Allspring Global Investments Holdings LLC Sells 56,341 Shares of Teledyne Technologies Incorporated (NYSE:TDY)

Allspring Global Investments Holdings LLC reduced its position in shares of Teledyne Technologies Incorporated (NYSE:TDY) by 16.3% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 288,555 shares of the scientific and technical instruments company’s stock after selling 56,341 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.62% of Teledyne Technologies worth $126,289,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Wolff Wiese Magana LLC bought a new stake in Teledyne Technologies during the 3rd quarter worth about $27,000. American National Bank acquired a new position in shares of Teledyne Technologies during the 2nd quarter worth about $28,000. Innealta Capital LLC acquired a new position in shares of Teledyne Technologies during the 2nd quarter worth about $28,000. Tortoise Investment Management LLC grew its position in shares of Teledyne Technologies by 48.0% during the 2nd quarter. Tortoise Investment Management LLC now owns 74 shares of the scientific and technical instruments company’s stock worth $29,000 after buying an additional 24 shares during the period. Finally, Crewe Advisors LLC grew its position in shares of Teledyne Technologies by 319.0% during the 2nd quarter. Crewe Advisors LLC now owns 88 shares of the scientific and technical instruments company’s stock worth $34,000 after buying an additional 67 shares during the period. 91.58% of the stock is owned by institutional investors.

Teledyne Technologies Price Performance

Shares of TDY opened at $450.06 on Monday. 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 stock has a 50 day simple moving average of $431.07 and a 200 day simple moving average of $408.92. Teledyne Technologies Incorporated has a 52-week low of $355.41 and a 52-week high of $458.15. The firm has a market capitalization of $21.05 billion, a PE ratio of 24.47, a P/E/G ratio of 3.16 and a beta of 1.01.

Teledyne Technologies (NYSE:TDY) last released its quarterly earnings results 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 return on equity of 10.27% and a net margin of 15.86%. The firm had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.36 billion. During the same quarter in the prior year, the firm posted $4.67 EPS. The business’s revenue was down 3.8% on a year-over-year basis. Sell-side analysts predict that Teledyne Technologies Incorporated will post 19.43 EPS for the current fiscal year.

Analysts Set New Price Targets

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

Teledyne Technologies Company 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.