Kayne Anderson Rudnick Investment Management LLC Raises Stock Position in Teledyne Technologies Incorporated (NYSE:TDY)

Kayne Anderson Rudnick Investment Management LLC lifted its holdings in shares of Teledyne Technologies Incorporated (NYSE:TDY) by 17.8% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,238,091 shares of the scientific and technical instruments company’s stock after acquiring an additional 186,849 shares during the quarter. Teledyne Technologies comprises approximately 1.2% of Kayne Anderson Rudnick Investment Management LLC’s holdings, making the stock its 24th biggest holding. Kayne Anderson Rudnick Investment Management LLC owned approximately 2.65% of Teledyne Technologies worth $480,355,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position in shares of Teledyne Technologies by 0.3% in the first quarter. Vanguard Group Inc. now owns 5,534,111 shares of the scientific and technical instruments company’s stock worth $2,375,905,000 after buying an additional 16,189 shares during the period. Janus Henderson Group PLC lifted its position in Teledyne Technologies by 3.2% during the 1st quarter. Janus Henderson Group PLC now owns 1,574,679 shares of the scientific and technical instruments company’s stock worth $676,041,000 after acquiring an additional 48,397 shares in the last quarter. Northern Trust Corp boosted its holdings in Teledyne Technologies by 1.9% in the 4th quarter. Northern Trust Corp now owns 519,334 shares of the scientific and technical instruments company’s stock worth $231,774,000 after acquiring an additional 9,455 shares during the period. Earnest Partners LLC grew its holdings in Teledyne Technologies by 5.9% during the 1st quarter. Earnest Partners LLC now owns 385,066 shares of the scientific and technical instruments company’s stock valued at $165,317,000 after purchasing an additional 21,547 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in Teledyne Technologies by 9.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 375,265 shares of the scientific and technical instruments company’s stock valued at $145,594,000 after buying an additional 32,339 shares during the last quarter. 91.58% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts recently commented on TDY shares. Needham & Company LLC increased 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. StockNews.com cut shares of Teledyne Technologies from a “buy” rating to a “hold” rating in a report on Sunday, August 11th. Finally, Vertical Research initiated coverage on shares of Teledyne Technologies in a research report on Tuesday, July 23rd. They issued a “buy” rating and a $470.00 target price for the company. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $471.17.

Teledyne Technologies Price Performance

TDY opened at $432.13 on Friday. The firm has a market cap of $20.47 billion, a price-to-earnings ratio of 23.37, a price-to-earnings-growth ratio of 3.01 and a beta of 1.02. The company’s 50-day moving average price is $417.58 and its 200 day moving average price is $406.46. Teledyne Technologies Incorporated has a fifty-two week low of $355.41 and a fifty-two week 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 released its quarterly 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. Teledyne Technologies had a return on equity of 10.27% and a net margin of 15.86%. The company had revenue of $1.37 billion for the quarter, compared to analysts’ expectations of $1.36 billion. During the same quarter in the previous year, the company posted $4.67 earnings per share. The business’s revenue for the quarter was down 3.8% compared to the same quarter last year. As a group, sell-side analysts expect that Teledyne Technologies Incorporated will post 19.43 earnings per share for the current year.

Teledyne Technologies Company 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.