Seven Eight Capital LP Makes New Investment in Teledyne Technologies Incorporated (NYSE:TDY)

Seven Eight Capital LP bought a new stake in Teledyne Technologies Incorporated (NYSE:TDY) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 929 shares of the scientific and technical instruments company’s stock, valued at approximately $360,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Private Advisor Group LLC bought a new stake in Teledyne Technologies during the 4th quarter worth about $214,000. UBS Group AG raised its stake in shares of Teledyne Technologies by 264.5% during the fourth quarter. UBS Group AG now owns 58,834 shares of the scientific and technical instruments company’s stock worth $26,257,000 after buying an additional 42,691 shares during the last quarter. Coldstream Capital Management Inc. acquired a new position in Teledyne Technologies in the fourth quarter valued at approximately $239,000. Corient Private Wealth LLC boosted its stake in Teledyne Technologies by 5.3% in the fourth quarter. Corient Private Wealth LLC now owns 4,209 shares of the scientific and technical instruments company’s stock valued at $1,878,000 after acquiring an additional 210 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. grew its holdings in Teledyne Technologies by 3.9% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 12,497 shares of the scientific and technical instruments company’s stock worth $5,577,000 after acquiring an additional 468 shares during the period. Institutional investors own 91.58% of the company’s stock.

Teledyne Technologies Stock Performance

TDY stock opened at $432.13 on Monday. Teledyne Technologies Incorporated has a 1-year low of $355.41 and a 1-year high of $448.19. The company has a current ratio of 1.98, a quick ratio of 1.28 and a debt-to-equity ratio of 0.28. The firm has a market cap of $20.47 billion, a PE ratio of 23.37, a P/E/G ratio of 3.01 and a beta of 1.02. The business’s 50-day moving average price is $417.58 and its two-hundred day moving average price is $406.21.

Teledyne Technologies (NYSE:TDY) last released its quarterly earnings data on Wednesday, July 24th. The scientific and technical instruments company reported $4.58 earnings per share for the quarter, beating the consensus estimate of $4.49 by $0.09. Teledyne Technologies had a return on equity of 10.27% and a net margin of 15.86%. The business 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 business posted $4.67 EPS. Teledyne Technologies’s revenue for the quarter was down 3.8% on a year-over-year basis. As a group, research analysts forecast that Teledyne Technologies Incorporated will post 19.43 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have recently weighed in on TDY. 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 research note on Thursday, July 25th. Vertical Research initiated coverage on Teledyne Technologies in a research note on Tuesday, July 23rd. They issued a “buy” rating and a $470.00 target price on the stock. Finally, StockNews.com cut Teledyne Technologies from a “buy” rating to a “hold” rating in a report on Sunday, August 11th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $471.17.

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.