Amalgamated Bank Decreases Holdings in Teledyne Technologies Incorporated (NYSE:TDY)

Amalgamated Bank trimmed its stake in shares of Teledyne Technologies Incorporated (NYSE:TDYGet Rating) by 6.6% during the 1st quarter, HoldingsChannel.com reports. The firm owned 11,637 shares of the scientific and technical instruments company’s stock after selling 825 shares during the quarter. Amalgamated Bank’s holdings in Teledyne Technologies were worth $5,500,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in TDY. Principal Financial Group Inc. lifted its stake in shares of Teledyne Technologies by 2.0% in the first quarter. Principal Financial Group Inc. now owns 57,809 shares of the scientific and technical instruments company’s stock worth $27,322,000 after buying an additional 1,144 shares in the last quarter. Natixis Advisors L.P. lifted its stake in shares of Teledyne Technologies by 40.6% in the first quarter. Natixis Advisors L.P. now owns 42,835 shares of the scientific and technical instruments company’s stock worth $20,245,000 after buying an additional 12,362 shares in the last quarter. Greenleaf Trust lifted its stake in shares of Teledyne Technologies by 10.2% in the first quarter. Greenleaf Trust now owns 732 shares of the scientific and technical instruments company’s stock worth $346,000 after buying an additional 68 shares in the last quarter. Mutual of America Capital Management LLC lifted its stake in shares of Teledyne Technologies by 1.9% in the first quarter. Mutual of America Capital Management LLC now owns 11,892 shares of the scientific and technical instruments company’s stock worth $5,621,000 after buying an additional 217 shares in the last quarter. Finally, Treasurer of the State of North Carolina lifted its stake in shares of Teledyne Technologies by 1.5% in the first quarter. Treasurer of the State of North Carolina now owns 17,559 shares of the scientific and technical instruments company’s stock worth $8,299,000 after buying an additional 268 shares in the last quarter. 89.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have commented on TDY. Morgan Stanley reduced their target price on shares of Teledyne Technologies from $470.00 to $445.00 and set an “underweight” rating on the stock in a research note on Tuesday, August 16th. Needham & Company LLC reduced their target price on shares of Teledyne Technologies from $520.00 to $472.00 and set a “buy” rating on the stock in a research note on Thursday, July 28th. Finally, TheStreet raised shares of Teledyne Technologies from a “c+” rating to a “b-” rating in a research note on Friday, August 5th.

Teledyne Technologies Price Performance

Shares of TDY opened at $372.06 on Tuesday. Teledyne Technologies Incorporated has a 1-year low of $344.66 and a 1-year high of $493.97. The stock has a market cap of $17.44 billion, a PE ratio of 26.11, a P/E/G ratio of 2.44 and a beta of 1.07. The firm has a 50-day simple moving average of $386.53 and a two-hundred day simple moving average of $408.36. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.67 and a quick ratio of 1.08.

Teledyne Technologies (NYSE:TDYGet Rating) last announced its quarterly earnings results on Wednesday, July 27th. The scientific and technical instruments company reported $4.43 earnings per share for the quarter, beating analysts’ consensus estimates of $4.38 by $0.05. Teledyne Technologies had a net margin of 12.67% and a return on equity of 10.93%. The business had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.36 billion. During the same period last year, the business earned $4.61 earnings per share. The business’s revenue for the quarter was up 20.9% on a year-over-year basis. As a group, analysts forecast that Teledyne Technologies Incorporated will post 17.61 EPS for the current year.

Teledyne Technologies Profile

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Teledyne Technologies Incorporated provides enabling technologies for industrial growth markets in the United States, Canada, the United Kingdom, Belgium, the Netherlands, and internationally. 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.

See Also

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

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