Verition Fund Management LLC Decreases Stock Position in Teledyne Technologies Incorporated (NYSE:TDY)

Verition Fund Management LLC lowered its stake in Teledyne Technologies Incorporated (NYSE:TDYGet Rating) by 3.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,791 shares of the scientific and technical instruments company’s stock after selling 153 shares during the period. Verition Fund Management LLC’s holdings in Teledyne Technologies were worth $1,792,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of TDY. Federated Hermes Inc. boosted its position in Teledyne Technologies by 7.5% during the 1st quarter. Federated Hermes Inc. now owns 431 shares of the scientific and technical instruments company’s stock valued at $204,000 after acquiring an additional 30 shares in the last quarter. Intercontinental Wealth Advisors LLC boosted its position in Teledyne Technologies by 5.1% during the 1st quarter. Intercontinental Wealth Advisors LLC now owns 704 shares of the scientific and technical instruments company’s stock valued at $333,000 after acquiring an additional 34 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its position in Teledyne Technologies by 1.0% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 3,860 shares of the scientific and technical instruments company’s stock valued at $1,824,000 after acquiring an additional 40 shares in the last quarter. CIBC Asset Management Inc boosted its position in Teledyne Technologies by 1.0% during the 1st quarter. CIBC Asset Management Inc now owns 4,312 shares of the scientific and technical instruments company’s stock valued at $2,038,000 after acquiring an additional 41 shares in the last quarter. Finally, Summit Global Investments boosted its position in Teledyne Technologies by 0.5% during the 4th quarter. Summit Global Investments now owns 9,243 shares of the scientific and technical instruments company’s stock valued at $4,038,000 after acquiring an additional 44 shares in the last quarter. Hedge funds and other institutional investors own 89.77% of the company’s stock.

Teledyne Technologies Price Performance

Shares of NYSE TDY opened at $371.36 on Monday. Teledyne Technologies Incorporated has a twelve month low of $344.66 and a twelve month high of $493.97. The firm has a market cap of $17.40 billion, a P/E ratio of 26.06, a PEG ratio of 2.44 and a beta of 1.07. The company has a 50 day moving average of $386.70 and a 200 day moving average of $408.91. The company has a quick ratio of 1.08, a current ratio of 1.67 and a debt-to-equity ratio of 0.46.

Teledyne Technologies (NYSE:TDYGet Rating) last announced its quarterly earnings data on Wednesday, July 27th. The scientific and technical instruments company reported $4.43 earnings per share for the quarter, topping analysts’ consensus estimates of $4.38 by $0.05. Teledyne Technologies had a net margin of 12.67% and a return on equity of 10.93%. The company had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.36 billion. During the same period in the previous year, the business earned $4.61 EPS. The firm’s revenue for the quarter was up 20.9% on a year-over-year basis. As a group, research analysts expect that Teledyne Technologies Incorporated will post 17.61 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on TDY shares. TheStreet raised Teledyne Technologies from a “c+” rating to a “b-” rating in a research report on Friday, August 5th. Morgan Stanley dropped their price target on Teledyne Technologies from $470.00 to $445.00 and set an “underweight” rating on the stock in a research report on Tuesday, August 16th. Finally, Needham & Company LLC dropped their price target on Teledyne Technologies from $520.00 to $472.00 and set a “buy” rating on the stock in a research report on Thursday, July 28th.

About Teledyne Technologies

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Teledyne Technologies Incorporated provides enabling technologies for industrial growth markets in the United States, Canada, the United Kingdom, Belgium, the Netherlands, and internationally. The company's Instrumentation segment offers monitoring and control instruments for marine, environmental, industrial, and other applications, as well as electronic test and measurement equipment; and power and communications connectivity devices for distributed instrumentation systems and sensor networks.

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Institutional Ownership by Quarter for Teledyne Technologies (NYSE:TDY)

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