Sumitomo Mitsui DS Asset Management Company Ltd Grows Stock Position in Teledyne Technologies Incorporated (NYSE:TDY)

Sumitomo Mitsui DS Asset Management Company Ltd increased its position in shares of Teledyne Technologies Incorporated (NYSE:TDY) by 21.9% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,795 shares of the scientific and technical instruments company’s stock after purchasing an additional 1,043 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Teledyne Technologies were worth $2,248,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the company. ING Groep NV grew its holdings in shares of Teledyne Technologies by 60.1% during the fourth quarter. ING Groep NV now owns 9,460 shares of the scientific and technical instruments company’s stock worth $4,222,000 after buying an additional 3,550 shares in the last quarter. Hsbc Holdings PLC raised its holdings in Teledyne Technologies by 28.4% in the 4th quarter. Hsbc Holdings PLC now owns 91,664 shares of the scientific and technical instruments company’s stock valued at $40,905,000 after acquiring an additional 20,263 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in Teledyne Technologies by 35.1% in the 4th quarter. Goldman Sachs Group Inc. now owns 132,361 shares of the scientific and technical instruments company’s stock worth $59,071,000 after purchasing an additional 34,371 shares in the last quarter. Orion Portfolio Solutions LLC boosted its holdings in shares of Teledyne Technologies by 46.2% during the 1st quarter. Orion Portfolio Solutions LLC now owns 4,161 shares of the scientific and technical instruments company’s stock worth $1,786,000 after purchasing an additional 1,315 shares during the last quarter. Finally, BNP Paribas Financial Markets grew its position in shares of Teledyne Technologies by 69.5% in the fourth quarter. BNP Paribas Financial Markets now owns 21,931 shares of the scientific and technical instruments company’s stock valued at $9,788,000 after purchasing an additional 8,992 shares in the last quarter. 91.58% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have issued reports on TDY. StockNews.com cut Teledyne Technologies from a “buy” rating to a “hold” rating in a report on Sunday, August 11th. Needham & Company LLC upped their price objective on shares of Teledyne Technologies from $455.00 to $482.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Finally, Vertical Research started coverage on shares of Teledyne Technologies in a research note on Tuesday, July 23rd. They set a “buy” rating and a $470.00 target price on the stock. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Teledyne Technologies has a consensus rating of “Moderate Buy” and an average target price of $471.17.

Teledyne Technologies Trading Up 1.5 %

Shares of TDY stock opened at $432.80 on Friday. Teledyne Technologies Incorporated has a 1-year low of $355.41 and a 1-year high of $448.19. The firm has a market cap of $20.25 billion, a PE ratio of 23.41, a price-to-earnings-growth ratio of 2.97 and a beta of 1.00. The company has a 50-day moving average of $405.17 and a two-hundred day moving average of $406.47. 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 (NYSE:TDY) last posted its earnings results on Wednesday, July 24th. The scientific and technical instruments company reported $4.58 earnings per share for the quarter, beating the consensus estimate of $4.49 by $0.09. Teledyne Technologies had a net margin of 15.86% and a return on equity of 10.27%. The firm had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.36 billion. During the same quarter last year, the firm earned $4.67 EPS. The firm’s revenue for the quarter was down 3.8% on a year-over-year basis. On average, analysts predict that Teledyne Technologies Incorporated will post 19.4 EPS for the current year.

About Teledyne Technologies

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.