Massachusetts Financial Services Co. MA Lowers Position in Teledyne Technologies Incorporated (NYSE:TDY)

Massachusetts Financial Services Co. MA lessened its position in shares of Teledyne Technologies Incorporated (NYSE:TDY) by 3.3% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 24,721 shares of the scientific and technical instruments company’s stock after selling 841 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 0.05% of Teledyne Technologies worth $9,591,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Kapitalo Investimentos Ltda acquired a new stake in Teledyne Technologies in the 4th quarter valued at $29,000. American National Bank acquired a new stake in shares of Teledyne Technologies in the second quarter valued at about $28,000. Innealta Capital LLC acquired a new stake in Teledyne Technologies in the 2nd quarter worth about $28,000. Tortoise Investment Management LLC increased its stake in Teledyne Technologies by 48.0% during 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 in the last quarter. Finally, Crewe Advisors LLC raised its holdings in shares of 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 last quarter. Hedge funds and other institutional investors own 91.58% of the company’s stock.

Analyst Ratings Changes

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

Teledyne Technologies Price Performance

NYSE:TDY opened at $432.13 on Friday. The company has a market capitalization 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 52 week low of $355.41 and a 52 week high of $448.19. The stock’s fifty day moving average is $417.58 and its two-hundred day moving average is $406.35. 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 quarterly earnings data on Wednesday, July 24th. The scientific and technical instruments company reported $4.58 earnings per share for the quarter, topping analysts’ consensus estimates of $4.49 by $0.09. The firm had revenue of $1.37 billion during 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 quarterly revenue was down 3.8% on a year-over-year basis. During the same quarter last year, the company posted $4.67 EPS. Equities analysts expect that Teledyne Technologies Incorporated will post 19.43 EPS 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.