Teledyne Technologies Inc. (TDY) Stake Cut by UBS Asset Management Americas Inc.
UBS Asset Management Americas Inc. decreased its stake in Teledyne Technologies Inc. (NYSE:TDY) by 3.5% during the second quarter, Holdings Channel reports. The fund owned 24,338 shares of the company’s stock after selling 885 shares during the period. UBS Asset Management Americas Inc. owned 0.07% of Teledyne Technologies worth $2,410,000 at the end of the most recent quarter.
A number of other large investors have also recently added to or reduced their stakes in the company. Bank of Montreal Can purchased a new stake in Teledyne Technologies during the second quarter valued at about $106,000. Springbok Capital Management LLC boosted its stake in Teledyne Technologies by 800.0% in the first quarter. Springbok Capital Management LLC now owns 1,800 shares of the company’s stock valued at $159,000 after buying an additional 1,600 shares during the last quarter. LS Investment Advisors LLC boosted its stake in Teledyne Technologies by 75.1% in the second quarter. LS Investment Advisors LLC now owns 2,128 shares of the company’s stock valued at $211,000 after buying an additional 913 shares during the last quarter. Capstone Asset Management Co. purchased a new stake in Teledyne Technologies during the second quarter valued at about $229,000. Finally, JPMorgan Chase & Co. boosted its stake in Teledyne Technologies by 1,909.5% in the second quarter. JPMorgan Chase & Co. now owns 2,753 shares of the company’s stock valued at $273,000 after buying an additional 2,616 shares during the last quarter. Hedge funds and other institutional investors own 87.85% of the company’s stock.
Shares of Teledyne Technologies Inc. (NYSE:TDY) traded down 2.07% during midday trading on Friday, hitting $105.28. 242,678 shares of the company’s stock were exchanged. The firm has a market cap of $3.65 billion, a PE ratio of 19.78 and a beta of 0.94. The stock’s 50-day moving average price is $107.29 and its 200 day moving average price is $99.69. Teledyne Technologies Inc. has a one year low of $73.66 and a one year high of $110.61.
Teledyne Technologies (NYSE:TDY) last posted its quarterly earnings results on Thursday, August 4th. The company reported $1.32 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.24 by $0.08. Teledyne Technologies had a net margin of 8.46% and a return on equity of 13.03%. The business had revenue of $534.90 million for the quarter, compared to analysts’ expectations of $546.57 million. During the same period in the prior year, the company posted $1.34 EPS. The business’s revenue for the quarter was down 6.7% on a year-over-year basis. Equities research analysts forecast that Teledyne Technologies Inc. will post $5.16 EPS for the current year.
Several equities research analysts recently issued reports on the stock. Zacks Investment Research upgraded shares of Teledyne Technologies from a “sell” rating to a “hold” rating in a research report on Thursday, July 7th. Jefferies Group raised their price objective on shares of Teledyne Technologies from $90.00 to $105.00 and gave the stock a “hold” rating in a research report on Friday, August 5th. Finally, CL King cut shares of Teledyne Technologies from a “buy” rating to a “neutral” rating and set a $107.00 price objective for the company. in a research report on Wednesday, July 6th.
In related news, Chairman Robert Mehrabian sold 35,000 shares of the business’s stock in a transaction dated Monday, August 8th. The shares were sold at an average price of $105.57, for a total value of $3,694,950.00. Following the sale, the chairman now directly owns 283,754 shares in the company, valued at approximately $29,955,909.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Paul David Miller sold 4,695 shares of the business’s stock in a transaction dated Thursday, September 8th. The stock was sold at an average price of $108.56, for a total transaction of $509,689.20. Following the completion of the sale, the director now owns 21,257 shares in the company, valued at $2,307,659.92. The disclosure for this sale can be found here. Insiders own 3.93% of the company’s stock.
Teledyne Technologies Company Profile
Teledyne Technologies Incorporated provides enabling technologies for industrial markets. The Company caters to a range of markets, which include deepwater oil and gas exploration and production, oceanographic research, and air and water quality environmental monitoring. Its products include monitoring and control instrumentation for marine and environmental applications, harsh environment interconnects, and electronic test and measurement equipment.
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