Stratos Wealth Partners LTD. decreased its stake in shares of Teledyne Technologies Incorporated (NYSE:TDY – Free Report) by 9.4% during the 1st quarter, Holdings Channel reports. The institutional investor owned 471 shares of the scientific and technical instruments company’s stock after selling 49 shares during the period. Stratos Wealth Partners LTD.’s holdings in Teledyne Technologies were worth $211,000 at the end of the most recent reporting period.
Other hedge funds also recently made changes to their positions in the company. Greenleaf Trust acquired a new position in shares of Teledyne Technologies in the 4th quarter worth approximately $348,000. Daiwa Securities Group Inc. boosted its holdings in shares of Teledyne Technologies by 4.9% in the fourth quarter. Daiwa Securities Group Inc. now owns 5,663 shares of the scientific and technical instruments company’s stock worth $2,265,000 after buying an additional 263 shares during the period. Metis Global Partners LLC boosted its holdings in shares of Teledyne Technologies by 39.5% in the fourth quarter. Metis Global Partners LLC now owns 974 shares of the scientific and technical instruments company’s stock worth $390,000 after buying an additional 276 shares during the period. Venturi Wealth Management LLC acquired a new position in shares of Teledyne Technologies in the fourth quarter worth about $219,000. Finally, FORA Capital LLC acquired a new position in shares of Teledyne Technologies in the fourth quarter worth about $348,000. Institutional investors and hedge funds own 93.31% of the company’s stock.
Insider Activity at Teledyne Technologies
In related news, VP Melanie Susan Cibik sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, May 15th. The shares were sold at an average price of $413.00, for a total transaction of $826,000.00. Following the transaction, the vice president now owns 27,305 shares of the company’s stock, valued at $11,276,965. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 2.14% of the company’s stock.
Analysts Set New Price Targets
Several research analysts have commented on TDY shares. StockNews.com upgraded shares of Teledyne Technologies from a “hold” rating to a “buy” rating in a report on Friday, May 26th. Credit Suisse Group decreased their target price on shares of Teledyne Technologies from $503.00 to $499.00 in a report on Friday, April 28th. Needham & Company LLC decreased their price target on shares of Teledyne Technologies from $498.00 to $470.00 in a report on Thursday, April 27th. Finally, Bank of America raised their price target on shares of Teledyne Technologies from $533.00 to $565.00 in a report on Thursday, May 25th. One investment analyst has rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $505.50.
Teledyne Technologies Stock Performance
TDY stock opened at $412.45 on Monday. The stock has a market cap of $19.41 billion, a P/E ratio of 26.10, a P/E/G ratio of 3.33 and a beta of 1.07. The firm has a 50 day simple moving average of $404.88 and a 200 day simple moving average of $417.55. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.30 and a current ratio of 1.94. Teledyne Technologies Incorporated has a 52 week low of $325.00 and a 52 week high of $448.71.
Teledyne Technologies (NYSE:TDY – Get Free Report) last issued its quarterly earnings data on Wednesday, April 26th. The scientific and technical instruments company reported $4.53 earnings per share for the quarter, beating the consensus estimate of $4.43 by $0.10. The firm had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.37 billion. Teledyne Technologies had a net margin of 13.67% and a return on equity of 10.98%. The company’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter last year, the firm earned $4.27 earnings per share. Research analysts anticipate that Teledyne Technologies Incorporated will post 19.12 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, Canada, the United Kingdom, France, 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.
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