Coronation Fund Managers Ltd. Sells 307 Shares of Teledyne Technologies Incorporated (NYSE:TDY)

Coronation Fund Managers Ltd. lowered its position in Teledyne Technologies Incorporated (NYSE:TDY) by 11.5% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,364 shares of the scientific and technical instruments company’s stock after selling 307 shares during the period. Coronation Fund Managers Ltd.’s holdings in Teledyne Technologies were worth $917,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of TDY. Norges Bank bought a new stake in shares of Teledyne Technologies in the fourth quarter worth $243,111,000. Maren Capital LLC bought a new stake in Teledyne Technologies during the fourth quarter valued at about $82,700,000. Public Sector Pension Investment Board grew its holdings in Teledyne Technologies by 1,755.0% during the fourth quarter. Public Sector Pension Investment Board now owns 93,325 shares of the scientific and technical instruments company’s stock valued at $41,650,000 after purchasing an additional 88,294 shares during the period. Assenagon Asset Management S.A. grew its holdings in Teledyne Technologies by 235.6% during the second quarter. Assenagon Asset Management S.A. now owns 125,245 shares of the scientific and technical instruments company’s stock valued at $48,593,000 after purchasing an additional 87,925 shares during the period. Finally, Vanguard Group Inc. grew its holdings in Teledyne Technologies by 1.4% during the fourth quarter. Vanguard Group Inc. now owns 5,517,922 shares of the scientific and technical instruments company’s stock valued at $2,462,593,000 after purchasing an additional 77,890 shares during the period. Institutional investors own 91.58% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on TDY shares. Vertical Research started coverage on Teledyne Technologies in a report on Tuesday, July 23rd. They set a “buy” rating and a $470.00 price target for the company. TD Cowen dropped their price objective on Teledyne Technologies from $475.00 to $450.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. StockNews.com lowered Teledyne Technologies from a “buy” rating to a “hold” rating in a research note on Sunday, August 11th. Needham & Company LLC upped their price objective on Teledyne Technologies from $455.00 to $482.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Finally, Bank of America lowered Teledyne Technologies from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $490.00 to $400.00 in a research note on Friday, April 26th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $471.17.

Teledyne Technologies Price Performance

Shares of NYSE:TDY traded up $3.22 during mid-day trading on Friday, reaching $416.58. The stock had a trading volume of 144,169 shares, compared to its average volume of 287,127. The company has a market cap of $19.49 billion, a P/E ratio of 22.53, a price-to-earnings-growth ratio of 2.87 and a beta of 1.00. The business’s 50 day moving average price is $398.51 and its 200 day moving average price is $406.95. Teledyne Technologies Incorporated has a 1 year low of $355.41 and a 1 year high of $448.19. The company has a current ratio of 1.98, a quick ratio of 1.28 and a debt-to-equity ratio of 0.28.

Teledyne Technologies (NYSE:TDY) last announced its quarterly earnings data on Wednesday, July 24th. The scientific and technical instruments company reported $4.58 earnings per share (EPS) for the quarter, topping the consensus estimate 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 quarter in the prior year, the firm earned $4.67 earnings per share. Teledyne Technologies’s revenue was down 3.8% compared to the same quarter last year. Research analysts expect that Teledyne Technologies Incorporated will post 19.37 EPS for the current fiscal year.

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.