Deerfield Management Company L.P. Series C Boosts Stake in Teledyne Technologies Incorporated (NYSE:TDY)

Deerfield Management Company L.P. Series C boosted its stake in shares of Teledyne Technologies Incorporated (NYSE:TDY) by 274.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,656 shares of the scientific and technical instruments company’s stock after buying an additional 2,680 shares during the period. Deerfield Management Company L.P. Series C’s holdings in Teledyne Technologies were worth $1,418,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Kayne Anderson Rudnick Investment Management LLC grew its position in shares of Teledyne Technologies by 17.8% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,238,091 shares of the scientific and technical instruments company’s stock valued at $480,355,000 after acquiring an additional 186,849 shares during the period. Maren Capital LLC acquired a new stake in Teledyne Technologies in the 4th quarter valued at approximately $82,700,000. Public Sector Pension Investment Board grew its stake in shares of Teledyne Technologies by 1,755.0% in the fourth quarter. Public Sector Pension Investment Board now owns 93,325 shares of the scientific and technical instruments company’s stock worth $41,650,000 after acquiring an additional 88,294 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in shares of Teledyne Technologies by 235.6% during the second quarter. Assenagon Asset Management S.A. now owns 125,245 shares of the scientific and technical instruments company’s stock worth $48,593,000 after purchasing an additional 87,925 shares in the last quarter. Finally, Vanguard Group Inc. lifted its position in Teledyne Technologies by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 5,517,922 shares of the scientific and technical instruments company’s stock valued at $2,462,593,000 after acquiring an additional 77,890 shares during the last quarter. Hedge funds and other institutional investors own 91.58% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on TDY shares. Needham & Company LLC increased their price target on shares of Teledyne Technologies from $455.00 to $482.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Vertical Research initiated coverage on shares of Teledyne Technologies in a report on Tuesday, July 23rd. They set a “buy” rating and a $470.00 price target for the company. Finally, StockNews.com lowered shares of Teledyne Technologies from a “buy” rating to a “hold” rating in a report on Sunday, August 11th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, Teledyne Technologies has an average rating of “Moderate Buy” and an average target price of $471.17.

Teledyne Technologies Trading Down 0.4 %

Shares of Teledyne Technologies stock opened at $433.51 on Thursday. The firm has a market capitalization of $20.54 billion, a PE ratio of 23.45, a price-to-earnings-growth ratio of 3.03 and a beta of 1.02. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.98 and a quick ratio of 1.28. The company’s fifty day moving average price is $419.61 and its two-hundred day moving average price is $406.50. Teledyne Technologies Incorporated has a 52-week low of $355.41 and a 52-week high of $448.19.

Teledyne Technologies (NYSE:TDY) last issued its quarterly earnings data on Wednesday, July 24th. The scientific and technical instruments company reported $4.58 EPS for the quarter, topping the consensus estimate of $4.49 by $0.09. The business had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.36 billion. Teledyne Technologies had a return on equity of 10.27% and a net margin of 15.86%. The firm’s revenue was down 3.8% compared to the same quarter last year. During the same quarter last year, the business posted $4.67 EPS. On average, analysts expect that Teledyne Technologies Incorporated will post 19.43 EPS for the current year.

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.