Teledyne Technologies Incorporated (NYSE:TDY) Shares Sold by Lombard Odier Asset Management USA Corp

Lombard Odier Asset Management USA Corp lessened its position in Teledyne Technologies Incorporated (NYSE:TDY) by 71.1% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 820 shares of the scientific and technical instruments company’s stock after selling 2,021 shares during the period. Lombard Odier Asset Management USA Corp’s holdings in Teledyne Technologies were worth $318,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of TDY. Kayne Anderson Rudnick Investment Management LLC grew its holdings in Teledyne Technologies by 17.8% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,238,091 shares of the scientific and technical instruments company’s stock valued at $480,355,000 after purchasing an additional 186,849 shares during the period. Maren Capital LLC acquired a new position in shares of Teledyne Technologies in the 4th quarter worth approximately $82,700,000. Public Sector Pension Investment Board increased its holdings in shares of Teledyne Technologies by 1,755.0% in the 4th quarter. Public Sector Pension Investment Board now owns 93,325 shares of the scientific and technical instruments company’s stock valued at $41,650,000 after acquiring an additional 88,294 shares during the last quarter. Assenagon Asset Management S.A. raised its position in shares of Teledyne Technologies by 235.6% during the 2nd quarter. Assenagon Asset Management S.A. now owns 125,245 shares of the scientific and technical instruments company’s stock valued at $48,593,000 after acquiring an additional 87,925 shares in the last quarter. Finally, Vanguard Group Inc. lifted its stake in Teledyne Technologies by 1.4% during the fourth quarter. Vanguard Group Inc. now owns 5,517,922 shares of the scientific and technical instruments company’s stock worth $2,462,593,000 after purchasing an additional 77,890 shares during the last quarter. 91.58% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

TDY has been the topic of a number of recent research reports. Needham & Company LLC raised their target price on shares of Teledyne Technologies from $455.00 to $482.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Vertical Research initiated coverage on shares of Teledyne Technologies in a research note on Tuesday, July 23rd. They set a “buy” rating and a $470.00 price objective for the company. Finally, StockNews.com downgraded Teledyne Technologies from a “buy” rating to a “hold” rating in a research note 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 MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $471.17.

Teledyne Technologies Stock Up 0.1 %

TDY opened at $432.59 on Tuesday. The business has a 50 day moving average of $418.34 and a 200-day moving average of $406.24. The stock has a market capitalization of $20.50 billion, a price-to-earnings ratio of 23.40, a P/E/G ratio of 3.01 and a beta of 1.02. The company has a current ratio of 1.98, a quick ratio of 1.28 and a debt-to-equity ratio of 0.28. Teledyne Technologies Incorporated has a 1-year low of $355.41 and a 1-year high of $448.19.

Teledyne Technologies (NYSE:TDY) last posted its quarterly earnings results on Wednesday, July 24th. The scientific and technical instruments company reported $4.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.49 by $0.09. The firm had revenue of $1.37 billion during 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 company’s quarterly revenue was down 3.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $4.67 earnings per share. As a group, sell-side analysts anticipate that Teledyne Technologies Incorporated will post 19.43 earnings per share for the current year.

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.