Cramer Rosenthal Mcglynn LLC Has $33.16 Million Stock Holdings in Teledyne Technologies Incorporated (NYSE:TDY)

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Cramer Rosenthal Mcglynn LLC cut its position in shares of Teledyne Technologies Incorporated (NYSE:TDY) by 9.4% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 121,079 shares of the scientific and technical instruments company’s stock after selling 12,602 shares during the quarter. Cramer Rosenthal Mcglynn LLC owned 0.33% of Teledyne Technologies worth $33,160,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. BlackRock Inc. raised its stake in shares of Teledyne Technologies by 7.5% in the second quarter. BlackRock Inc. now owns 4,024,326 shares of the scientific and technical instruments company’s stock valued at $1,102,140,000 after acquiring an additional 281,116 shares during the last quarter. Janus Henderson Group PLC raised its position in Teledyne Technologies by 0.9% in the 2nd quarter. Janus Henderson Group PLC now owns 2,186,982 shares of the scientific and technical instruments company’s stock worth $598,949,000 after purchasing an additional 19,732 shares during the last quarter. Wells Fargo & Company MN raised its position in Teledyne Technologies by 1.8% in the 2nd quarter. Wells Fargo & Company MN now owns 702,982 shares of the scientific and technical instruments company’s stock worth $192,525,000 after purchasing an additional 12,710 shares during the last quarter. Artisan Partners Limited Partnership raised its position in Teledyne Technologies by 8.5% in the 1st quarter. Artisan Partners Limited Partnership now owns 535,709 shares of the scientific and technical instruments company’s stock worth $126,968,000 after purchasing an additional 42,133 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in Teledyne Technologies by 1.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 495,862 shares of the scientific and technical instruments company’s stock worth $135,803,000 after purchasing an additional 6,179 shares during the last quarter. 85.08% of the stock is currently owned by institutional investors and hedge funds.

TDY has been the subject of several research analyst reports. Cowen boosted their price objective on shares of Teledyne Technologies from $275.00 to $300.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. ValuEngine raised shares of Teledyne Technologies from a “hold” rating to a “buy” rating in a report on Wednesday, September 4th. Needham & Company LLC boosted their price target on shares of Teledyne Technologies from $275.00 to $328.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Finally, Berenberg Bank assumed coverage on shares of Teledyne Technologies in a report on Tuesday, June 11th. They issued a “buy” rating and a $290.00 price target for the company. Five investment analysts have rated the stock with a buy rating, The company currently has an average rating of “Buy” and a consensus price target of $293.75.

Shares of TDY stock traded down $0.38 on Friday, hitting $311.79. The stock had a trading volume of 11,842 shares, compared to its average volume of 186,536. Teledyne Technologies Incorporated has a twelve month low of $189.35 and a twelve month high of $323.10. The firm has a market cap of $11.12 billion, a P/E ratio of 35.11, a PEG ratio of 4.09 and a beta of 1.11. The company has a current ratio of 1.63, a quick ratio of 1.08 and a debt-to-equity ratio of 0.31. The company has a fifty day moving average price of $301.11 and a two-hundred day moving average price of $262.39.

Teledyne Technologies (NYSE:TDY) last announced its quarterly earnings results on Wednesday, July 24th. The scientific and technical instruments company reported $2.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.40 by $0.40. The company had revenue of $782.00 million during the quarter, compared to analyst estimates of $781.55 million. Teledyne Technologies had a net margin of 12.04% and a return on equity of 15.09%. The firm’s revenue was up 6.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.32 EPS. On average, analysts expect that Teledyne Technologies Incorporated will post 9.95 earnings per share for the current year.

In related news, VP Cynthia Y. Belak sold 11,362 shares of the company’s stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $264.49, for a total value of $3,005,135.38. Following the completion of the transaction, the vice president now directly owns 14,407 shares of the company’s stock, valued at approximately $3,810,507.43. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Melanie Susan Cibik sold 6,000 shares of the company’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $303.03, for a total transaction of $1,818,180.00. Following the completion of the transaction, the vice president now directly owns 30,364 shares of the company’s stock, valued at $9,201,202.92. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 19,610 shares of company stock valued at $5,478,592. Company insiders own 3.19% of the company’s stock.

About Teledyne Technologies

Teledyne Technologies Incorporated provides instrumentation, digital imaging, aerospace and defense electronics, and engineered systems in the United States, the United Kingdom, Denmark, Canada, France, and the Netherlands. 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 deployed in mission critical and harsh environments.

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

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