Canada Pension Plan Investment Board Trims Stock Position in Teledyne Technologies Incorporated (NYSE:TDY)

Canada Pension Plan Investment Board decreased its holdings in Teledyne Technologies Incorporated (NYSE:TDY) by 60.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,060 shares of the scientific and technical instruments company’s stock after selling 7,641 shares during the quarter. Canada Pension Plan Investment Board’s holdings in Teledyne Technologies were worth $1,963,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Tortoise Investment Management LLC increased its position in Teledyne Technologies by 48.0% during the second quarter. Tortoise Investment Management LLC now owns 74 shares of the scientific and technical instruments company’s stock worth $29,000 after purchasing an additional 24 shares during the last quarter. Weik Capital Management raised its position in shares of Teledyne Technologies by 0.5% in the 4th quarter. Weik Capital Management now owns 5,390 shares of the scientific and technical instruments company’s stock worth $2,406,000 after buying an additional 25 shares during the period. Linscomb Wealth Inc. boosted its holdings in Teledyne Technologies by 4.4% in the second quarter. Linscomb Wealth Inc. now owns 695 shares of the scientific and technical instruments company’s stock valued at $270,000 after acquiring an additional 29 shares during the last quarter. MJP Associates Inc. ADV grew its position in Teledyne Technologies by 5.6% during the second quarter. MJP Associates Inc. ADV now owns 604 shares of the scientific and technical instruments company’s stock valued at $234,000 after acquiring an additional 32 shares during the period. Finally, Massmutual Trust Co. FSB ADV increased its stake in Teledyne Technologies by 32.1% during the second quarter. Massmutual Trust Co. FSB ADV now owns 140 shares of the scientific and technical instruments company’s stock worth $54,000 after acquiring an additional 34 shares during the last quarter. Institutional investors and hedge funds own 91.58% of the company’s stock.

Teledyne Technologies Stock Up 0.6 %

Shares of NYSE:TDY opened at $436.11 on Friday. The company has a market capitalization of $20.40 billion, a price-to-earnings ratio of 23.59, a price-to-earnings-growth ratio of 3.05 and a beta of 1.02. The company has a 50 day moving average of $420.34 and a two-hundred day moving average of $406.71. Teledyne Technologies Incorporated has a 52-week low of $355.41 and a 52-week high of $448.19. The company has a quick ratio of 1.28, a current ratio of 1.98 and a debt-to-equity ratio of 0.28.

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

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on TDY shares. Vertical Research assumed coverage on Teledyne Technologies in a research note on Tuesday, July 23rd. They issued a “buy” rating and a $470.00 price objective on the stock. StockNews.com cut shares of Teledyne Technologies from a “buy” rating to a “hold” rating in a research report on Sunday, August 11th. Finally, Needham & Company LLC increased their price objective on shares of Teledyne Technologies from $455.00 to $482.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock 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.