Distillate Capital Partners LLC Takes $14.53 Million Position in Teledyne Technologies Incorporated (NYSE:TDY)

Distillate Capital Partners LLC purchased a new stake in Teledyne Technologies Incorporated (NYSE:TDY) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor purchased 37,449 shares of the scientific and technical instruments company’s stock, valued at approximately $14,529,000. Distillate Capital Partners LLC owned approximately 0.08% of Teledyne Technologies at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. American National Bank bought a new position in shares of Teledyne Technologies during the second quarter worth about $28,000. Innealta Capital LLC bought a new stake in shares of Teledyne Technologies in the 2nd quarter valued at approximately $28,000. Kapitalo Investimentos Ltda bought a new position in Teledyne Technologies during the fourth quarter worth $29,000. Tortoise Investment Management LLC lifted its position in shares of 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 buying an additional 24 shares during the last quarter. Finally, Crewe Advisors LLC grew its stake in Teledyne Technologies by 319.0% during the 2nd quarter. Crewe Advisors LLC now owns 88 shares of the scientific and technical instruments company’s stock worth $34,000 after buying an additional 67 shares during the last quarter. 91.58% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Teledyne Technologies Trading Up 0.1 %

NYSE:TDY opened at $432.59 on Tuesday. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.98 and a quick ratio of 1.28. The stock has a market cap of $20.50 billion, a PE ratio of 23.40, a price-to-earnings-growth ratio of 3.01 and a beta of 1.02. The stock’s 50-day moving average is $418.34 and its two-hundred day moving average is $406.24. Teledyne Technologies Incorporated has a fifty-two week low of $355.41 and a fifty-two week high of $448.19.

Teledyne Technologies (NYSE:TDY) last released its quarterly earnings data on Wednesday, July 24th. The scientific and technical instruments company reported $4.58 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 the consensus estimate of $1.36 billion. Teledyne Technologies had a return on equity of 10.27% and a net margin of 15.86%. The firm’s revenue was down 3.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $4.67 earnings per share. As a group, equities 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.