Convergence Investment Partners LLC Purchases 644 Shares of Teledyne Technologies Incorporated (NYSE:TDY)

Convergence Investment Partners LLC grew its position in Teledyne Technologies Incorporated (NYSE:TDY) by 36.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,427 shares of the scientific and technical instruments company’s stock after acquiring an additional 644 shares during the period. Convergence Investment Partners LLC’s holdings in Teledyne Technologies were worth $755,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Commerce Bank lifted its stake in shares of Teledyne Technologies by 3.6% during the 1st quarter. Commerce Bank now owns 969 shares of the scientific and technical instruments company’s stock worth $288,000 after buying an additional 34 shares during the last quarter. Cornerstone Advisors Inc. lifted its stake in shares of Teledyne Technologies by 40.0% during the 1st quarter. Cornerstone Advisors Inc. now owns 126 shares of the scientific and technical instruments company’s stock worth $37,000 after buying an additional 36 shares during the last quarter. MML Investors Services LLC lifted its stake in shares of Teledyne Technologies by 2.6% during the 1st quarter. MML Investors Services LLC now owns 1,528 shares of the scientific and technical instruments company’s stock worth $454,000 after buying an additional 38 shares during the last quarter. Squar Milner Financial Services LLC lifted its stake in shares of Teledyne Technologies by 18.9% during the 1st quarter. Squar Milner Financial Services LLC now owns 302 shares of the scientific and technical instruments company’s stock worth $89,000 after buying an additional 48 shares during the last quarter. Finally, Advisory Alpha LLC lifted its stake in shares of Teledyne Technologies by 12.0% during the 1st quarter. Advisory Alpha LLC now owns 447 shares of the scientific and technical instruments company’s stock worth $141,000 after buying an additional 48 shares during the last quarter. 86.19% of the stock is owned by institutional investors.

A number of analysts have recently issued reports on TDY shares. Needham & Company LLC raised their target price on shares of Teledyne Technologies from $345.00 to $365.00 and gave the stock a “buy” rating in a research note on Thursday, July 23rd. Jefferies Financial Group upgraded shares of Teledyne Technologies from a “hold” rating to a “buy” rating and raised their target price for the stock from $310.00 to $360.00 in a research note on Wednesday, July 15th. Finally, Zacks Investment Research cut shares of Teledyne Technologies from a “hold” rating to a “sell” rating and set a $359.00 target price for the company. in a research note on Tuesday, May 26th. One analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company’s stock. Teledyne Technologies has a consensus rating of “Hold” and an average target price of $374.75.

Teledyne Technologies stock traded up $2.58 during midday trading on Friday, hitting $306.70. The company’s stock had a trading volume of 162,728 shares, compared to its average volume of 247,623. Teledyne Technologies Incorporated has a 1-year low of $195.34 and a 1-year high of $398.99. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.97 and a quick ratio of 1.45. The company has a 50-day moving average price of $314.01 and a two-hundred day moving average price of $331.68. The company has a market cap of $11.24 billion, a price-to-earnings ratio of 29.35 and a beta of 1.03.

Teledyne Technologies (NYSE:TDY) last issued its quarterly earnings data on Wednesday, July 22nd. The scientific and technical instruments company reported $2.48 earnings per share for the quarter, topping the consensus estimate of $1.99 by $0.49. Teledyne Technologies had a net margin of 12.59% and a return on equity of 14.45%. The business had revenue of $743.30 million during the quarter, compared to analysts’ expectations of $743.70 million. During the same quarter in the previous year, the company earned $2.80 EPS. Sell-side analysts forecast that Teledyne Technologies Incorporated will post 9.81 EPS for the current year.

In other news, Director Paul David Miller sold 4,836 shares of the business’s stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $316.14, for a total value of $1,528,853.04. Following the completion of the transaction, the director now directly owns 22,513 shares in the company, valued at approximately $7,117,259.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Aldo Pichelli sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $332.17, for a total transaction of $1,660,850.00. Following the completion of the transaction, the chief executive officer now owns 94,002 shares of the company’s stock, valued at $31,224,644.34. The disclosure for this sale can be found here. Insiders sold a total of 36,316 shares of company stock valued at $12,240,352 over the last 90 days. Corporate insiders own 3.15% of the company’s stock.

Teledyne Technologies Profile

Teledyne Technologies Incorporated provides instrumentation, digital imaging, aerospace and defense electronics, and engineered systems in the United States, the United Kingdom, Denmark, Canada, France, and the Netherlands. The company's Instrumentation segment offers monitoring and control instruments for marine, environmental, industrial, and other applications, as well as electronic test and measurement equipment; and power and communications connectivity devices for distributed instrumentation systems and sensor networks deployed in mission critical and harsh environments.

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Institutional Ownership by Quarter for Teledyne Technologies (NYSE:TDY)

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