Envestnet Asset Management Inc. Acquires 14,695 Shares of Teledyne Technologies Incorporated (NYSE:TDY)

Envestnet Asset Management Inc. increased its holdings in Teledyne Technologies Incorporated (NYSE:TDY) by 8.8% in the second quarter, HoldingsChannel.com reports. The fund owned 181,501 shares of the scientific and technical instruments company’s stock after acquiring an additional 14,695 shares during the period. Envestnet Asset Management Inc.’s holdings in Teledyne Technologies were worth $70,419,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Private Advisor Group LLC bought a new stake in shares of Teledyne Technologies during the 4th quarter valued at about $214,000. Principal Securities Inc. purchased a new stake in Teledyne Technologies in the fourth quarter worth about $126,000. Janney Montgomery Scott LLC boosted its position in Teledyne Technologies by 6.1% during the 4th quarter. Janney Montgomery Scott LLC now owns 14,692 shares of the scientific and technical instruments company’s stock valued at $6,557,000 after acquiring an additional 848 shares in the last quarter. Brown Advisory Inc. grew its holdings in shares of Teledyne Technologies by 0.7% during the 4th quarter. Brown Advisory Inc. now owns 45,318 shares of the scientific and technical instruments company’s stock worth $20,225,000 after acquiring an additional 307 shares during the period. Finally, Norges Bank bought a new position in shares of Teledyne Technologies in the 4th quarter worth approximately $243,111,000. Institutional investors own 91.58% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on TDY. Vertical Research assumed coverage on Teledyne Technologies in a research report on Tuesday, July 23rd. They set a “buy” rating and a $470.00 price target on the stock. StockNews.com cut shares of Teledyne Technologies from a “buy” rating to a “hold” rating in a report on Sunday, August 11th. Finally, Needham & Company LLC increased their price target on shares of Teledyne Technologies from $455.00 to $482.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $471.17.

Teledyne Technologies Stock Down 0.1 %

Shares of NYSE:TDY opened at $428.89 on Wednesday. Teledyne Technologies Incorporated has a 12-month low of $355.41 and a 12-month high of $448.19. The stock has a market capitalization of $20.32 billion, a price-to-earnings ratio of 23.20, a PEG ratio of 3.00 and a beta of 1.02. The stock has a fifty day simple moving average of $415.20 and a two-hundred day simple moving average of $406.08. The company has a current ratio of 1.98, a quick ratio of 1.28 and a debt-to-equity ratio of 0.28.

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

Teledyne Technologies Profile

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.