Summit Global Investments Has $385,000 Stake in Teledyne Technologies Incorporated (NYSE:TDY)

Summit Global Investments lowered its stake in Teledyne Technologies Incorporated (NYSE:TDY) by 21.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 863 shares of the scientific and technical instruments company’s stock after selling 232 shares during the period. Summit Global Investments’ holdings in Teledyne Technologies were worth $385,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in shares of Teledyne Technologies by 0.3% in the 3rd quarter. Vanguard Group Inc. now owns 5,440,032 shares of the scientific and technical instruments company’s stock valued at $2,222,688,000 after buying an additional 13,645 shares during the period. Aristotle Capital Management LLC acquired a new stake in Teledyne Technologies in the third quarter worth about $698,325,000. Kayne Anderson Rudnick Investment Management LLC raised its holdings in Teledyne Technologies by 26.3% during the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 929,995 shares of the scientific and technical instruments company’s stock worth $379,977,000 after purchasing an additional 193,544 shares during the last quarter. JPMorgan Chase & Co. lifted its position in Teledyne Technologies by 19.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 922,621 shares of the scientific and technical instruments company’s stock valued at $376,965,000 after purchasing an additional 151,659 shares during the period. Finally, Northern Trust Corp boosted its stake in shares of Teledyne Technologies by 8.0% in the 3rd quarter. Northern Trust Corp now owns 509,879 shares of the scientific and technical instruments company’s stock valued at $208,326,000 after purchasing an additional 37,720 shares during the last quarter. Institutional investors own 91.58% of the company’s stock.

Insider Activity

In other Teledyne Technologies news, Director Simon M. Lorne sold 2,200 shares of Teledyne Technologies stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $426.70, for a total value of $938,740.00. Following the sale, the director now owns 67,288 shares of the company’s stock, valued at approximately $28,711,789.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.88% of the company’s stock.

Teledyne Technologies Price Performance

TDY opened at $385.34 on Monday. The company has a fifty day simple moving average of $411.71 and a 200 day simple moving average of $413.65. The company has a quick ratio of 1.29, a current ratio of 1.81 and a debt-to-equity ratio of 0.28. The stock has a market cap of $18.26 billion, a P/E ratio of 20.84, a P/E/G ratio of 2.66 and a beta of 1.04. Teledyne Technologies Incorporated has a 12 month low of $355.41 and a 12 month high of $448.19.

Teledyne Technologies (NYSE:TDY) last released its quarterly earnings results on Wednesday, April 24th. The scientific and technical instruments company reported $4.55 EPS for the quarter, missing analysts’ consensus estimates of $4.63 by ($0.08). Teledyne Technologies had a return on equity of 10.54% and a net margin of 15.81%. The business had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.39 billion. During the same period in the prior year, the business earned $4.53 EPS. The company’s revenue for the quarter was down 2.4% compared to the same quarter last year. On average, research analysts expect that Teledyne Technologies Incorporated will post 19.34 EPS for the current year.

Analyst Ratings Changes

Several brokerages recently weighed in on TDY. Bank of America lowered shares of Teledyne Technologies from a “buy” rating to a “neutral” rating and cut their price objective for the company from $490.00 to $400.00 in a report on Friday, April 26th. TD Cowen cut their price target on Teledyne Technologies from $475.00 to $450.00 and set a “buy” rating on the stock in a research note on Thursday, April 25th. StockNews.com cut Teledyne Technologies from a “buy” rating to a “hold” rating in a research note on Thursday, April 25th. Finally, Needham & Company LLC cut their target price on Teledyne Technologies from $510.00 to $455.00 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 assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price 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.