ARK Investment Management LLC Has $13.34 Million Position in Teledyne Technologies Incorporated (NYSE:TDY)

ARK Investment Management LLC lessened its holdings in Teledyne Technologies Incorporated (NYSE:TDY) by 10.7% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 30,486 shares of the scientific and technical instruments company’s stock after selling 3,658 shares during the quarter. ARK Investment Management LLC’s holdings in Teledyne Technologies were worth $13,343,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. Kayne Anderson Rudnick Investment Management LLC lifted its holdings in 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 purchasing an additional 186,849 shares during the last quarter. Assenagon Asset Management S.A. raised its stake in shares of Teledyne Technologies by 235.6% in the second quarter. Assenagon Asset Management S.A. now owns 125,245 shares of the scientific and technical instruments company’s stock valued at $48,593,000 after acquiring an additional 87,925 shares during the last quarter. International Assets Investment Management LLC boosted its holdings in shares of Teledyne Technologies by 44,457.2% in the 3rd quarter. International Assets Investment Management LLC now owns 73,965 shares of the scientific and technical instruments company’s stock worth $32,372,000 after acquiring an additional 73,799 shares in the last quarter. Maren Capital LLC grew its position in Teledyne Technologies by 37.2% during the 1st quarter. Maren Capital LLC now owns 254,245 shares of the scientific and technical instruments company’s stock worth $109,152,000 after acquiring an additional 68,940 shares during the last quarter. Finally, Millennium Management LLC increased its holdings in Teledyne Technologies by 88.4% during the 2nd quarter. Millennium Management LLC now owns 127,752 shares of the scientific and technical instruments company’s stock valued at $49,565,000 after purchasing an additional 59,942 shares in the last quarter. 91.58% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Vertical Research began coverage on Teledyne Technologies in a report on Tuesday, July 23rd. They set a “buy” rating and a $470.00 target price on the stock. TD Cowen raised their price objective on shares of Teledyne Technologies from $450.00 to $500.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Needham & Company LLC upped their target price on shares of Teledyne Technologies from $482.00 to $528.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Finally, StockNews.com raised shares of Teledyne Technologies from a “hold” rating to a “buy” rating in a research note on Wednesday, October 2nd. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $474.50.

Teledyne Technologies Trading Down 0.7 %

NYSE TDY opened at $477.38 on Friday. Teledyne Technologies Incorporated has a 12 month low of $355.41 and a 12 month high of $483.52. The stock has a 50-day simple moving average of $443.66 and a 200 day simple moving average of $414.41. The company has a current ratio of 2.00, a quick ratio of 1.35 and a debt-to-equity ratio of 0.28. The company has a market capitalization of $22.25 billion, a PE ratio of 24.13, a P/E/G ratio of 3.37 and a beta of 1.01.

Teledyne Technologies (NYSE:TDY) last announced its quarterly earnings results on Wednesday, October 23rd. The scientific and technical instruments company reported $5.10 earnings per share for the quarter, beating analysts’ consensus estimates of $4.97 by $0.13. The business had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.42 billion. Teledyne Technologies had a net margin of 16.88% and a return on equity of 10.02%. Teledyne Technologies’s revenue for the quarter was up 2.9% on a year-over-year basis. During the same period last year, the company posted $5.05 EPS. Research analysts forecast that Teledyne Technologies Incorporated will post 19.44 EPS for the current year.

Teledyne Technologies Company 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.