Victory Capital Management Inc. Sells 4,597 Shares of Teledyne Technologies Incorporated (NYSE:TDY)

Victory Capital Management Inc. cut its stake in shares of Teledyne Technologies Incorporated (NYSE:TDY) by 13.0% in the 2nd quarter, HoldingsChannel reports. The firm owned 30,873 shares of the scientific and technical instruments company’s stock after selling 4,597 shares during the period. Victory Capital Management Inc.’s holdings in Teledyne Technologies were worth $11,978,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of TDY. Kapitalo Investimentos Ltda purchased a new stake in shares of Teledyne Technologies during the 4th quarter valued at $29,000. American National Bank bought a new position in Teledyne Technologies in the second quarter valued at $28,000. Innealta Capital LLC bought a new position in Teledyne Technologies in the second quarter valued at $28,000. Tortoise Investment Management LLC raised its position in Teledyne Technologies by 48.0% during the second quarter. Tortoise Investment Management LLC now owns 74 shares of the scientific and technical instruments company’s stock valued at $29,000 after purchasing an additional 24 shares in the last quarter. Finally, Crewe Advisors LLC lifted its stake in Teledyne Technologies by 319.0% during the second quarter. Crewe Advisors LLC now owns 88 shares of the scientific and technical instruments company’s stock worth $34,000 after purchasing an additional 67 shares during the last quarter. 91.58% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

TDY has been the topic of several recent research reports. Vertical Research initiated coverage on Teledyne Technologies in a research report on Tuesday, July 23rd. They set a “buy” rating and a $470.00 price objective on the stock. StockNews.com downgraded shares of Teledyne Technologies from a “buy” rating to a “hold” rating in a research note on Sunday, August 11th. Finally, Needham & Company LLC upped their price objective on shares of Teledyne Technologies from $455.00 to $482.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $471.17.

Teledyne Technologies Price Performance

Shares of Teledyne Technologies stock opened at $427.75 on Friday. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.98 and a quick ratio of 1.28. Teledyne Technologies Incorporated has a one year low of $355.41 and a one year high of $448.19. The business’s 50 day simple moving average is $413.34 and its two-hundred day simple moving average is $406.18. The stock has a market capitalization of $20.01 billion, a P/E ratio of 23.13, a price-to-earnings-growth ratio of 3.00 and a beta of 1.02.

Teledyne Technologies (NYSE:TDY) last issued its earnings results on Wednesday, July 24th. The scientific and technical instruments company reported $4.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.49 by $0.09. Teledyne Technologies had a net margin of 15.86% and a return on equity of 10.27%. The firm had revenue of $1.37 billion for the quarter, compared to analysts’ expectations of $1.36 billion. During the same quarter last year, the business earned $4.67 earnings per share. The business’s revenue was down 3.8% on a year-over-year basis. Analysts forecast that Teledyne Technologies Incorporated will post 19.43 EPS for the current 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.