Summit Global Investments Has $385,000 Position in Teledyne Technologies Incorporated (NYSE:TDY)

Summit Global Investments decreased its stake in Teledyne Technologies Incorporated (NYSE:TDY) by 21.2% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 863 shares of the scientific and technical instruments company’s stock after selling 232 shares during the period. Summit Global Investments’ holdings in Teledyne Technologies were worth $385,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in TDY. Vanguard Group Inc. increased its position in Teledyne Technologies by 0.3% during the 3rd quarter. Vanguard Group Inc. now owns 5,440,032 shares of the scientific and technical instruments company’s stock valued at $2,222,688,000 after purchasing an additional 13,645 shares during the period. Aristotle Capital Management LLC bought a new stake in shares of Teledyne Technologies in the 3rd quarter valued at $698,325,000. Kayne Anderson Rudnick Investment Management LLC raised its stake in Teledyne Technologies by 26.3% during the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 929,995 shares of the scientific and technical instruments company’s stock worth $379,977,000 after buying an additional 193,544 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in Teledyne Technologies by 19.7% in the third quarter. JPMorgan Chase & Co. now owns 922,621 shares of the scientific and technical instruments company’s stock valued at $376,965,000 after buying an additional 151,659 shares during the period. Finally, Northern Trust Corp lifted its holdings in Teledyne Technologies by 8.0% in the third quarter. Northern Trust Corp now owns 509,879 shares of the scientific and technical instruments company’s stock valued at $208,326,000 after buying an additional 37,720 shares during the period. 91.58% of the stock is currently owned by institutional investors.

Teledyne Technologies Trading Down 0.1 %

Shares of Teledyne Technologies stock opened at $385.34 on Monday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.29 and a current ratio of 1.81. Teledyne Technologies Incorporated has a 52 week low of $355.41 and a 52 week high of $448.19. The stock has a 50 day moving average price of $411.71 and a two-hundred day moving average price of $413.65. The stock has a market capitalization of $18.26 billion, a PE ratio of 20.84, a price-to-earnings-growth ratio of 2.66 and a beta of 1.04.

Teledyne Technologies (NYSE:TDY) last announced its quarterly earnings results on Wednesday, April 24th. The scientific and technical instruments company reported $4.55 EPS for the quarter, missing analysts’ consensus estimates of $4.63 by ($0.08). Teledyne Technologies had a net margin of 15.81% and a return on equity of 10.54%. The business had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.39 billion. During the same quarter last year, the firm posted $4.53 EPS. The business’s revenue for the quarter was down 2.4% compared to the same quarter last year. As a group, equities analysts anticipate that Teledyne Technologies Incorporated will post 19.34 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

TDY has been the subject of a number of recent analyst reports. StockNews.com downgraded Teledyne Technologies from a “buy” rating to a “hold” rating in a report on Thursday, April 25th. Needham & Company LLC decreased their target price on Teledyne Technologies from $510.00 to $455.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. Bank of America lowered Teledyne Technologies from a “buy” rating to a “neutral” rating and dropped their price target for the company from $490.00 to $400.00 in a research note on Friday, April 26th. Finally, TD Cowen cut their price target on Teledyne Technologies from $475.00 to $450.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, Teledyne Technologies has an average rating of “Moderate Buy” and a consensus target price of $470.83.

Insider Transactions at Teledyne Technologies

In other Teledyne Technologies news, Director Simon M. Lorne sold 2,200 shares of Teledyne Technologies stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $426.70, for a total transaction of $938,740.00. Following the completion of the transaction, the director now owns 67,288 shares in the company, valued at approximately $28,711,789.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.88% of the stock is currently owned by insiders.

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.