Blue Trust Inc. Grows Stock Position in Teledyne Technologies Incorporated (NYSE:TDY)

Blue Trust Inc. lifted its stake in Teledyne Technologies Incorporated (NYSE:TDY) by 36.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,447 shares of the scientific and technical instruments company’s stock after purchasing an additional 384 shares during the period. Blue Trust Inc.’s holdings in Teledyne Technologies were worth $633,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Tortoise Investment Management LLC boosted its holdings in Teledyne Technologies by 48.0% in 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 during the period. Bleakley Financial Group LLC boosted its holdings in Teledyne Technologies by 4.0% in the third quarter. Bleakley Financial Group LLC now owns 681 shares of the scientific and technical instruments company’s stock valued at $298,000 after purchasing an additional 26 shares during the period. Summit Trail Advisors LLC raised its stake in Teledyne Technologies by 3.9% in the second quarter. Summit Trail Advisors LLC now owns 720 shares of the scientific and technical instruments company’s stock valued at $279,000 after buying an additional 27 shares in the last quarter. Linscomb Wealth Inc. raised its stake in Teledyne Technologies by 4.4% in the second quarter. Linscomb Wealth Inc. now owns 695 shares of the scientific and technical instruments company’s stock valued at $270,000 after buying an additional 29 shares in the last quarter. Finally, MJP Associates Inc. ADV raised its stake in Teledyne Technologies by 5.6% in the second quarter. MJP Associates Inc. ADV now owns 604 shares of the scientific and technical instruments company’s stock valued at $234,000 after buying an additional 32 shares in the last quarter. 91.58% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

TDY has been the topic of a number of analyst reports. Vertical Research initiated coverage on Teledyne Technologies in a research note on Tuesday, July 23rd. They issued a “buy” rating and a $470.00 price target on the stock. Needham & Company LLC raised their price target on Teledyne Technologies from $455.00 to $482.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Finally, StockNews.com upgraded Teledyne Technologies from a “hold” rating to a “buy” rating in a research note on Wednesday, October 2nd. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, Teledyne Technologies presently has a consensus rating of “Moderate Buy” and an average price target of $450.50.

Teledyne Technologies Price Performance

TDY stock opened at $447.14 on Tuesday. The stock’s 50 day moving average price is $431.86 and its 200 day moving average price is $409.13. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.28 and a current ratio of 1.98. The firm has a market cap of $20.92 billion, a P/E ratio of 24.31, a PEG ratio of 3.16 and a beta of 1.01. Teledyne Technologies Incorporated has a 1 year low of $355.41 and a 1 year high of $458.15.

Teledyne Technologies (NYSE:TDY) last issued its quarterly earnings results on Wednesday, July 24th. The scientific and technical instruments company reported $4.58 earnings per share for the quarter, beating the consensus estimate of $4.49 by $0.09. Teledyne Technologies had a return on equity of 10.27% and a net margin of 15.86%. The company had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.36 billion. During the same period in the previous year, the firm posted $4.67 EPS. Teledyne Technologies’s revenue was down 3.8% on a year-over-year basis. On average, sell-side analysts expect that Teledyne Technologies Incorporated will post 19.43 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 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.