Mercer Global Advisors Inc. ADV Acquires 793 Shares of Teledyne Technologies Incorporated (NYSE:TDY)

Mercer Global Advisors Inc. ADV grew its holdings in shares of Teledyne Technologies Incorporated (NYSE:TDY) by 1.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 72,075 shares of the scientific and technical instruments company’s stock after purchasing an additional 793 shares during the quarter. Mercer Global Advisors Inc. ADV owned about 0.15% of Teledyne Technologies worth $27,964,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of TDY. Hsbc Holdings PLC grew its stake 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 buying an additional 20,263 shares during the last quarter. Goldman Sachs Group Inc. grew 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 valued at $59,071,000 after buying an additional 34,371 shares during the last quarter. Orion Portfolio Solutions LLC grew its stake in Teledyne Technologies by 46.2% in the 1st quarter. Orion Portfolio Solutions LLC now owns 4,161 shares of the scientific and technical instruments company’s stock valued at $1,786,000 after buying an additional 1,315 shares during the last quarter. Clearbridge Investments LLC grew its stake in Teledyne Technologies by 11.2% in the 1st quarter. Clearbridge Investments LLC now owns 267,036 shares of the scientific and technical instruments company’s stock valued at $114,644,000 after buying an additional 26,793 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System grew its stake in Teledyne Technologies by 3.6% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 48,288 shares of the scientific and technical instruments company’s stock valued at $21,602,000 after buying an additional 1,665 shares during the last quarter. Institutional investors own 91.58% of the company’s stock.

Wall Street Analyst Weigh In

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

Teledyne Technologies Stock Performance

NYSE TDY opened at $426.64 on Thursday. The stock has a market cap of $19.96 billion, a P/E ratio of 23.07, a PEG ratio of 3.01 and a beta of 1.02. The company’s 50-day simple moving average is $415.96 and its 200 day simple moving average is $406.23. Teledyne Technologies Incorporated has a twelve month low of $355.41 and a twelve month high of $448.19. The company has a quick ratio of 1.28, a current ratio of 1.98 and a debt-to-equity ratio of 0.28.

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 analysts’ consensus estimates of $4.49 by $0.09. The business had revenue of $1.37 billion for the quarter, compared to analysts’ expectations of $1.36 billion. Teledyne Technologies had a net margin of 15.86% and a return on equity of 10.27%. The firm’s revenue for the quarter was down 3.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.67 earnings per share. As a group, research analysts forecast that Teledyne Technologies Incorporated will post 19.43 earnings per share for the current fiscal year.

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.