00 to $482.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $466.40.

Teledyne Technologies Trading Up 0.4 %

Shares of NYSE:TDY opened at $437.66 on Tuesday. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.98 and a quick ratio of 1.28. Teledyne Technologies Incorporated has a 1 year low of $355.41 and a 1 year high of $448.19. The company has a market cap of $20.47 billion, a P/E ratio of 23.67, a PEG ratio of 3.05 and a beta of 1.02. The stock’s fifty day moving average price is $421.20 and its 200-day moving average price is $406.55.

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