Teledyne Technologies Incorporated (NYSE:TDY) Shares Sold by Farther Finance Advisors LLC

Farther Finance Advisors LLC lessened its stake in shares of Teledyne Technologies Incorporated (NYSE:TDY) by 15.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 463 shares of the scientific and technical instruments company’s stock after selling 85 shares during the quarter. Farther Finance Advisors LLC’s holdings in Teledyne Technologies were worth $231,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in TDY. LPL Financial LLC grew its position in Teledyne Technologies by 8.5% in the fourth quarter. LPL Financial LLC now owns 28,366 shares of the scientific and technical instruments company’s stock worth $13,166,000 after buying an additional 2,224 shares during the last quarter. Amundi grew its position in Teledyne Technologies by 11.9% in the fourth quarter. Amundi now owns 124,874 shares of the scientific and technical instruments company’s stock worth $57,687,000 after buying an additional 13,244 shares during the last quarter. ING Groep NV grew its position in Teledyne Technologies by 144.9% in the fourth quarter. ING Groep NV now owns 5,952 shares of the scientific and technical instruments company’s stock worth $2,763,000 after buying an additional 3,522 shares during the last quarter. Grandfield & Dodd LLC grew its position in Teledyne Technologies by 11.7% in the fourth quarter. Grandfield & Dodd LLC now owns 39,316 shares of the scientific and technical instruments company’s stock worth $18,248,000 after buying an additional 4,125 shares during the last quarter. Finally, Principal Financial Group Inc. grew its position in Teledyne Technologies by 15.2% in the fourth quarter. Principal Financial Group Inc. now owns 64,350 shares of the scientific and technical instruments company’s stock worth $29,867,000 after buying an additional 8,501 shares during the last quarter. Institutional investors and hedge funds own 91.58% of the company’s stock.

Analysts Set New Price Targets

TDY has been the topic of several recent research reports. Bank of America lifted their price target on shares of Teledyne Technologies from $550.00 to $600.00 and gave the stock a “buy” rating in a research report on Monday, March 17th. Wall Street Zen raised shares of Teledyne Technologies from a “hold” rating to a “buy” rating in a research note on Friday, May 9th. TD Securities reaffirmed a “buy” rating and issued a $550.00 price objective on shares of Teledyne Technologies in a research note on Thursday, April 24th. Finally, Needham & Company LLC decreased their price objective on shares of Teledyne Technologies from $585.00 to $550.00 and set a “buy” rating for the company in a research note on Thursday, April 24th. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $542.50.

Teledyne Technologies Trading Down 0.4%

Teledyne Technologies stock opened at $488.66 on Thursday. The company has a 50 day moving average price of $482.29 and a 200 day moving average price of $484.32. Teledyne Technologies Incorporated has a 52 week low of $380.63 and a 52 week high of $522.50. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.44 and a current ratio of 2.19. The firm has a market capitalization of $22.90 billion, a price-to-earnings ratio of 27.92, a P/E/G ratio of 2.32 and a beta of 1.04.

Teledyne Technologies (NYSE:TDY) last issued its earnings results on Wednesday, April 23rd. The scientific and technical instruments company reported $4.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.92 by $0.03. The company had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.44 billion. Teledyne Technologies had a net margin of 14.37% and a return on equity of 9.95%. The company’s revenue for the quarter was up 7.4% on a year-over-year basis. During the same quarter last year, the business posted $4.55 EPS. Research analysts forecast that Teledyne Technologies Incorporated will post 21.55 EPS for the current year.

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.