Assenagon Asset Management S.A. Trims Stock Holdings in Teledyne Technologies Incorporated (NYSE:TDY)

Assenagon Asset Management S.A. reduced its holdings in shares of Teledyne Technologies Incorporated (NYSE:TDY) by 3.9% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 120,344 shares of the scientific and technical instruments company’s stock after selling 4,901 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Teledyne Technologies were worth $52,670,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of TDY. Wolff Wiese Magana LLC bought a new stake in Teledyne Technologies during the 3rd quarter valued at $27,000. American National Bank bought a new stake in shares of Teledyne Technologies during the 2nd quarter valued at $28,000. Innealta Capital LLC purchased a new stake in Teledyne Technologies during the 2nd quarter worth about $28,000. Tortoise Investment Management LLC boosted its stake in Teledyne Technologies by 48.0% in the 2nd 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 period. Finally, Crewe Advisors LLC grew its holdings in Teledyne Technologies by 319.0% during the 2nd quarter. Crewe Advisors LLC now owns 88 shares of the scientific and technical instruments company’s stock valued at $34,000 after buying an additional 67 shares in the last quarter. 91.58% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

TDY has been the subject of a number of analyst reports. StockNews.com upgraded shares of Teledyne Technologies from a “hold” rating to a “buy” rating in a research report on Wednesday, October 2nd. Vertical Research started coverage on shares of Teledyne Technologies in a report on Tuesday, July 23rd. They issued a “buy” rating and a $470.00 price target for the company. Needham & Company LLC upped their price target on shares of Teledyne Technologies from $482.00 to $528.00 and gave the stock a “buy” rating in a report on Thursday. Finally, TD Cowen lifted their price objective on Teledyne Technologies from $450.00 to $500.00 and gave the company a “buy” rating in a research note on Thursday. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $474.50.

Teledyne Technologies Stock Performance

Teledyne Technologies stock opened at $472.86 on Friday. Teledyne Technologies Incorporated has a fifty-two week low of $355.41 and a fifty-two week high of $474.14. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.28 and a current ratio of 1.98. The stock has a market cap of $22.12 billion, a P/E ratio of 25.71, a price-to-earnings-growth ratio of 3.11 and a beta of 1.01. The firm’s fifty day moving average price is $434.94 and its 200-day moving average price is $410.18.

Teledyne Technologies (NYSE:TDY) last issued its quarterly earnings results on Wednesday, October 23rd. The scientific and technical instruments company reported $5.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.97 by $0.13. The firm had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.42 billion. Teledyne Technologies had a return on equity of 10.27% and a net margin of 15.86%. The company’s revenue was up 2.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $5.05 earnings per share. On average, equities research analysts expect that Teledyne Technologies Incorporated will post 19.43 earnings per share for the current fiscal year.

About Teledyne Technologies

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.