DNB Asset Management AS Buys 377 Shares of Teledyne Technologies Incorporated (NYSE:TDY)

DNB Asset Management AS raised its holdings in shares of Teledyne Technologies Incorporated (NYSE:TDY) by 5.3% during the 2nd quarter, Holdings Channel.com reports. The firm owned 7,538 shares of the scientific and technical instruments company’s stock after acquiring an additional 377 shares during the quarter. DNB Asset Management AS’s holdings in Teledyne Technologies were worth $2,925,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Norden Group LLC increased its holdings in Teledyne Technologies by 1.2% during the 4th quarter. Norden Group LLC now owns 2,149 shares of the scientific and technical instruments company’s stock worth $959,000 after acquiring an additional 25 shares during the period. Weik Capital Management lifted its stake in shares of Teledyne Technologies by 0.5% in the 4th quarter. Weik Capital Management now owns 5,390 shares of the scientific and technical instruments company’s stock valued at $2,406,000 after acquiring an additional 25 shares during the last quarter. Van ECK Associates Corp boosted its holdings in Teledyne Technologies by 23.1% during the 4th quarter. Van ECK Associates Corp now owns 181 shares of the scientific and technical instruments company’s stock valued at $81,000 after acquiring an additional 34 shares during the period. Massmutual Trust Co. FSB ADV grew its position in Teledyne Technologies by 32.1% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 140 shares of the scientific and technical instruments company’s stock worth $54,000 after acquiring an additional 34 shares during the last quarter. Finally, Czech National Bank increased its stake in shares of Teledyne Technologies by 0.5% in the first quarter. Czech National Bank now owns 8,302 shares of the scientific and technical instruments company’s stock worth $3,564,000 after buying an additional 38 shares during the period. 91.58% of the stock is owned by institutional investors.

Teledyne Technologies Price Performance

Shares of TDY stock traded up $6.32 on Tuesday, hitting $406.05. 340,225 shares of the stock traded hands, compared to its average volume of 254,933. 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 52 week low of $355.41 and a 52 week high of $448.19. The firm has a 50 day simple moving average of $395.60 and a two-hundred day simple moving average of $408.13. The firm has a market cap of $19.24 billion, a price-to-earnings ratio of 22.14, a PEG ratio of 2.89 and a beta of 1.00.

Teledyne Technologies (NYSE:TDY) last posted its quarterly earnings results on Wednesday, July 24th. The scientific and technical instruments company reported $4.58 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 company had revenue of $1.37 billion for the quarter, compared to analysts’ expectations of $1.36 billion. During the same period in the previous year, the firm earned $4.67 EPS. The firm’s revenue was down 3.8% compared to the same quarter last year. As a group, equities research analysts predict that Teledyne Technologies Incorporated will post 19.37 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. TD Cowen decreased their price objective on shares of Teledyne Technologies from $475.00 to $450.00 and set a “buy” rating for the company in a report on Thursday, April 25th. Needham & Company LLC upped their price target on Teledyne Technologies from $455.00 to $482.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. StockNews.com raised shares of Teledyne Technologies from a “hold” rating to a “buy” rating in a report on Saturday. Bank of America lowered shares of Teledyne Technologies from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $490.00 to $400.00 in a report on Friday, April 26th. Finally, 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 on the stock. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, Teledyne Technologies currently has an average rating of “Moderate Buy” and a consensus price target of $474.57.

Teledyne Technologies 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.