Nvest Financial LLC Boosts Stake in Teledyne Technologies Incorporated (NYSE:TDY)

Nvest Financial LLC grew its position in shares of Teledyne Technologies Incorporated (NYSE:TDY) by 12.5% during the first quarter, according to its most recent filing with the SEC. The firm owned 1,110 shares of the scientific and technical instruments company’s stock after acquiring an additional 123 shares during the period. Nvest Financial LLC’s holdings in Teledyne Technologies were worth $477,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in TDY. Bruce G. Allen Investments LLC purchased a new position in shares of Teledyne Technologies during the 4th quarter worth approximately $28,000. Kapitalo Investimentos Ltda purchased a new stake in shares of Teledyne Technologies in the 4th quarter worth approximately $29,000. CVA Family Office LLC purchased a new stake in shares of Teledyne Technologies in the 4th quarter worth approximately $31,000. NBC Securities Inc. grew its stake in shares of Teledyne Technologies by 89.4% in the 1st quarter. NBC Securities Inc. now owns 89 shares of the scientific and technical instruments company’s stock worth $38,000 after buying an additional 42 shares during the last quarter. Finally, Anchor Investment Management LLC purchased a new stake in shares of Teledyne Technologies in the 4th quarter worth approximately $45,000. Hedge funds and other institutional investors own 91.58% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on TDY shares. TD Cowen cut their price target on Teledyne Technologies from $475.00 to $450.00 and set a “buy” rating on the stock in a research note on Thursday, April 25th. StockNews.com downgraded Teledyne Technologies from a “buy” rating to a “hold” rating in a research note on Thursday, April 25th. Bank of America downgraded Teledyne Technologies from a “buy” rating to a “neutral” rating and cut their target price for the company from $490.00 to $400.00 in a research note on Friday, April 26th. Finally, Needham & Company LLC cut their target price on Teledyne Technologies from $510.00 to $455.00 and set a “buy” rating on the stock in a research note on Thursday, April 25th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $470.83.

Teledyne Technologies Stock Up 0.4 %

TDY traded up $1.65 during trading on Tuesday, hitting $384.56. 179,530 shares of the company’s stock traded hands, compared to its average volume of 245,959. The company’s 50 day simple moving average is $391.17 and its two-hundred day simple moving average is $413.76. The company has a current ratio of 1.81, a quick ratio of 1.29 and a debt-to-equity ratio of 0.28. 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 $18.22 billion, a price-to-earnings ratio of 20.80, a PEG ratio of 2.73 and a beta of 1.00.

Teledyne Technologies (NYSE:TDY) last released its quarterly earnings results on Wednesday, April 24th. The scientific and technical instruments company reported $4.55 earnings per share for the quarter, missing the consensus estimate of $4.63 by ($0.08). The firm had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.39 billion. Teledyne Technologies had a net margin of 15.81% and a return on equity of 10.54%. Teledyne Technologies’s quarterly revenue was down 2.4% compared to the same quarter last year. During the same period in the previous year, the company earned $4.53 earnings per share. Analysts predict that Teledyne Technologies Incorporated will post 19.36 earnings per share for the current fiscal 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.