Renaissance Technologies LLC purchased a new position in shares of Teledyne Technologies Incorporated (NYSE:TDY – Free Report) in the 1st quarter, HoldingsChannel.com reports. The institutional investor purchased 5,787 shares of the scientific and technical instruments company’s stock, valued at approximately $3,501,000.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Norges Bank bought a new position in shares of Teledyne Technologies during the 4th quarter valued at about $428,664,000. FIL Ltd boosted its stake in Teledyne Technologies by 25.2% in the fourth quarter. FIL Ltd now owns 1,367,137 shares of the scientific and technical instruments company’s stock worth $698,238,000 after buying an additional 274,976 shares in the last quarter. Invesco Ltd. boosted its stake in Teledyne Technologies by 25.7% in the third quarter. Invesco Ltd. now owns 764,905 shares of the scientific and technical instruments company’s stock worth $448,265,000 after buying an additional 156,559 shares in the last quarter. Hsbc Holdings PLC grew its position in Teledyne Technologies by 81.8% during the fourth quarter. Hsbc Holdings PLC now owns 216,171 shares of the scientific and technical instruments company’s stock valued at $110,495,000 after acquiring an additional 97,281 shares during the last quarter. Finally, Moore Capital Management LP bought a new position in Teledyne Technologies during the fourth quarter valued at approximately $41,615,000. 91.58% of the stock is currently owned by hedge funds and other institutional investors.
Teledyne Technologies Stock Up 0.5%
Shares of NYSE TDY opened at $691.00 on Friday. The company has a quick ratio of 1.39, a current ratio of 2.18 and a debt-to-equity ratio of 0.19. Teledyne Technologies Incorporated has a 52 week low of $483.02 and a 52 week high of $694.91. The firm’s fifty day moving average is $637.26 and its 200 day moving average is $637.45. The company has a market cap of $32.03 billion, a price-to-earnings ratio of 33.37, a PEG ratio of 2.99 and a beta of 0.92.
Analyst Ratings Changes
A number of equities research analysts have recently weighed in on TDY shares. Barclays boosted their price objective on shares of Teledyne Technologies from $614.00 to $640.00 and gave the stock an “equal weight” rating in a report on Friday, July 24th. Weiss Ratings reiterated a “buy (b)” rating on shares of Teledyne Technologies in a research report on Friday, May 22nd. Jefferies Financial Group raised shares of Teledyne Technologies to a “strong-buy” rating in a research note on Wednesday, June 10th. Zacks Research upgraded Teledyne Technologies from a “hold” rating to a “strong-buy” rating in a report on Friday, July 24th. Finally, Needham & Company LLC boosted their target price on Teledyne Technologies from $735.00 to $750.00 and gave the company a “buy” rating in a research note on Thursday, July 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $715.83.
Get Our Latest Stock Analysis on TDY
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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