Grandfield & Dodd LLC purchased a new stake in Teledyne Technologies Incorporated (NYSE:TDY – Free Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 39,360 shares of the scientific and technical instruments company’s stock, valued at approximately $26,250,000. Teledyne Technologies makes up 1.4% of Grandfield & Dodd LLC’s investment portfolio, making the stock its 23rd biggest holding. Grandfield & Dodd LLC owned about 0.08% of Teledyne Technologies at the end of the most recent quarter.
Other hedge funds also recently bought and sold shares of the company. Geode Capital Management LLC grew its position in Teledyne Technologies by 1.1% during the fourth quarter. Geode Capital Management LLC now owns 1,274,274 shares of the scientific and technical instruments company’s stock worth $649,524,000 after buying an additional 13,647 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in Teledyne Technologies by 32.0% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 14,972 shares of the scientific and technical instruments company’s stock worth $7,647,000 after purchasing an additional 3,627 shares during the last quarter. Swedbank AB boosted its holdings in Teledyne Technologies by 26.6% during the 4th quarter. Swedbank AB now owns 22,155 shares of the scientific and technical instruments company’s stock valued at $11,315,000 after acquiring an additional 4,659 shares during the period. UBS Group AG boosted its stake in shares of Teledyne Technologies by 9.3% during the fourth quarter. UBS Group AG now owns 166,870 shares of the scientific and technical instruments company’s stock valued at $85,226,000 after purchasing an additional 14,241 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in Teledyne Technologies by 1.9% during the 1st quarter. Bank of New York Mellon Corp now owns 243,324 shares of the scientific and technical instruments company’s stock valued at $147,213,000 after buying an additional 4,544 shares during the period. Hedge funds and other institutional investors own 91.58% of the company’s stock.
Teledyne Technologies Stock Performance
Shares of NYSE TDY opened at $677.74 on Tuesday. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.18 and a quick ratio of 1.39. The firm has a fifty day moving average price of $645.44 and a 200-day moving average price of $640.97. The stock has a market cap of $31.42 billion, a PE ratio of 32.73, a price-to-earnings-growth ratio of 2.96 and a beta of 0.92. Teledyne Technologies Incorporated has a 1 year low of $483.02 and a 1 year high of $697.67.
Analyst Ratings Changes
A number of equities analysts recently commented on the company. Stifel Nicolaus upped their target price on Teledyne Technologies from $750.00 to $775.00 and gave the company a “buy” rating in a report on Thursday, July 23rd. Jefferies Financial Group upgraded shares of Teledyne Technologies to a “strong-buy” rating in a report on Wednesday, June 10th. Needham & Company LLC increased their price objective on shares of Teledyne Technologies from $735.00 to $750.00 and gave the company a “buy” rating in a research report on Thursday, July 23rd. Morgan Stanley increased their target price on Teledyne Technologies from $680.00 to $715.00 and gave the company an “equal weight” rating in a research note on Thursday, August 13th. Finally, Barclays lifted their target price on shares of Teledyne Technologies from $614.00 to $640.00 and gave the stock an “equal weight” rating in a research report on Friday, July 24th. Two investment analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $721.67.
Read Our Latest Research Report on TDY
Insider Activity at Teledyne Technologies
In other news, Director Simon M. Lorne sold 6,449 shares of the firm’s stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $680.34, for a total transaction of $4,387,512.66. Following the completion of the transaction, the director owned 55,783 shares in the company, valued at $37,951,406.22. This trade represents a 10.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 1.36% of the stock is owned by company insiders.
Teledyne Technologies Company Profile
Teledyne Technologies (NYSE: TDY), headquartered in Thousand Oaks, California, is a diversified industrial technology company that designs, manufactures and supports sophisticated electronic systems, instruments and imaging products. Founded in 1960 by Henry Singleton and George Kozmetsky, Teledyne has grown into a multinational provider of high-performance equipment and software for commercial, scientific and government customers. Its offerings are used in markets that include aerospace and defense, marine, industrial manufacturing, environmental monitoring and scientific research.
The company operates through businesses that develop precision instrumentation, digital imaging products, engineered systems and aerospace and defense electronics.
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