Teledyne Technologies Incorporated (NYSE:TDY) Shares Bought by Royal London Asset Management Ltd.

Royal London Asset Management Ltd. grew its holdings in shares of Teledyne Technologies Incorporated (NYSE:TDY) by 11.7% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 20,498 shares of the scientific and technical instruments company’s stock after purchasing an additional 2,152 shares during the quarter. Royal London Asset Management Ltd.’s holdings in Teledyne Technologies were worth $7,953,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in TDY. Choreo LLC bought a new stake in Teledyne Technologies during the 2nd quarter valued at $241,000. Wedbush Securities Inc. increased its holdings in shares of Teledyne Technologies by 10.4% during the second quarter. Wedbush Securities Inc. now owns 1,098 shares of the scientific and technical instruments company’s stock valued at $426,000 after purchasing an additional 103 shares during the period. Oak Thistle LLC acquired a new position in shares of Teledyne Technologies during the second quarter valued at $249,000. Emerald Advisers LLC bought a new stake in shares of Teledyne Technologies during the second quarter valued at about $551,000. Finally, Acadian Asset Management LLC acquired a new stake in Teledyne Technologies in the second quarter worth about $373,000. 91.58% of the stock is currently owned by institutional investors and hedge funds.

Teledyne Technologies Stock Performance

NYSE:TDY opened at $427.75 on Friday. The company has a current ratio of 1.98, a quick ratio of 1.28 and a debt-to-equity ratio of 0.28. The company has a 50-day moving average of $413.34 and a 200-day moving average of $406.31. Teledyne Technologies Incorporated has a twelve month low of $355.41 and a twelve month high of $448.19. The firm has a market cap of $20.01 billion, a price-to-earnings ratio of 23.13, a price-to-earnings-growth ratio of 2.98 and a beta of 1.02.

Teledyne Technologies (NYSE:TDY) last issued its earnings results on Wednesday, July 24th. The scientific and technical instruments company reported $4.58 earnings per share for the quarter, topping analysts’ consensus estimates of $4.49 by $0.09. The firm had revenue of $1.37 billion during the quarter, compared to analysts’ expectations of $1.36 billion. Teledyne Technologies had a net margin of 15.86% and a return on equity of 10.27%. The firm’s revenue for the quarter was down 3.8% compared to the same quarter last year. During the same period last year, the firm posted $4.67 earnings per share. Analysts forecast that Teledyne Technologies Incorporated will post 19.43 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms have commented on TDY. StockNews.com downgraded shares of Teledyne Technologies from a “buy” rating to a “hold” rating in a research report on Sunday, August 11th. Vertical Research began 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 on the stock. Finally, Needham & Company LLC upped their target price on Teledyne Technologies from $455.00 to $482.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $471.17.

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.