Clough Capital Partners L P decreased its holdings in shares of Teledyne Technologies Incorporated (NYSE:TDY – Free Report) by 12.2% during the first quarter, according to its most recent filing with the SEC. The firm owned 25,225 shares of the scientific and technical instruments company’s stock after selling 3,520 shares during the period. Teledyne Technologies accounts for about 1.5% of Clough Capital Partners L P’s portfolio, making the stock its 27th largest position. Clough Capital Partners L P’s holdings in Teledyne Technologies were worth $15,261,000 as of its most recent SEC filing.
Several other large investors have also modified their holdings of the business. Geode Capital Management LLC raised its stake in Teledyne Technologies by 1.1% in 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. boosted its position in Teledyne Technologies by 32.0% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 14,972 shares of the scientific and technical instruments company’s stock valued at $7,647,000 after acquiring an additional 3,627 shares in the last quarter. LBP AM SA increased its holdings in shares of Teledyne Technologies by 24.8% in the 4th quarter. LBP AM SA now owns 34,983 shares of the scientific and technical instruments company’s stock valued at $17,867,000 after acquiring an additional 6,961 shares during the period. Swedbank AB increased its holdings in shares of Teledyne Technologies by 26.6% in 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. Finally, UBS Group AG raised its position in shares of Teledyne Technologies by 9.3% in the 4th quarter. UBS Group AG now owns 166,870 shares of the scientific and technical instruments company’s stock worth $85,226,000 after acquiring an additional 14,241 shares in the last quarter. Institutional investors own 91.58% of the company’s stock.
Teledyne Technologies Stock Performance
Shares of TDY opened at $655.40 on Monday. Teledyne Technologies Incorporated has a 12 month low of $483.02 and a 12 month high of $693.38. The stock has a fifty day moving average price of $627.85 and a 200-day moving average price of $630.12. The company has a current ratio of 2.18, a quick ratio of 1.39 and a debt-to-equity ratio of 0.19. The firm has a market cap of $30.36 billion, a PE ratio of 31.65, a P/E/G ratio of 3.06 and a beta of 0.92.
Analysts Set New Price Targets
TDY has been the subject of a number of analyst reports. Citigroup upped their price objective on Teledyne Technologies from $677.00 to $680.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 1st. Weiss Ratings reiterated a “buy (b)” rating on shares of Teledyne Technologies in a research note on Friday, May 22nd. Barclays boosted their target price on shares of Teledyne Technologies from $614.00 to $640.00 and gave the stock an “equal weight” rating in a report on Friday. Stifel Nicolaus increased their price target on shares of Teledyne Technologies from $750.00 to $775.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Jefferies Financial Group upgraded shares of Teledyne Technologies to a “strong-buy” rating in a report on Wednesday, June 10th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $715.83.
Read Our Latest Research Report on TDY
Key Stories Impacting Teledyne Technologies
Here are the key news stories impacting Teledyne Technologies this week:
- Positive Sentiment: Teledyne reported better-than-expected Q2 results, with EPS of $6.28 beating estimates and revenue of $1.66 billion topping forecasts, while revenue rose 9.8% year over year. The company also raised its guidance, which is helping reinforce optimism around the stock. Article Title
- Positive Sentiment: Analysts have been raising their forecasts following the upbeat earnings report, including Stifel, which increased its price target to $775 and maintained a buy rating, and Needham, which lifted its target to $750 with a buy rating. Article Title
- Positive Sentiment: Teledyne announced a five-year partnership between its Raymarine and FLIR Marine businesses and the Royal National Lifeboat Institution, expanding its marine technology footprint and adding another potential long-term commercial relationship. Article Title
- Neutral Sentiment: Some coverage suggests the stock is trading at a premium to fair value, and Barclays kept an equal-weight rating even while raising its target to $640, which implies limited upside from current levels. Article Title
- Neutral Sentiment: Other valuation-focused articles are questioning whether TDY is still undervalued after the earnings-driven rally, indicating the market is reassessing the stock’s multiple rather than reacting to a new fundamental setback. Article Title
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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