Raymond James & Associates lessened its holdings in Teledyne Technologies Incorporated (NYSE:TDY) by 1.2% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 61,128 shares of the scientific and technical instruments company’s stock after selling 751 shares during the period. Raymond James & Associates owned about 0.17% of Teledyne Technologies worth $19,008,000 as of its most recent SEC filing.
Other large investors have also bought and sold shares of the company. Allred Capital Management LLC acquired a new stake in Teledyne Technologies in the 1st quarter valued at $28,000. Twin Tree Management LP acquired a new stake in shares of Teledyne Technologies in the first quarter valued at about $29,000. Creative Financial Designs Inc. ADV purchased a new stake in shares of Teledyne Technologies during the 2nd quarter valued at about $31,000. Cornerstone Advisors Inc. lifted its position in Teledyne Technologies by 40.0% during the 1st quarter. Cornerstone Advisors Inc. now owns 126 shares of the scientific and technical instruments company’s stock worth $37,000 after acquiring an additional 36 shares in the last quarter. Finally, Exchange Traded Concepts LLC boosted its holdings in Teledyne Technologies by 552.4% in the 1st quarter. Exchange Traded Concepts LLC now owns 137 shares of the scientific and technical instruments company’s stock worth $41,000 after acquiring an additional 116 shares during the period. Institutional investors and hedge funds own 86.19% of the company’s stock.
A number of research firms have recently commented on TDY. Needham & Company LLC boosted their target price on shares of Teledyne Technologies from $345.00 to $365.00 and gave the stock a “buy” rating in a research report on Thursday, July 23rd. Zacks Investment Research lowered shares of Teledyne Technologies from a “hold” rating to a “sell” rating and set a $359.00 price objective on the stock. in a report on Tuesday, May 26th. Finally, Jefferies Financial Group upgraded Teledyne Technologies from a “hold” rating to a “buy” rating and raised their target price for the company from $310.00 to $360.00 in a research note on Wednesday, July 15th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company’s stock. Teledyne Technologies currently has a consensus rating of “Hold” and an average target price of $374.75.
Teledyne Technologies stock opened at $306.70 on Friday. Teledyne Technologies Incorporated has a 52 week low of $195.34 and a 52 week high of $398.99. The company has a current ratio of 1.97, a quick ratio of 1.45 and a debt-to-equity ratio of 0.30. The stock has a market cap of $11.24 billion, a P/E ratio of 29.07 and a beta of 1.03. The stock has a 50 day moving average of $314.01 and a 200-day moving average of $331.68.
Teledyne Technologies (NYSE:TDY) last posted its quarterly earnings results on Wednesday, July 22nd. The scientific and technical instruments company reported $2.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.99 by $0.49. The firm had revenue of $743.30 million for the quarter, compared to analysts’ expectations of $743.70 million. Teledyne Technologies had a net margin of 12.59% and a return on equity of 14.45%. During the same period in the prior year, the company posted $2.80 earnings per share. As a group, equities analysts predict that Teledyne Technologies Incorporated will post 9.81 earnings per share for the current fiscal year.
In other news, CEO Aldo Pichelli sold 5,000 shares of Teledyne Technologies stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $332.17, for a total value of $1,660,850.00. Following the completion of the transaction, the chief executive officer now owns 94,002 shares in the company, valued at approximately $31,224,644.34. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Paul David Miller sold 4,836 shares of the business’s stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $316.14, for a total value of $1,528,853.04. Following the completion of the sale, the director now owns 22,513 shares of the company’s stock, valued at $7,117,259.82. The disclosure for this sale can be found here. Insiders have sold 36,316 shares of company stock worth $12,240,352 in the last ninety days. Corporate insiders own 3.15% of the company’s stock.
Teledyne Technologies Company Profile
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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