Edmond DE Rothschild Holding S.A. acquired a new stake in shares of Teledyne Technologies Incorporated (NYSE:TDY – Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 8,899 shares of the scientific and technical instruments company’s stock, valued at approximately $5,935,000.
Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. lifted its position in shares of Teledyne Technologies by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 5,977,792 shares of the scientific and technical instruments company’s stock worth $3,053,038,000 after purchasing an additional 66,984 shares during the last quarter. BlackRock Inc. purchased a new stake in shares of Teledyne Technologies in the 2nd quarter worth approximately $2,751,121,000. State Street Corp boosted its position in Teledyne Technologies by 2.9% during the 3rd quarter. State Street Corp now owns 2,204,554 shares of the scientific and technical instruments company’s stock valued at $1,291,957,000 after acquiring an additional 61,135 shares in the last quarter. Janus Henderson Group PLC raised its holdings in Teledyne Technologies by 0.6% in the fourth quarter. Janus Henderson Group PLC now owns 1,693,281 shares of the scientific and technical instruments company’s stock worth $864,811,000 after purchasing an additional 9,824 shares in the last quarter. Finally, Dodge & Cox raised its stake in shares of Teledyne Technologies by 0.3% during the 4th quarter. Dodge & Cox now owns 1,685,340 shares of the scientific and technical instruments company’s stock worth $860,754,000 after acquiring an additional 4,378 shares in the last quarter. 91.58% of the stock is currently owned by hedge funds and other institutional investors.
Teledyne Technologies Stock Down 2.4%
Shares of NYSE:TDY opened at $649.11 on Thursday. Teledyne Technologies Incorporated has a 52-week low of $483.02 and a 52-week high of $697.67. The stock has a market cap of $30.09 billion, a P/E ratio of 31.34, a PEG ratio of 2.89 and a beta of 0.92. The business has a fifty day moving average of $647.32 and a two-hundred day moving average of $641.47. The company has a quick ratio of 1.39, a current ratio of 2.18 and a debt-to-equity ratio of 0.19.
Insider Transactions at Teledyne Technologies
In other Teledyne Technologies news, Director Simon M. Lorne sold 6,449 shares of the firm’s stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $680.34, for a total value of $4,387,512.66. Following the completion of the transaction, the director owned 55,783 shares of the company’s stock, valued at $37,951,406.22. This trade represents a 10.36% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 1.36% of the stock is currently owned by company insiders.
Wall Street Analyst Weigh In
Several research analysts recently issued reports on TDY shares. Needham & Company LLC upped their target price on Teledyne Technologies from $735.00 to $750.00 and gave the company a “buy” rating in a research report on Thursday, July 23rd. Stifel Nicolaus boosted their target price on shares of Teledyne Technologies from $750.00 to $775.00 and gave the company a “buy” rating in a research report on Thursday, July 23rd. Barclays boosted their price target on Teledyne Technologies from $614.00 to $640.00 and gave the company an “equal weight” rating in a report on Friday, July 24th. Morgan Stanley increased their target price on shares of Teledyne Technologies from $680.00 to $715.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 13th. Finally, Zacks Research raised shares of Teledyne Technologies from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 24th. Two research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $721.67.
Read Our Latest Analysis on Teledyne Technologies
Teledyne Technologies Profile
Teledyne Technologies (NYSE: TDY), headquartered in Thousand Oaks, California, is a diversified industrial technology company that designs, manufactures and supports sophisticated electronic systems, instruments and imaging products. Founded in 1960 by Henry Singleton and George Kozmetsky, Teledyne has grown into a multinational provider of high-performance equipment and software for commercial, scientific and government customers. Its offerings are used in markets that include aerospace and defense, marine, industrial manufacturing, environmental monitoring and scientific research.
The company operates through businesses that develop precision instrumentation, digital imaging products, engineered systems and aerospace and defense electronics.
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