Golden State Wealth Management LLC Acquires 35 Shares of Teledyne Technologies Incorporated (NYSE:TDY)

Golden State Wealth Management LLC grew its position in Teledyne Technologies Incorporated (NYSE:TDY) by 205.9% in the first quarter, HoldingsChannel.com reports. The firm owned 52 shares of the scientific and technical instruments company’s stock after acquiring an additional 35 shares during the period. Golden State Wealth Management LLC’s holdings in Teledyne Technologies were worth $26,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. LPL Financial LLC boosted its position in shares of 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 purchasing an additional 2,224 shares during the period. Amundi boosted its position in shares of 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 purchasing an additional 13,244 shares during the period. Asset Management One Co. Ltd. boosted its position in shares of Teledyne Technologies by 4.7% in the first quarter. Asset Management One Co. Ltd. now owns 38,298 shares of the scientific and technical instruments company’s stock worth $19,061,000 after purchasing an additional 1,712 shares during the period. SG Americas Securities LLC bought a new position in shares of Teledyne Technologies in the first quarter worth approximately $6,725,000. Finally, QRG Capital Management Inc. bought a new position in shares of Teledyne Technologies in the first quarter worth approximately $275,000. 91.58% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on TDY shares. Stifel Nicolaus started coverage on shares of Teledyne Technologies in a research report on Tuesday, June 24th. They issued a “buy” rating and a $626.00 price target for the company. Needham & Company LLC dropped their price target on shares of Teledyne Technologies from $585.00 to $550.00 and set a “buy” rating for the company in a research report on Thursday, April 24th. Wall Street Zen upgraded shares of Teledyne Technologies from a “hold” rating to a “buy” rating in a research report on Friday, May 9th. Bank of America upped their target price 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. Finally, TD Securities restated a “buy” rating and set a $550.00 target price on shares of Teledyne Technologies in a research report on Thursday, April 24th. Eight analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $554.43.

Teledyne Technologies Price Performance

Shares of NYSE:TDY opened at $517.89 on Friday. 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 fifty day moving average price of $491.41 and a 200 day moving average price of $486.33. Teledyne Technologies Incorporated has a fifty-two week low of $381.03 and a fifty-two week high of $522.50. The firm has a market cap of $24.27 billion, a price-to-earnings ratio of 29.59, a P/E/G ratio of 2.39 and a beta of 1.04.

Teledyne Technologies (NYSE:TDY) last released its quarterly 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 for the quarter, compared to the consensus estimate of $1.44 billion. Teledyne Technologies had a net margin of 14.37% and a return on equity of 9.95%. Teledyne Technologies’s revenue was up 7.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $4.55 earnings per share. As a group, sell-side analysts expect that Teledyne Technologies Incorporated will post 21.55 earnings per share for the current fiscal 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.