Argent Trust Co Takes Position in Teledyne Technologies Incorporated (NYSE:TDY)

Argent Trust Co acquired a new position in Teledyne Technologies Incorporated (NYSE:TDY) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 811 shares of the scientific and technical instruments company’s stock, valued at approximately $315,000.

A number of other hedge funds have also bought and sold shares of the business. Mercer Global Advisors Inc. ADV boosted its holdings in shares of Teledyne Technologies by 1.1% in the second quarter. Mercer Global Advisors Inc. ADV now owns 72,075 shares of the scientific and technical instruments company’s stock worth $27,964,000 after acquiring an additional 793 shares during the period. E Fund Management Co. Ltd. bought a new position in Teledyne Technologies in the 2nd quarter worth about $206,000. Wealth Alliance grew its holdings in Teledyne Technologies by 3.4% during the 2nd quarter. Wealth Alliance now owns 1,733 shares of the scientific and technical instruments company’s stock valued at $672,000 after buying an additional 57 shares in the last quarter. Bradley Foster & Sargent Inc. CT increased its position in shares of Teledyne Technologies by 66.8% during the second quarter. Bradley Foster & Sargent Inc. CT now owns 4,078 shares of the scientific and technical instruments company’s stock valued at $1,582,000 after buying an additional 1,633 shares during the period. Finally, Mutual of America Capital Management LLC lifted its holdings in shares of Teledyne Technologies by 1.9% in the second quarter. Mutual of America Capital Management LLC now owns 15,211 shares of the scientific and technical instruments company’s stock worth $5,902,000 after buying an additional 288 shares in the last quarter. 91.58% of the stock is currently owned by hedge funds and other institutional investors.

Teledyne Technologies Stock Down 1.0 %

Shares of TDY opened at $432.13 on Friday. The firm has a market cap of $20.47 billion, a P/E ratio of 23.37, a P/E/G ratio of 3.01 and a beta of 1.02. Teledyne Technologies Incorporated has a 1 year low of $355.41 and a 1 year high of $448.19. The stock has a 50 day simple moving average of $417.58 and a two-hundred day simple moving average of $406.46. 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 released its earnings results on Wednesday, July 24th. The scientific and technical instruments company reported $4.58 EPS for the quarter, beating the consensus estimate of $4.49 by $0.09. The company had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.36 billion. Teledyne Technologies had a net margin of 15.86% and a return on equity of 10.27%. The firm’s quarterly revenue was down 3.8% compared to the same quarter last year. During the same quarter last year, the firm earned $4.67 EPS. On average, analysts forecast that Teledyne Technologies Incorporated will post 19.43 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. StockNews.com cut shares of Teledyne Technologies from a “buy” rating to a “hold” rating in a report on Sunday, August 11th. Needham & Company LLC raised their price target on 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 began coverage on Teledyne Technologies in a report on Tuesday, July 23rd. They set a “buy” rating and a $470.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Teledyne Technologies has a consensus rating of “Moderate Buy” and an average 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.