Blue Trust Inc. Purchases 293 Shares of Teledyne Technologies Incorporated (NYSE:TDY)

Blue Trust Inc. lifted its position in Teledyne Technologies Incorporated (NYSE:TDY) by 38.1% in the second quarter, Holdings Channel.com reports. The institutional investor owned 1,063 shares of the scientific and technical instruments company’s stock after buying an additional 293 shares during the period. Blue Trust Inc.’s holdings in Teledyne Technologies were worth $456,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in TDY. Kapitalo Investimentos Ltda bought a new position in Teledyne Technologies in the fourth quarter valued at approximately $29,000. NBC Securities Inc. lifted its position in 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 valued at $38,000 after acquiring an additional 42 shares in the last quarter. Creekmur Asset Management LLC acquired a new position in Teledyne Technologies in the 4th quarter worth $45,000. Covestor Ltd increased its holdings in Teledyne Technologies by 131.9% during the 1st quarter. Covestor Ltd now owns 109 shares of the scientific and technical instruments company’s stock worth $47,000 after purchasing an additional 62 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV raised its stake in shares of Teledyne Technologies by 32.1% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 140 shares of the scientific and technical instruments company’s stock valued at $54,000 after purchasing an additional 34 shares during the period. Institutional investors own 91.58% of the company’s stock.

Analysts Set New Price Targets

TDY has been the subject of several recent research reports. TD Cowen reduced their price objective on Teledyne Technologies from $475.00 to $450.00 and set a “buy” rating for the company in a research report on Thursday, April 25th. Needham & Company LLC raised their price target on shares of Teledyne Technologies from $455.00 to $482.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Vertical Research began coverage on shares of Teledyne Technologies in a research report on Tuesday, July 23rd. They issued a “buy” rating and a $470.00 price objective on the stock. Bank of America cut shares of Teledyne Technologies from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $490.00 to $400.00 in a report on Friday, April 26th. Finally, StockNews.com cut shares of Teledyne Technologies from a “buy” rating to a “hold” rating in a report on Sunday, August 11th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $471.17.

Teledyne Technologies Stock Up 0.8 %

TDY traded up $3.22 during trading hours on Friday, hitting $416.58. 144,169 shares of the company’s stock were exchanged, compared to its average volume of 287,127. The stock has a market cap of $19.49 billion, a price-to-earnings ratio of 22.53, a PEG ratio of 2.87 and a beta of 1.00. The company has a quick ratio of 1.28, a current ratio of 1.98 and a debt-to-equity ratio of 0.28. The stock’s 50-day moving average is $398.51 and its two-hundred day moving average is $406.95. Teledyne Technologies Incorporated has a 1-year low of $355.41 and a 1-year high of $448.19.

Teledyne Technologies (NYSE:TDY) last announced its quarterly earnings results on Wednesday, July 24th. The scientific and technical instruments company reported $4.58 EPS for the quarter, beating analysts’ consensus estimates of $4.49 by $0.09. The firm had revenue of $1.37 billion during the quarter, compared to analysts’ expectations 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 for the quarter was down 3.8% compared to the same quarter last year. During the same quarter last year, the company posted $4.67 earnings per share. Sell-side analysts predict that Teledyne Technologies Incorporated will post 19.37 earnings per share for the current fiscal year.

Teledyne Technologies 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.