Teledyne Technologies Incorporated (NYSE:TDY) Stock Position Reduced by King Luther Capital Management Corp

King Luther Capital Management Corp decreased its holdings in shares of Teledyne Technologies Incorporated (NYSE:TDY) by 2.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 580,733 shares of the scientific and technical instruments company’s stock after selling 15,943 shares during the quarter. Teledyne Technologies makes up about 1.0% of King Luther Capital Management Corp’s holdings, making the stock its 26th biggest position. King Luther Capital Management Corp owned approximately 1.24% of Teledyne Technologies worth $225,313,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Kapitalo Investimentos Ltda acquired a new stake in Teledyne Technologies in the 4th quarter worth approximately $29,000. American National Bank bought a new stake in shares of Teledyne Technologies during the 2nd quarter worth $28,000. Innealta Capital LLC bought a new position in Teledyne Technologies in the 2nd quarter worth $28,000. Tortoise Investment Management LLC raised its holdings in Teledyne Technologies by 48.0% in the 2nd quarter. Tortoise Investment Management LLC now owns 74 shares of the scientific and technical instruments company’s stock worth $29,000 after acquiring an additional 24 shares during the period. Finally, Crewe Advisors LLC boosted its holdings in Teledyne Technologies by 319.0% during the second quarter. Crewe Advisors LLC now owns 88 shares of the scientific and technical instruments company’s stock valued at $34,000 after acquiring an additional 67 shares during the period. Institutional investors own 91.58% of the company’s stock.

Teledyne Technologies Stock Performance

Shares of NYSE:TDY opened at $436.88 on Friday. Teledyne Technologies Incorporated has a twelve month low of $355.41 and a twelve month high of $448.19. The business has a fifty day moving average of $416.82 and a 200-day moving average of $406.44. The firm has a market cap of $20.44 billion, a PE ratio of 23.63, a price-to-earnings-growth ratio of 3.01 and a beta of 1.02. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.28 and a current ratio of 1.98.

Teledyne Technologies (NYSE:TDY) last issued its earnings results on Wednesday, July 24th. The scientific and technical instruments company reported $4.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.49 by $0.09. The firm had revenue of $1.37 billion for the quarter, compared to analysts’ expectations of $1.36 billion. Teledyne Technologies had a return on equity of 10.27% and a net margin of 15.86%. The company’s revenue was down 3.8% compared to the same quarter last year. During the same quarter last year, the business earned $4.67 earnings per share. On average, equities research analysts predict that Teledyne Technologies Incorporated will post 19.43 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Needham & Company LLC boosted their target price 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. Vertical Research assumed coverage on Teledyne Technologies in a research note on Tuesday, July 23rd. They set a “buy” rating and a $470.00 price target on the stock. Finally, StockNews.com lowered Teledyne Technologies from a “buy” rating to a “hold” rating in a report on Sunday, August 11th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $471.17.

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.