Argent Trust Co Purchases New Stake in Teledyne Technologies Incorporated (NYSE:TDY)

Argent Trust Co bought a new stake in shares of Teledyne Technologies Incorporated (NYSE:TDY) in the second quarter, HoldingsChannel.com reports. The institutional investor bought 811 shares of the scientific and technical instruments company’s stock, valued at approximately $315,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Kapitalo Investimentos Ltda purchased a new stake in shares of Teledyne Technologies in the 4th quarter worth about $29,000. American National Bank purchased a new stake in Teledyne Technologies in the second quarter worth about $28,000. Innealta Capital LLC bought a new stake in Teledyne Technologies during the 2nd quarter valued at approximately $28,000. Tortoise Investment Management LLC grew its holdings in shares of Teledyne Technologies by 48.0% during the 2nd quarter. Tortoise Investment Management LLC now owns 74 shares of the scientific and technical instruments company’s stock worth $29,000 after acquiring an additional 24 shares during the period. Finally, Crewe Advisors LLC raised its position in shares of Teledyne Technologies by 319.0% in the 2nd quarter. Crewe Advisors LLC now owns 88 shares of the scientific and technical instruments company’s stock worth $34,000 after acquiring an additional 67 shares in the last quarter. Hedge funds and other institutional investors own 91.58% of the company’s stock.

Teledyne Technologies Stock Performance

Shares of TDY stock opened at $432.13 on Friday. The company’s 50-day moving average is $417.58 and its 200 day moving average is $406.46. Teledyne Technologies Incorporated has a one year low of $355.41 and a one year high of $448.19. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.28 and a current ratio of 1.98. The company has a market capitalization of $20.47 billion, a price-to-earnings ratio of 23.37, a price-to-earnings-growth ratio of 3.01 and a beta of 1.02.

Teledyne Technologies (NYSE:TDY) last announced its quarterly earnings data 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. Teledyne Technologies had a net margin of 15.86% and a return on equity of 10.27%. The company had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.36 billion. During the same period in the previous year, the business earned $4.67 EPS. The firm’s revenue for the quarter was down 3.8% on a year-over-year basis. Sell-side analysts expect that Teledyne Technologies Incorporated will post 19.43 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms recently weighed in on TDY. Needham & Company LLC lifted their price target on Teledyne Technologies from $455.00 to $482.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. StockNews.com lowered shares of Teledyne Technologies from a “buy” rating to a “hold” rating in a research note on Sunday, August 11th. Finally, 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 target price for the company. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $471.17.

Teledyne Technologies Profile

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.