Bowen Hanes & Co. Inc. raised its position in shares of Teledyne Technologies Incorporated (NYSE:TDY – Free Report) by 1.1% in the fourth quarter, HoldingsChannel.com reports. The firm owned 185,504 shares of the scientific and technical instruments company’s stock after purchasing an additional 1,980 shares during the quarter. Teledyne Technologies accounts for approximately 2.4% of Bowen Hanes & Co. Inc.’s portfolio, making the stock its 10th biggest holding. Bowen Hanes & Co. Inc.’s holdings in Teledyne Technologies were worth $94,742,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Nvest Financial LLC increased its position in Teledyne Technologies by 30.7% during the 4th quarter. Nvest Financial LLC now owns 1,848 shares of the scientific and technical instruments company’s stock valued at $944,000 after purchasing an additional 434 shares during the period. CIBC Asset Management Inc increased its position in Teledyne Technologies by 66.0% during the 4th quarter. CIBC Asset Management Inc now owns 11,073 shares of the scientific and technical instruments company’s stock valued at $5,655,000 after purchasing an additional 4,403 shares during the period. Goldman Sachs Group Inc. increased its position in Teledyne Technologies by 20.0% during the 4th quarter. Goldman Sachs Group Inc. now owns 203,867 shares of the scientific and technical instruments company’s stock valued at $104,121,000 after purchasing an additional 33,995 shares during the period. Westpac Banking Corp increased its position in Teledyne Technologies by 7.0% during the 4th quarter. Westpac Banking Corp now owns 5,846 shares of the scientific and technical instruments company’s stock valued at $2,986,000 after purchasing an additional 381 shares during the period. Finally, Kesler Norman & Wride LLC acquired a new stake in Teledyne Technologies during the 4th quarter valued at approximately $763,000. Institutional investors and hedge funds own 91.58% of the company’s stock.
Teledyne Technologies Price Performance
Shares of TDY opened at $619.69 on Thursday. Teledyne Technologies Incorporated has a 12-month low of $483.02 and a 12-month high of $693.38. The business’s fifty day moving average is $629.77 and its 200 day moving average is $598.01. The company has a quick ratio of 1.16, a current ratio of 1.76 and a debt-to-equity ratio of 0.19. The stock has a market cap of $28.71 billion, a P/E ratio of 31.34, a P/E/G ratio of 2.96 and a beta of 0.94.
Wall Street Analysts Forecast Growth
A number of analysts have weighed in on TDY shares. Morgan Stanley increased their target price on shares of Teledyne Technologies from $620.00 to $680.00 and gave the company an “equal weight” rating in a research report on Wednesday, March 4th. Jefferies Financial Group raised their price objective on shares of Teledyne Technologies from $710.00 to $770.00 and gave the stock a “buy” rating in a research report on Monday, February 23rd. Barclays raised their price objective on shares of Teledyne Technologies from $603.00 to $614.00 and gave the stock an “equal weight” rating in a research report on Friday, April 24th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Teledyne Technologies in a research report on Friday, May 22nd. Finally, Citigroup raised their price objective on shares of Teledyne Technologies from $649.00 to $677.00 and gave the stock a “neutral” rating in a research report on Thursday, April 2nd. Five investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $693.71.
Check Out Our Latest Analysis on TDY
Teledyne Technologies 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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