Procyon Advisors LLC Raises Stake in Teledyne Technologies Incorporated (NYSE:TDY)

Procyon Advisors LLC raised its position in Teledyne Technologies Incorporated (NYSE:TDY) by 34.2% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 974 shares of the scientific and technical instruments company’s stock after acquiring an additional 248 shares during the quarter. Procyon Advisors LLC’s holdings in Teledyne Technologies were worth $426,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the company. Exchange Traded Concepts LLC lifted its stake in Teledyne Technologies by 432.0% in the third quarter. Exchange Traded Concepts LLC now owns 133 shares of the scientific and technical instruments company’s stock worth $58,000 after acquiring an additional 108 shares during the last quarter. Covea Finance lifted its position in shares of Teledyne Technologies by 6.2% during the 3rd quarter. Covea Finance now owns 17,100 shares of the scientific and technical instruments company’s stock worth $7,484,000 after buying an additional 1,000 shares during the last quarter. Nvest Financial LLC lifted its position in shares of Teledyne Technologies by 4.4% during the 3rd quarter. Nvest Financial LLC now owns 1,296 shares of the scientific and technical instruments company’s stock worth $567,000 after buying an additional 55 shares during the last quarter. LVW Advisors LLC lifted its position in shares of Teledyne Technologies by 12.0% during the 3rd quarter. LVW Advisors LLC now owns 1,381 shares of the scientific and technical instruments company’s stock worth $604,000 after buying an additional 148 shares during the last quarter. Finally, Mather Group LLC. increased its holdings in shares of Teledyne Technologies by 16.1% in the 3rd quarter. Mather Group LLC. now owns 289 shares of the scientific and technical instruments company’s stock valued at $126,000 after acquiring an additional 40 shares during the period. Hedge funds and other institutional investors own 91.58% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. StockNews.com raised shares of Teledyne Technologies from a “hold” rating to a “buy” rating in a report on Wednesday, October 2nd. Vertical Research began coverage on shares of Teledyne Technologies in a report on Tuesday, July 23rd. They issued a “buy” rating and a $470.00 target price on the stock. Finally, Needham & Company LLC boosted 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. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $450.50.

Teledyne Technologies Price Performance

NYSE:TDY opened at $450.48 on Wednesday. The firm has a market cap of $21.34 billion, a price-to-earnings ratio of 24.36, a price-to-earnings-growth ratio of 3.13 and a beta of 1.01. The company has a current ratio of 1.98, a quick ratio of 1.28 and a debt-to-equity ratio of 0.28. The company’s 50-day moving average is $428.66 and its two-hundred day moving average is $408.38. Teledyne Technologies Incorporated has a 12-month low of $355.41 and a 12-month high of $458.15.

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 the consensus estimate of $4.49 by $0.09. The business had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.36 billion. Teledyne Technologies had a net margin of 15.86% and a return on equity of 10.27%. The company’s revenue was down 3.8% on a year-over-year basis. During the same period in the prior year, the firm posted $4.67 EPS. Research analysts expect 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.