Wealth Enhancement Advisory Services LLC Lowers Stake in Teledyne Technologies Incorporated (NYSE:TDY)

Wealth Enhancement Advisory Services LLC cut its stake in Teledyne Technologies Incorporated (NYSE:TDY) by 10.7% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,344 shares of the scientific and technical instruments company’s stock after selling 161 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Teledyne Technologies were worth $588,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Tortoise Investment Management LLC boosted its holdings in shares of Teledyne Technologies by 48.0% in the 2nd quarter. Tortoise Investment Management LLC now owns 74 shares of the scientific and technical instruments company’s stock worth $29,000 after purchasing an additional 24 shares in the last quarter. Bleakley Financial Group LLC grew its position in Teledyne Technologies by 4.0% during the third quarter. Bleakley Financial Group LLC now owns 681 shares of the scientific and technical instruments company’s stock valued at $298,000 after acquiring an additional 26 shares during the last quarter. Summit Trail Advisors LLC lifted its holdings in shares of Teledyne Technologies by 3.9% in the 2nd quarter. Summit Trail Advisors LLC now owns 720 shares of the scientific and technical instruments company’s stock worth $279,000 after acquiring an additional 27 shares during the last quarter. Linscomb Wealth Inc. boosted its stake in shares of Teledyne Technologies by 4.4% in the 2nd quarter. Linscomb Wealth Inc. now owns 695 shares of the scientific and technical instruments company’s stock valued at $270,000 after purchasing an additional 29 shares in the last quarter. Finally, MJP Associates Inc. ADV grew its holdings in shares of Teledyne Technologies by 5.6% during the 2nd quarter. MJP Associates Inc. ADV now owns 604 shares of the scientific and technical instruments company’s stock valued at $234,000 after purchasing an additional 32 shares during the last quarter. Institutional investors own 91.58% of the company’s stock.

Teledyne Technologies Stock Performance

Teledyne Technologies stock opened at $477.38 on Friday. The company has a current ratio of 2.00, a quick ratio of 1.35 and a debt-to-equity ratio of 0.28. The firm has a market cap of $22.25 billion, a P/E ratio of 24.13, a P/E/G ratio of 3.21 and a beta of 1.01. Teledyne Technologies Incorporated has a 1-year low of $355.41 and a 1-year high of $483.52. The firm has a 50-day moving average of $443.66 and a 200-day moving average of $414.41.

Teledyne Technologies (NYSE:TDY) last released its quarterly earnings results on Wednesday, October 23rd. The scientific and technical instruments company reported $5.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.97 by $0.13. The company had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.42 billion. Teledyne Technologies had a net margin of 16.88% and a return on equity of 10.02%. Teledyne Technologies’s revenue was up 2.9% on a year-over-year basis. During the same period in the prior year, the firm earned $5.05 earnings per share. Sell-side analysts expect that Teledyne Technologies Incorporated will post 19.44 EPS for the current year.

Analysts Set New Price Targets

Several analysts have weighed in on TDY shares. Needham & Company LLC boosted their price target on shares of Teledyne Technologies from $482.00 to $528.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. StockNews.com raised Teledyne Technologies from a “hold” rating to a “buy” rating in a research note on Wednesday, October 2nd. TD Cowen raised their price target on Teledyne Technologies from $450.00 to $500.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Finally, 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. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Teledyne Technologies presently has an average rating of “Moderate Buy” and a consensus target price of $474.50.

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.